Umpqua (NASDAQ:UMPQ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “UMPQUA HOLDINGS is a financial holding company. Through its subsidiaries, the company engages primarily in the business of commercial and retail banking and the delivery of retail brokerage services. “
A number of other equities research analysts have also issued reports on UMPQ. BidaskClub raised Umpqua from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Hovde Group reaffirmed a “hold” rating and set a $22.50 price target on shares of Umpqua in a research report on Tuesday, February 6th. ValuEngine raised Umpqua from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. lowered their price target on Umpqua from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Finally, Barclays boosted their price target on Umpqua from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Umpqua has an average rating of “Hold” and a consensus price target of $21.80.
Umpqua (NASDAQ:UMPQ) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.09. Umpqua had a return on equity of 5.92% and a net margin of 20.30%. The business had revenue of $292.60 million for the quarter, compared to analyst estimates of $293.80 million. During the same quarter last year, the firm earned $0.27 EPS. Umpqua’s revenue for the quarter was down 4.5% compared to the same quarter last year. analysts anticipate that Umpqua will post 1.36 EPS for the current fiscal year.
In other Umpqua news, CFO Ron L. Farnsworth sold 5,795 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $21.45, for a total transaction of $124,302.75. Following the transaction, the chief financial officer now owns 188,809 shares of the company’s stock, valued at approximately $4,049,953.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC bought a new position in shares of Umpqua during the 2nd quarter worth approximately $203,000. California Public Employees Retirement System boosted its stake in shares of Umpqua by 7.3% during the 3rd quarter. California Public Employees Retirement System now owns 627,728 shares of the bank’s stock worth $12,247,000 after acquiring an additional 42,945 shares during the period. FMR LLC boosted its stake in shares of Umpqua by 23.8% during the 2nd quarter. FMR LLC now owns 684,900 shares of the bank’s stock worth $12,575,000 after acquiring an additional 131,600 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Umpqua by 5.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,657,540 shares of the bank’s stock worth $32,339,000 after acquiring an additional 91,242 shares during the period. Finally, NJ State Employees Deferred Compensation Plan bought a new position in shares of Umpqua during the 3rd quarter worth approximately $780,000. Institutional investors own 88.06% of the company’s stock.
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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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