Umpqua Holdings Corporation (UMPQ) Lifted to “Outperform” at Keefe, Bruyette & Woods
Umpqua Holdings Corporation (NASDAQ:UMPQ) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday.
UMPQ has been the subject of several other reports. Piper Jaffray Companies reiterated a “sell” rating and issued a $16.50 target price on shares of Umpqua Holdings Corporation in a report on Wednesday, October 4th. Wells Fargo & Company upped their target price on Umpqua Holdings Corporation from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Barclays PLC upped their target price on Umpqua Holdings Corporation from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, October 20th. BidaskClub cut Umpqua Holdings Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Finally, Zacks Investment Research cut Umpqua Holdings Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $20.06.
Shares of Umpqua Holdings Corporation (NASDAQ:UMPQ) opened at $20.10 on Wednesday. Umpqua Holdings Corporation has a 1-year low of $15.09 and a 1-year high of $20.98. The firm has a market capitalization of $4,545.58, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.98 and a quick ratio of 0.96.
Umpqua Holdings Corporation (NASDAQ:UMPQ) last issued its earnings results on Wednesday, October 18th. The bank reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). Umpqua Holdings Corporation had a return on equity of 5.79% and a net margin of 19.04%. The firm had revenue of $295.87 million during the quarter, compared to analysts’ expectations of $297.51 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. sell-side analysts predict that Umpqua Holdings Corporation will post 1.04 earnings per share for the current fiscal year.
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In related news, insider Raymond P. Davis sold 36,829 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $20.60, for a total transaction of $758,677.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.52% of the company’s stock.
Large investors have recently made changes to their positions in the stock. HighTower Advisors LLC acquired a new position in Umpqua Holdings Corporation during the 2nd quarter valued at about $203,000. Oregon Public Employees Retirement Fund increased its position in Umpqua Holdings Corporation by 4.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 80,948 shares of the bank’s stock valued at $1,486,000 after buying an additional 3,397 shares in the last quarter. Brookstone Capital Management acquired a new position in shares of Umpqua Holdings Corporation in the second quarter valued at about $285,000. Paragon Capital Management Ltd acquired a new position in shares of Umpqua Holdings Corporation in the second quarter valued at about $255,000. Finally, Legal & General Group Plc increased its holdings in shares of Umpqua Holdings Corporation by 14.3% in the second quarter. Legal & General Group Plc now owns 251,143 shares of the bank’s stock valued at $4,614,000 after purchasing an additional 31,336 shares during the period. 87.82% of the stock is currently owned by institutional investors.
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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