$301.88 Million in Sales Expected for Umpqua Holdings Corp (UMPQ) This Quarter
Wall Street brokerages predict that Umpqua Holdings Corp (NASDAQ:UMPQ) will announce $301.88 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Umpqua’s earnings. The highest sales estimate is $305.66 million and the lowest is $296.20 million. Umpqua posted sales of $301.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 0%. The firm is scheduled to report its next earnings report on Wednesday, April 17th.
According to Zacks, analysts expect that Umpqua will report full-year sales of $1.25 billion for the current fiscal year, with estimates ranging from $1.23 billion to $1.27 billion. For the next year, analysts anticipate that the firm will report sales of $1.31 billion, with estimates ranging from $1.27 billion to $1.35 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Umpqua.
Umpqua (NASDAQ:UMPQ) last posted its earnings results on Wednesday, January 23rd. The bank reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.03). The firm had revenue of $304.20 million for the quarter, compared to analyst estimates of $306.36 million. Umpqua had a return on equity of 8.05% and a net margin of 23.51%. During the same period in the previous year, the company posted $0.28 EPS.
In related news, CFO Ron L. Farnsworth sold 9,500 shares of the firm’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $17.62, for a total transaction of $167,390.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.43% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of UMPQ. Standard Life Aberdeen plc boosted its position in shares of Umpqua by 17.5% in the third quarter. Standard Life Aberdeen plc now owns 775,118 shares of the bank’s stock valued at $16,134,000 after acquiring an additional 115,293 shares during the period. Retirement Systems of Alabama lifted its position in Umpqua by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 285,555 shares of the bank’s stock valued at $4,540,000 after purchasing an additional 983 shares during the last quarter. Credit Suisse AG lifted its position in Umpqua by 17.7% during the third quarter. Credit Suisse AG now owns 206,343 shares of the bank’s stock valued at $4,293,000 after purchasing an additional 31,060 shares during the last quarter. American Century Companies Inc. bought a new stake in Umpqua during the third quarter valued at approximately $3,333,000. Finally, Alliancebernstein L.P. lifted its position in Umpqua by 22.7% during the third quarter. Alliancebernstein L.P. now owns 6,439,882 shares of the bank’s stock valued at $133,950,000 after purchasing an additional 1,192,552 shares during the last quarter. Hedge funds and other institutional investors own 89.09% of the company’s stock.
UMPQ stock traded up $0.06 during midday trading on Wednesday, reaching $16.05. The company’s stock had a trading volume of 2,415,479 shares, compared to its average volume of 2,029,828. Umpqua has a 52 week low of $15.09 and a 52 week high of $24.89. The stock has a market cap of $3.52 billion, a PE ratio of 10.99, a PEG ratio of 1.08 and a beta of 1.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.98 and a current ratio of 0.99.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend is Thursday, March 28th. Umpqua’s payout ratio is currently 57.53%.
Umpqua Holdings Corporation operates as the holding company of Umpqua Bank that provides commercial and retail banking, and retail brokerage services. It operates through four segments: Wholesale 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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