Zacks Investment Research cut shares of Umpqua (NASDAQ:UMPQ) from a buy rating to a hold rating in a research report released on Tuesday 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. “
Several other equities analysts have also recently issued reports on UMPQ. BidaskClub upgraded shares of Umpqua from a sell rating to a hold rating in a research report on Thursday, August 23rd. ValuEngine upgraded shares of Umpqua from a hold rating to a buy rating in a research report on Friday, September 7th. Wells Fargo & Co set a $22.00 price target on shares of Umpqua and gave the company a hold rating in a research report on Tuesday, October 2nd. Raymond James reduced their price target on shares of Umpqua from $24.00 to $23.00 and set an outperform rating on the stock in a research report on Friday, October 19th. Finally, Piper Jaffray Companies upgraded shares of Umpqua from an underweight rating to a neutral rating and set a $20.00 price target on the stock in a research report on Wednesday, November 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $23.92.
Shares of NASDAQ:UMPQ opened at $17.83 on Tuesday. The stock has a market cap of $3.93 billion, a PE ratio of 12.65, a PEG ratio of 1.35 and a beta of 0.95. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.28. Umpqua has a 12 month low of $17.37 and a 12 month high of $24.89.
Umpqua (NASDAQ:UMPQ) last issued its quarterly earnings data on Wednesday, October 17th. The bank reported $0.41 EPS for the quarter, beating the consensus estimate of $0.36 by $0.05. Umpqua had a net margin of 24.23% and a return on equity of 7.74%. The firm had revenue of $313.76 million during the quarter, compared to the consensus estimate of $309.37 million. During the same period in the prior year, the firm posted $0.28 earnings per share. On average, equities analysts anticipate that Umpqua will post 1.47 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. grew its holdings in Umpqua by 22.7% in the third quarter. Alliancebernstein L.P. now owns 6,439,882 shares of the bank’s stock worth $133,950,000 after purchasing an additional 1,192,552 shares during the period. Handelsbanken Fonder AB purchased a new stake in Umpqua in the third quarter worth about $21,424,000. Mainstay Capital Management LLC ADV grew its holdings in Umpqua by 964.0% in the second quarter. Mainstay Capital Management LLC ADV now owns 1,098,174 shares of the bank’s stock worth $47,583,000 after purchasing an additional 994,958 shares during the period. Allianz Asset Management GmbH grew its holdings in Umpqua by 103.5% in the third quarter. Allianz Asset Management GmbH now owns 1,891,755 shares of the bank’s stock worth $39,349,000 after purchasing an additional 962,010 shares during the period. Finally, Segall Bryant & Hamill LLC grew its holdings in Umpqua by 61.9% in the second quarter. Segall Bryant & Hamill LLC now owns 2,310,306 shares of the bank’s stock worth $52,190,000 after purchasing an additional 883,556 shares during the period. Institutional investors own 88.44% of the company’s stock.
Umpqua Holdings Corporation, through its subsidiaries, provides commercial and retail banking, and retail brokerage services. It operates through four segments: Commercial Bank, Wealth Management, Retail Bank, and Home Lending. The company offers deposit products, including non-interest bearing checking, interest bearing checking and savings, and money market accounts, as well as certificates of deposit.
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