Zacks Investment Research upgraded shares of Umpqua (NASDAQ:UMPQ) from a sell rating to a hold rating in a research report report published on Saturday morning.
According to Zacks, “UMPQUA HOLDINGS is a financial holding company. Through its subsidiaries, the company engages primarily in the business of commercial and retail banking and the delivery of retail brokerage services. “
UMPQ has been the subject of several other reports. Keefe, Bruyette & Woods upgraded Umpqua from a market perform rating to an outperform rating in a research report on Wednesday, November 8th. ValuEngine upgraded Umpqua from a hold rating to a buy rating in a research report on Monday, September 18th. Barclays lifted their target price on Umpqua from $20.00 to $22.00 and gave the stock an equal weight rating in a research report on Tuesday, January 2nd. BidaskClub downgraded Umpqua from a strong-buy rating to a buy rating in a report on Friday. Finally, SunTrust Banks restated a buy rating and issued a $24.00 price objective on shares of Umpqua in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Umpqua presently has an average rating of Hold and a consensus target price of $20.94.
Umpqua (NASDAQ:UMPQ) traded up $0.29 during trading hours on Friday, hitting $21.26. The stock had a trading volume of 1,580,000 shares, compared to its average volume of 1,600,000. Umpqua has a fifty-two week low of $16.65 and a fifty-two week high of $22.86. The company has a market capitalization of $4,680.00, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 2.04 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.96 and a current ratio of 0.98.
Umpqua (NASDAQ:UMPQ) last released its earnings results on Wednesday, October 18th. The bank reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). Umpqua had a return on equity of 5.79% and a net margin of 19.04%. The business had revenue of $295.87 million for the quarter, compared to the consensus estimate of $297.51 million. During the same quarter last year, the business posted $0.28 earnings per share. analysts forecast that Umpqua will post 1.03 EPS for the current fiscal year.
The company also recently disclosed a dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.18 dividend. The ex-dividend date is Thursday, December 28th. Umpqua’s payout ratio is currently 67.92%.
In related news, insider Raymond P. Davis sold 36,829 shares of Umpqua stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $20.60, for a total value of $758,677.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.52% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC raised its holdings in Umpqua by 591.2% in the second quarter. Citadel Advisors LLC now owns 2,650,601 shares of the bank’s stock worth $48,665,000 after purchasing an additional 2,267,129 shares in the last quarter. Janus Henderson Group PLC bought a new position in Umpqua in the second quarter worth about $38,607,000. Balyasny Asset Management LLC raised its holdings in Umpqua by 1,072.4% in the second quarter. Balyasny Asset Management LLC now owns 1,904,913 shares of the bank’s stock worth $34,974,000 after purchasing an additional 1,742,435 shares in the last quarter. Atlanta Capital Management Co. L L C raised its holdings in Umpqua by 12.8% in the second quarter. Atlanta Capital Management Co. L L C now owns 10,745,502 shares of the bank’s stock worth $197,288,000 after purchasing an additional 1,219,722 shares in the last quarter. Finally, Capital World Investors raised its holdings in Umpqua by 6.6% in the second quarter. Capital World Investors now owns 15,273,300 shares of the bank’s stock worth $280,418,000 after purchasing an additional 944,594 shares in the last quarter. Hedge funds and other institutional investors own 88.15% of the company’s stock.
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Umpqua Company Profile
Umpqua Holdings Corporation is a bank holding company. The Company’s principal operating subsidiaries include Umpqua Bank (the Bank) and Umpqua Investments, Inc (Umpqua Investments). It operates through two segments: Community Banking and Home Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and retail customers in its primary market areas.
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