Umpqua (UMPQ) Cut to Buy at BidaskClub
Umpqua (NASDAQ:UMPQ) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.
A number of other brokerages also recently issued reports on UMPQ. SunTrust Banks reaffirmed a “buy” rating and set a $24.00 price target on shares of Umpqua in a report on Wednesday, November 29th. Zacks Investment Research downgraded Umpqua from a “hold” rating to a “sell” rating in a report on Thursday, December 21st. Wedbush raised Umpqua from a “neutral” rating to an “outperform” rating and set a $25.00 price target on the stock in a report on Thursday. Barclays upped their price target on Umpqua from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, ValuEngine raised Umpqua from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $20.94.
Umpqua (NASDAQ UMPQ) traded up $0.29 during midday trading on Friday, hitting $21.26. The stock had a trading volume of 1,580,000 shares, compared to its average volume of 1,590,000. The stock has a market capitalization of $4,680.00, a PE ratio of 20.06, a P/E/G ratio of 2.00 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.
In other Umpqua news, insider Raymond P. Davis sold 36,829 shares of the stock in a transaction dated 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 filing with the SEC, which is accessible through this link. 0.52% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Amalgamated Bank lifted its holdings in Umpqua by 1.3% in the second quarter. Amalgamated Bank now owns 31,429 shares of the bank’s stock valued at $577,000 after acquiring an additional 390 shares during the period. Advisor Group Inc. lifted its holdings in Umpqua by 2.4% in the second quarter. Advisor Group Inc. now owns 22,127 shares of the bank’s stock valued at $387,000 after acquiring an additional 523 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Umpqua by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,838 shares of the bank’s stock valued at $144,000 after acquiring an additional 632 shares during the period. QS Investors LLC lifted its holdings in Umpqua by 1.7% in the second quarter. QS Investors LLC now owns 46,938 shares of the bank’s stock valued at $862,000 after acquiring an additional 781 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in Umpqua by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 125,001 shares of the bank’s stock valued at $2,295,000 after acquiring an additional 820 shares during the period. 88.15% of the stock is currently 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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