Piper Jaffray Companies Research Analysts Raise Earnings Estimates for Umpqua Holdings Corp (UMPQ)
Umpqua Holdings Corp (NASDAQ:UMPQ) – Piper Jaffray Companies lifted their Q2 2019 EPS estimates for Umpqua in a note issued to investors on Monday, April 22nd. Piper Jaffray Companies analyst M. Clark now anticipates that the bank will post earnings per share of $0.41 for the quarter, up from their prior forecast of $0.39. Piper Jaffray Companies also issued estimates for Umpqua’s Q3 2019 earnings at $0.42 EPS.
UMPQ has been the topic of a number of other research reports. Stephens restated a “hold” rating and set a $21.00 price target on shares of Umpqua in a research report on Monday. Zacks Investment Research downgraded Umpqua from a “buy” rating to a “hold” rating in a research report on Tuesday, January 22nd. ValuEngine upgraded Umpqua from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. BidaskClub downgraded Umpqua from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. Finally, DA Davidson restated a “buy” rating on shares of Umpqua in a research report on Thursday, April 18th. Three equities research 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 an average rating of “Hold” and an average price target of $22.70.
Umpqua (NASDAQ:UMPQ) last released its quarterly earnings results on Wednesday, April 17th. The bank reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). Umpqua had a net margin of 23.20% and a return on equity of 7.91%. The firm had revenue of $283.43 million for the quarter, compared to analysts’ expectations of $301.29 million. During the same quarter in the previous year, the business earned $0.35 EPS.
Several large investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its stake in shares of Umpqua by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 59,000 shares of the bank’s stock valued at $974,000 after buying an additional 600 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Umpqua by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 285,555 shares of the bank’s stock worth $4,540,000 after purchasing an additional 983 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Umpqua by 6.3% in the fourth quarter. Meeder Asset Management Inc. now owns 16,944 shares of the bank’s stock worth $269,000 after purchasing an additional 1,000 shares during the last quarter. Financial Advocates Investment Management grew its stake in shares of Umpqua by 45.1% in the fourth quarter. Financial Advocates Investment Management now owns 3,222 shares of the bank’s stock worth $43,000 after purchasing an additional 1,001 shares during the last quarter. Finally, Abbrea Capital LLC grew its stake in shares of Umpqua by 3.6% in the fourth quarter. Abbrea Capital LLC now owns 29,336 shares of the bank’s stock worth $473,000 after purchasing an additional 1,016 shares during the last quarter. 88.97% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Ron L. Farnsworth sold 9,500 shares of the firm’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $17.62, for a total transaction of $167,390.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.43% of the stock is currently owned by company insiders.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.90%. Umpqua’s dividend payout ratio (DPR) is currently 57.53%.
Umpqua Holdings Corporation operates as the holding company of Umpqua Bank that provides commercial and retail banking, and retail brokerage services. It operates through four segments: Wholesale 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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