Umpqua Holdings Corp (NASDAQ:UMPQ) – Stock analysts at SunTrust Banks lifted their FY2018 earnings estimates for Umpqua in a note issued to investors on Wednesday, October 31st. SunTrust Banks analyst M. Young now expects that the bank will post earnings of $1.45 per share for the year, up from their prior forecast of $1.37. SunTrust Banks also issued estimates for Umpqua’s Q4 2018 earnings at $0.38 EPS, Q2 2019 earnings at $0.41 EPS, Q4 2019 earnings at $0.42 EPS, FY2019 earnings at $1.64 EPS, Q1 2020 earnings at $0.42 EPS, Q2 2020 earnings at $0.43 EPS, Q3 2020 earnings at $0.47 EPS and FY2020 earnings at $1.79 EPS.
Umpqua (NASDAQ:UMPQ) last posted its earnings results on Wednesday, October 17th. The bank reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.05. The firm had revenue of $313.76 million during the quarter, compared to analysts’ expectations of $309.37 million. Umpqua had a net margin of 24.23% and a return on equity of 7.74%. During the same period last year, the company posted $0.28 EPS.
UMPQ has been the subject of several other reports. Piper Jaffray Companies set a $20.00 price target on shares of Umpqua and gave the stock a “sell” rating in a research note on Thursday, August 2nd. BidaskClub upgraded shares of Umpqua from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Zacks Investment Research upgraded shares of Umpqua from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Raymond James decreased their price target on shares of Umpqua from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Finally, Wells Fargo & Co set a $22.00 price target on shares of Umpqua and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Umpqua currently has an average rating of “Hold” and an average target price of $23.85.
Shares of Umpqua stock opened at $19.20 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.99 and a quick ratio of 0.98. The stock has a market capitalization of $4.21 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96. Umpqua has a 1 year low of $18.17 and a 1 year high of $24.89.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Foster & Motley Inc. boosted its holdings in shares of Umpqua by 15.6% during the 3rd quarter. Foster & Motley Inc. now owns 20,912 shares of the bank’s stock valued at $435,000 after acquiring an additional 2,826 shares during the last quarter. WBI Investments Inc. purchased a new stake in shares of Umpqua during the 3rd quarter valued at about $1,280,000. TCW Group Inc. boosted its holdings in shares of Umpqua by 28.7% during the 3rd quarter. TCW Group Inc. now owns 166,781 shares of the bank’s stock valued at $3,469,000 after acquiring an additional 37,165 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Umpqua by 2.3% during the 3rd quarter. Arizona State Retirement System now owns 156,356 shares of the bank’s stock valued at $3,252,000 after acquiring an additional 3,495 shares during the last quarter. Finally, Congress Asset Management Co. MA boosted its holdings in shares of Umpqua by 11.8% during the 3rd quarter. Congress Asset Management Co. MA now owns 40,430 shares of the bank’s stock valued at $841,000 after acquiring an additional 4,270 shares during the last quarter. 89.33% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were paid a dividend of $0.21 per share. This is a positive change from Umpqua’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Thursday, September 27th. Umpqua’s dividend payout ratio (DPR) is currently 78.50%.
Umpqua Company Profile
Umpqua Holdings Corporation, through its subsidiaries, provides commercial and retail banking, and retail brokerage services. It operates through four segments: Commercial 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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