Brokers Offer Predictions for Umpqua Holdings Corporation’s FY2018 Earnings (UMPQ)
Umpqua Holdings Corporation (NASDAQ:UMPQ) – Investment analysts at SunTrust Banks lifted their FY2018 EPS estimates for shares of Umpqua in a report released on Tuesday. SunTrust Banks analyst M. Young now forecasts that the bank will post earnings per share of $1.25 for the year, up from their previous estimate of $1.24. SunTrust Banks has a “Buy” rating and a $24.00 price objective on the stock.
UMPQ has been the subject of several other research reports. Piper Jaffray Companies reaffirmed a “sell” rating and issued a $16.50 price objective on shares of Umpqua in a research note on Wednesday, October 4th. Wells Fargo & Company upped their price objective on Umpqua from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. Keefe, Bruyette & Woods raised Umpqua from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. Barclays upped their price objective on Umpqua from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, October 20th. Finally, BidaskClub downgraded Umpqua from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $20.17.
Umpqua (NASDAQ:UMPQ) traded up $0.72 during trading on Thursday, hitting $22.15. The stock had a trading volume of 1,932,300 shares, compared to its average volume of 1,497,928. Umpqua has a one year low of $16.65 and a one year high of $22.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.98 and a quick ratio of 0.96. The firm has a market capitalization of $4,719.56, a P/E ratio of 20.61, a P/E/G ratio of 2.43 and a beta of 1.12.
Umpqua (NASDAQ:UMPQ) last issued its earnings results on Wednesday, October 18th. The bank reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). The business had revenue of $295.87 million for the quarter, compared to analyst estimates of $297.51 million. Umpqua had a return on equity of 5.79% and a net margin of 19.04%. During the same period in the previous year, the firm posted $0.28 EPS.
Hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC bought a new stake in Umpqua in the second quarter valued at approximately $203,000. Brookstone Capital Management bought a new stake in Umpqua in the second quarter valued at approximately $285,000. FMR LLC boosted its holdings in Umpqua by 23.8% in the second quarter. FMR LLC now owns 684,900 shares of the bank’s stock valued at $12,575,000 after acquiring an additional 131,600 shares during the last quarter. Legal & General Group Plc boosted its holdings in Umpqua by 14.3% in the second quarter. Legal & General Group Plc now owns 251,143 shares of the bank’s stock valued at $4,614,000 after acquiring an additional 31,336 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Umpqua by 59.1% in the second quarter. SG Americas Securities LLC now owns 81,300 shares of the bank’s stock valued at $1,493,000 after acquiring an additional 30,198 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.
In other news, insider Raymond P. Davis sold 36,829 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $20.60, for a total value of $758,677.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.52% of the company’s stock.
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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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