Brokerages Expect Umpqua Holdings Corp (UMPQ) Will Post Quarterly Sales of $301.29 Million
Wall Street brokerages expect that Umpqua Holdings Corp (NASDAQ:UMPQ) will report sales of $301.29 million for the current quarter, Zacks reports. Six analysts have made estimates for Umpqua’s earnings, with the highest sales estimate coming in at $305.66 million and the lowest estimate coming in at $296.20 million. Umpqua reported sales of $301.80 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.2%. The company is expected to report its next earnings results after the market closes on Wednesday, April 17th.
On average, analysts expect that Umpqua will report full year sales of $1.25 billion for the current year, with estimates ranging from $1.23 billion to $1.27 billion. For the next financial year, analysts forecast that the company will report sales of $1.30 billion, with estimates ranging from $1.27 billion to $1.35 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Umpqua.
Umpqua (NASDAQ:UMPQ) last released its quarterly earnings results on Wednesday, January 23rd. The bank reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Umpqua had a return on equity of 8.05% and a net margin of 23.51%. The firm had revenue of $304.20 million for the quarter, compared to analysts’ expectations of $306.36 million. During the same quarter last year, the firm posted $0.28 earnings per share.
Umpqua stock traded down $0.21 during midday trading on Friday, hitting $17.87. 2,381,997 shares of the stock were exchanged, compared to its average volume of 1,923,447. Umpqua has a 52-week low of $15.09 and a 52-week high of $24.89. The stock has a market cap of $3.89 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.20 and a beta of 1.08. 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 firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.70%. The ex-dividend date was Thursday, March 28th. Umpqua’s dividend payout ratio (DPR) is currently 57.53%.
In other news, CFO Ron L. Farnsworth sold 9,500 shares of the business’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $17.62, for a total value of $167,390.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.43% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Trust N.A. raised its position in shares of Umpqua by 17.4% in the first quarter. Raymond James Trust N.A. now owns 14,111 shares of the bank’s stock valued at $233,000 after purchasing an additional 2,092 shares during the period. Retirement Systems of Alabama raised its position in shares of Umpqua by 0.5% in the first quarter. Retirement Systems of Alabama now owns 286,853 shares of the bank’s stock valued at $4,733,000 after purchasing an additional 1,298 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Umpqua by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 59,000 shares of the bank’s stock valued at $974,000 after purchasing an additional 600 shares during the period. Scout Investments Inc. increased its holdings in Umpqua by 36.8% during the 1st quarter. Scout Investments Inc. now owns 1,424,217 shares of the bank’s stock worth $23,500,000 after acquiring an additional 382,815 shares during the period. Finally, Hamlin Capital Management LLC increased its holdings in Umpqua by 25.6% during the 1st quarter. Hamlin Capital Management LLC now owns 2,753,607 shares of the bank’s stock worth $45,435,000 after acquiring an additional 560,777 shares during the period. 88.97% of the stock is currently owned by institutional investors.
Umpqua Company Profile
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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