Umpqua (NASDAQ:UMPQ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm presently has a $22.00 price objective on the bank’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 23.39% from the company’s previous close.
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 analysts have also commented on the stock. BidaskClub lowered shares of Umpqua from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine lowered shares of Umpqua from a “hold” rating to a “sell” rating in a research note on Friday, November 30th. Piper Jaffray Companies raised shares of Umpqua from an “underweight” rating to a “neutral” rating and set a $20.00 target price for the company in a research note on Wednesday, November 21st. Raymond James cut their target price on shares of Umpqua from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Finally, Wells Fargo & Co set a $22.00 target price on shares of Umpqua and gave the company a “hold” rating in a research note on Tuesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Umpqua currently has a consensus rating of “Hold” and an average price target of $23.92.
Shares of NASDAQ:UMPQ opened at $17.83 on Thursday. Umpqua has a twelve month low of $17.37 and a twelve month high of $24.89. The company has a market capitalization of $3.97 billion, a PE ratio of 16.66, a P/E/G ratio of 1.36 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 (NASDAQ:UMPQ) last released its earnings results 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 business had revenue of $313.76 million during the quarter, compared to analyst estimates of $309.37 million. During the same period in the prior year, the business earned $0.28 earnings per share. Equities analysts forecast that Umpqua will post 1.47 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Aperio Group LLC raised its holdings in shares of Umpqua by 1.3% during the second quarter. Aperio Group LLC now owns 187,770 shares of the bank’s stock valued at $4,242,000 after acquiring an additional 2,436 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Umpqua by 3.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 85,169 shares of the bank’s stock valued at $1,924,000 after acquiring an additional 2,477 shares during the period. Raymond James Trust N.A. raised its holdings in shares of Umpqua by 25.8% during the third quarter. Raymond James Trust N.A. now owns 12,561 shares of the bank’s stock valued at $261,000 after acquiring an additional 2,578 shares during the period. Foster & Motley Inc. raised its holdings in shares of Umpqua by 15.6% during the third quarter. Foster & Motley Inc. now owns 20,912 shares of the bank’s stock valued at $435,000 after acquiring an additional 2,826 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Umpqua by 5.9% during the third quarter. Thrivent Financial for Lutherans now owns 53,134 shares of the bank’s stock valued at $1,105,000 after acquiring an additional 2,969 shares during the period. Institutional investors and hedge funds own 88.44% of the company’s stock.
Umpqua Company Profile
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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