Umpqua (UMPQ) Lifted to “Strong-Buy” at BidaskClub
BidaskClub upgraded shares of Umpqua (NASDAQ:UMPQ) from a buy rating to a strong-buy rating in a research note released on Saturday morning.
A number of other research analysts also recently commented on UMPQ. Zacks Investment Research upgraded Umpqua from a hold rating to a strong-buy rating and set a $25.00 price objective for the company in a research note on Friday. ValuEngine upgraded Umpqua from a hold rating to a buy rating in a research note on Sunday, December 31st. Barclays upped their price objective on Umpqua from $20.00 to $22.00 and gave the stock an equal weight rating in a research note on Tuesday, January 2nd. Wedbush upgraded Umpqua from a neutral rating to an outperform rating and set a $25.00 price objective for the company in a research note on Thursday, January 4th. Finally, SunTrust Banks restated a buy rating and set a $24.00 price objective on shares of Umpqua in a research note on Wednesday, November 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $21.39.
Shares of Umpqua (NASDAQ:UMPQ) traded up $0.27 on Friday, reaching $22.40. The company had a trading volume of 1,134,600 shares, compared to its average volume of 1,615,633. The company has a market cap of $4,930.00, a P/E ratio of 21.13, a P/E/G ratio of 1.95 and a beta of 1.14. 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 has a 52-week low of $16.65 and a 52-week high of $22.86.
The firm also recently declared a dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 28th. Umpqua’s payout ratio is 67.92%.
In other news, insider Raymond P. Davis sold 36,829 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $20.60, for a total value of $758,677.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.52% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Zions Bancorporation bought a new position in shares of Umpqua in the third quarter worth $121,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Umpqua by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,838 shares of the bank’s stock worth $144,000 after purchasing an additional 632 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Umpqua in the second quarter worth $203,000. Raymond James Trust N.A. bought a new position in shares of Umpqua in the second quarter worth $206,000. Finally, Merriman Wealth Management LLC bought a new position in shares of Umpqua in the third quarter worth $220,000. 88.15% of the stock is owned by institutional investors.
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Umpqua Company Profile
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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