Umpqua Holdings Corp. Rating Increased to Buy at Sterne Agee (UMPQ)
Umpqua Holdings Corp. (NASDAQ:UMPQ) was upgraded by investment analysts at Sterne Agee from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $19.00 price target on the stock, up from their previous price target of $17.50. Sterne Agee’s target price would suggest a potential upside of 15.57% from the stock’s previous close.
The analysts wrote, “We are upgrading the shares to BUY from Neutral and increasing our PT to $19 (+$1.50), based on a peer valuation level of 14x our FY14E. We increased our estimates recently and are less inclined to take a wait and see approach to the STSA deal that we increasingly believe will be better than the market appears to be expecting.”
Several other analysts have also recently commented on the stock. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Umpqua Holdings Corp. from $17.00 to $18.00 in a research note to investors on Thursday, September 26th. They now have a “market perform” rating on the stock. Separately, analysts at Zacks downgraded shares of Umpqua Holdings Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, September 26th. They now have a $18.60 price target on the stock. Finally, analysts at UBS AG reiterated a “buy” rating on shares of Umpqua Holdings Corp. in a research note to investors on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Umpqua Holdings Corp. currently has a consensus rating of “Hold” and a consensus price target of $17.34.
Umpqua Holdings Corp. (NASDAQ:UMPQ) traded up 0.06% during mid-day trading on Monday, hitting $16.45. The stock had a trading volume of 876,317 shares. Umpqua Holdings Corp. has a 1-year low of $11.17 and a 1-year high of $17.48. The stock has a 50-day moving average of $16.49 and a 200-day moving average of $14.80. The company has a market cap of $1.841 billion and a price-to-earnings ratio of 18.07.
Umpqua Holdings Corp. (NASDAQ:UMPQ) last released its earnings data on Wednesday, July 17th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.02. During the same quarter in the prior year, the company posted $0.21 earnings per share.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Thursday, September 26th.
Umpqua Holdings Corporation (NASDAQ:UMPQ) is a financial holding company.
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