Analysts Set Umpqua Holdings Corp (UMPQ) Target Price at $24.00
Shares of Umpqua Holdings Corp (NASDAQ:UMPQ) have been assigned an average recommendation of “Hold” from the fourteen ratings firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $24.00.
A number of brokerages have recently issued reports on UMPQ. BidaskClub cut Umpqua from a “hold” rating to a “sell” rating in a report on Thursday, September 20th. Zacks Investment Research cut Umpqua from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. ValuEngine upgraded Umpqua from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Finally, Piper Jaffray Companies set a $20.00 price target on Umpqua and gave the stock a “sell” rating in a report on Thursday, August 2nd.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in shares of Umpqua by 135.4% in the 1st quarter. Millennium Management LLC now owns 6,006,151 shares of the bank’s stock valued at $128,592,000 after purchasing an additional 3,455,114 shares in the last quarter. Miller Howard Investments Inc. NY acquired a new position in shares of Umpqua in the 2nd quarter valued at approximately $26,307,000. Carillon Tower Advisers Inc. acquired a new position in shares of Umpqua in the 1st quarter valued at approximately $23,435,000. Mainstay Capital Management LLC ADV raised its position in shares of Umpqua by 964.0% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 1,098,174 shares of the bank’s stock valued at $47,583,000 after purchasing an additional 994,958 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its position in shares of Umpqua by 61.9% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 2,310,306 shares of the bank’s stock valued at $52,190,000 after purchasing an additional 883,556 shares in the last quarter. Hedge funds and other institutional investors own 88.53% of the company’s stock.
Umpqua (NASDAQ:UMPQ) last issued its earnings results on Wednesday, July 18th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.03). Umpqua had a return on equity of 7.11% and a net margin of 22.53%. The firm had revenue of $298.95 million for the quarter, compared to analysts’ expectations of $304.67 million. During the same quarter in the previous year, the firm posted $0.26 EPS. sell-side analysts forecast that Umpqua will post 1.41 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Thursday, September 27th. This is a boost from Umpqua’s previous quarterly dividend of $0.20. Umpqua’s dividend payout ratio is currently 74.77%.
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.
Further Reading: Diversification
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