Umpqua Holdings Corporation to Post Q1 2018 Earnings of $0.32 Per Share, Wedbush Forecasts (UMPQ)

Umpqua Holdings Corporation (NASDAQ:UMPQ) – Wedbush raised their Q1 2018 earnings estimates for shares of Umpqua in a research note issued on Thursday. Wedbush analyst D. Chiaverini now expects that the bank will post earnings of $0.32 per share for the quarter, up from their previous forecast of $0.26. Wedbush currently has a “Outperform” rating and a $25.00 target price on the stock. Wedbush also issued estimates for Umpqua’s Q2 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.40 EPS and FY2019 earnings at $1.65 EPS.

Umpqua (NASDAQ:UMPQ) last posted its quarterly earnings data on Wednesday, October 18th. The bank reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). Umpqua 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 the consensus estimate of $297.51 million. During the same period in the prior year, the firm posted $0.28 EPS.

A number of other analysts also recently commented on the company. Wells Fargo & Co boosted their price objective on Umpqua from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Friday, October 20th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $20.00 price objective on shares of Umpqua in a research note on Monday, October 16th. SunTrust Banks reissued a “buy” rating and issued a $23.00 price objective on shares of Umpqua in a research note on Monday, November 6th. Piper Jaffray Companies reissued a “sell” rating and issued a $16.50 price objective on shares of Umpqua in a research note on Wednesday, October 4th. Finally, ValuEngine raised Umpqua from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $20.94.

Umpqua (UMPQ) traded up $0.16 on Friday, hitting $20.97. The stock had a trading volume of 2,056,700 shares, compared to its average volume of 1,657,733. Umpqua has a 12 month low of $16.65 and a 12 month high of $22.86. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.31. The company has a market cap of $4,583.02, a P/E ratio of 19.78, a PEG ratio of 2.00 and a beta of 1.14.

Several institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC raised its position in Umpqua by 591.2% during the second quarter. Citadel Advisors LLC now owns 2,650,601 shares of the bank’s stock valued at $48,665,000 after buying an additional 2,267,129 shares during the period. Janus Henderson Group PLC acquired a new position in Umpqua during the second quarter valued at $38,607,000. Balyasny Asset Management LLC raised its position in Umpqua by 1,072.4% during the second quarter. Balyasny Asset Management LLC now owns 1,904,913 shares of the bank’s stock valued at $34,974,000 after buying an additional 1,742,435 shares during the period. Atlanta Capital Management Co. L L C raised its position in Umpqua by 12.8% during the second quarter. Atlanta Capital Management Co. L L C now owns 10,745,502 shares of the bank’s stock valued at $197,288,000 after buying an additional 1,219,722 shares during the period. Finally, Capital World Investors raised its position in Umpqua by 6.6% during the second quarter. Capital World Investors now owns 15,273,300 shares of the bank’s stock valued at $280,418,000 after buying an additional 944,594 shares during the period. 88.15% of the stock is currently owned by institutional investors.

In other news, insider Raymond P. Davis sold 36,829 shares of the business’s stock in a transaction on 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 is available through the SEC website. 0.52% of the stock is owned by insiders.

The business also recently announced a dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 28th. Umpqua’s dividend payout ratio (DPR) is presently 67.93%.

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About Umpqua

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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