Zacks: Analysts Anticipate Umpqua Holdings Corporation (UMPQ) Will Announce Quarterly Sales of $297.22 Million
Equities analysts expect Umpqua Holdings Corporation (NASDAQ:UMPQ) to report sales of $297.22 million for the current quarter, Zacks reports. Six analysts have made estimates for Umpqua Holdings Corporation’s earnings, with estimates ranging from $289.24 million to $300.00 million. Umpqua Holdings Corporation posted sales of $290.60 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.3%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, October 18th.
On average, analysts expect that Umpqua Holdings Corporation will report full-year sales of $297.22 million for the current fiscal year, with estimates ranging from $1.12 billion to $1.16 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.22 billion per share, with estimates ranging from $1.20 billion to $1.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Umpqua Holdings Corporation.
Umpqua Holdings Corporation (NASDAQ:UMPQ) last issued its quarterly earnings data on Wednesday, July 19th. The bank reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). The business had revenue of $283.20 million for the quarter, compared to analyst estimates of $285.71 million. Umpqua Holdings Corporation had a return on equity of 5.92% and a net margin of 19.22%. During the same period in the previous year, the business posted $0.25 EPS.
Several equities analysts recently issued reports on the stock. BidaskClub lowered shares of Umpqua Holdings Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Zacks Investment Research lowered shares of Umpqua Holdings Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. ValuEngine upgraded shares of Umpqua Holdings Corporation from a “hold” rating to a “buy” rating in a report on Monday. Stephens restated a “hold” rating and issued a $20.00 target price on shares of Umpqua Holdings Corporation in a report on Thursday, July 20th. Finally, Keefe, Bruyette & Woods set a $20.00 target price on shares of Umpqua Holdings Corporation and gave the company a “hold” rating in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $20.17.
Shares of Umpqua Holdings Corporation (NASDAQ:UMPQ) traded down 0.11% during mid-day trading on Tuesday, reaching $18.62. The company had a trading volume of 263,030 shares. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 17.57 and a beta of 1.12. The stock has a 50 day moving average of $17.74 and a 200-day moving average of $17.88. Umpqua Holdings Corporation has a one year low of $14.78 and a one year high of $19.50.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.72 annualized dividend and a dividend yield of 3.86%. This is a positive change from Umpqua Holdings Corporation’s previous quarterly dividend of $0.16. Umpqua Holdings Corporation’s dividend payout ratio is currently 60.38%.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd raised its holdings in shares of Umpqua Holdings Corporation by 56.8% during the second quarter. WINTON GROUP Ltd now owns 44,966 shares of the bank’s stock valued at $826,000 after purchasing an additional 16,291 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Umpqua Holdings Corporation by 0.7% during the second quarter. Public Employees Retirement System of Ohio now owns 125,001 shares of the bank’s stock valued at $2,295,000 after purchasing an additional 820 shares during the period. Koch Industries Inc. acquired a new position in shares of Umpqua Holdings Corporation during the second quarter valued at about $460,000. Ameritas Investment Partners Inc. raised its holdings in shares of Umpqua Holdings Corporation by 2.2% during the second quarter. Ameritas Investment Partners Inc. now owns 85,408 shares of the bank’s stock valued at $1,568,000 after purchasing an additional 1,798 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC acquired a new position in shares of Umpqua Holdings Corporation during the second quarter valued at about $269,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.
About Umpqua Holdings Corporation
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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