Zacks Investment Research upgraded shares of Umpqua (NASDAQ:UMPQ) from a hold rating to a strong-buy rating in a research report report published on Friday. The brokerage currently has $25.00 price objective on the bank’s stock.
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 research analysts have also issued reports on the stock. Wells Fargo & Co increased their target price on shares of Umpqua from $18.00 to $20.00 and gave the stock a market perform rating in a research note on Friday, October 20th. Keefe, Bruyette & Woods reissued a hold rating and set a $20.00 target price on shares of Umpqua in a research note on Monday, October 16th. SunTrust Banks reissued a buy rating and set a $23.00 target price on shares of Umpqua in a research note on Monday, November 6th. Piper Jaffray Companies reissued a sell rating and set a $16.50 target price on shares of Umpqua in a research note on Wednesday, October 4th. Finally, ValuEngine raised shares of Umpqua from a hold rating to a buy rating in a research note on Monday, September 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $21.39.
Shares of Umpqua (NASDAQ:UMPQ) traded up $0.27 during midday trading on Friday, reaching $22.40. 1,130,000 shares of the company traded hands, compared to its average volume of 1,680,000. The company has a market capitalization of $4,930.00, a price-to-earnings ratio of 21.13, a PEG ratio of 1.92 and a beta of 1.14. Umpqua has a fifty-two week low of $16.65 and a fifty-two week high of $22.86. 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 issued its earnings results on Wednesday, October 18th. The bank reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). The company had revenue of $295.87 million for the quarter, compared to the consensus estimate of $297.51 million. Umpqua had a return on equity of 5.79% and a net margin of 19.04%. During the same period in the prior year, the company earned $0.28 earnings per share. equities analysts anticipate that Umpqua will post 1.04 EPS for the current year.
The firm also recently disclosed a dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a $0.18 dividend. The ex-dividend date is Thursday, December 28th. Umpqua’s dividend payout ratio (DPR) is 67.92%.
In other Umpqua news, insider Raymond P. Davis sold 36,829 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $20.60, for a total value of $758,677.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.52% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in UMPQ. Citadel Advisors LLC lifted its stake in shares of Umpqua by 591.2% in the second quarter. Citadel Advisors LLC now owns 2,650,601 shares of the bank’s stock valued at $48,665,000 after buying an additional 2,267,129 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Umpqua in the second quarter valued at $38,607,000. Balyasny Asset Management LLC lifted its stake in shares of Umpqua by 1,072.4% in the second quarter. Balyasny Asset Management LLC now owns 1,904,913 shares of the bank’s stock valued at $34,974,000 after buying an additional 1,742,435 shares in the last quarter. Atlanta Capital Management Co. L L C lifted its stake in shares of 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 valued at $197,288,000 after buying an additional 1,219,722 shares in the last quarter. Finally, Capital World Investors lifted its stake in shares of Umpqua by 6.6% in the second quarter. Capital World Investors now owns 15,273,300 shares of the bank’s stock valued at $280,418,000 after buying an additional 944,594 shares in the last quarter. 88.15% of the stock is currently owned by hedge funds and other institutional investors.
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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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