Umpqua (NASDAQ:UMPQ) had its price objective increased by equities researchers at Barclays from $20.00 to $22.00 in a note issued to investors on Tuesday. The firm presently has an “equal weight” rating on the bank’s stock. Barclays’ target price indicates a potential upside of 5.72% from the company’s previous close.
A number of other brokerages have also recently commented on UMPQ. Wells Fargo & Co upped their target price on shares of Umpqua from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Friday, October 20th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $20.00 price target on shares of Umpqua in a research report on Monday, October 16th. ValuEngine upgraded shares of Umpqua from a “hold” rating to a “buy” rating in a research report on Sunday. SunTrust Banks reiterated a “buy” rating and issued a $23.00 price target on shares of Umpqua in a research report on Monday, November 6th. Finally, Piper Jaffray Companies reiterated a “sell” rating and issued a $16.50 price target on shares of Umpqua in a research report on Wednesday, October 4th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $20.94.
Shares of Umpqua (UMPQ) traded down $0.01 during mid-day trading on Tuesday, reaching $20.81. 1,192,600 shares of the company’s stock were exchanged, compared to its average volume of 1,458,250. Umpqua has a twelve month low of $16.65 and a twelve month high of $22.86. The stock has a market capitalization of $4,630.00, a PE ratio of 19.63, a P/E/G ratio of 2.00 and a beta of 1.14. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.31.
Umpqua (NASDAQ:UMPQ) last announced its earnings results 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 net margin of 19.04% and a return on equity of 5.79%. The business had revenue of $295.87 million for the quarter, compared to analysts’ expectations of $297.51 million. During the same period in the prior year, the company posted $0.28 earnings per share. sell-side analysts predict that Umpqua will post 1.03 earnings per share for the current year.
In other Umpqua news, insider Raymond P. Davis sold 36,829 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $20.60, for a total value of $758,677.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.52% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Amalgamated Bank boosted its position in shares of Umpqua by 1.3% during the second quarter. Amalgamated Bank now owns 31,429 shares of the bank’s stock worth $577,000 after acquiring an additional 390 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Umpqua by 2.4% during the second quarter. Advisor Group Inc. now owns 22,127 shares of the bank’s stock worth $387,000 after acquiring an additional 523 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Umpqua by 8.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,838 shares of the bank’s stock worth $144,000 after acquiring an additional 632 shares during the last quarter. QS Investors LLC boosted its position in shares of Umpqua by 1.7% during the second quarter. QS Investors LLC now owns 46,938 shares of the bank’s stock worth $862,000 after acquiring an additional 781 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Umpqua by 0.7% during the second quarter. Public Employees Retirement System of Ohio now owns 125,001 shares of the bank’s stock worth $2,295,000 after acquiring an additional 820 shares during the last quarter. Hedge funds and other institutional investors own 88.15% of the company’s stock.
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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