Umpqua Holdings Co. (NASDAQ:UMPQ) – Research analysts at Piper Sandler cut their FY2021 earnings estimates for Umpqua in a research report issued to clients and investors on Tuesday, October 12th. Piper Sandler analyst M. Clark now anticipates that the bank will earn $1.91 per share for the year, down from their previous estimate of $1.92. Piper Sandler also issued estimates for Umpqua’s Q4 2021 earnings at $0.45 EPS, Q1 2022 earnings at $0.38 EPS, Q2 2022 earnings at $0.39 EPS, Q3 2022 earnings at $0.40 EPS, FY2022 earnings at $1.58 EPS, Q1 2023 earnings at $0.42 EPS, Q2 2023 earnings at $0.46 EPS, Q3 2023 earnings at $0.48 EPS and FY2023 earnings at $1.85 EPS.
UMPQ has been the topic of several other reports. Truist Financial downgraded Umpqua to a “hold” rating and set a $21.00 price target on the stock. in a research report on Wednesday. Truist lowered shares of Umpqua from a “buy” rating to a “hold” rating and dropped their price target for the stock from $22.00 to $21.00 in a research report on Wednesday. Stephens downgraded Umpqua from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $23.00 to $19.00 in a report on Wednesday. Zacks Investment Research downgraded Umpqua from a “buy” rating to a “hold” rating in a research report on Tuesday, October 5th. Finally, JPMorgan Chase & Co. upgraded Umpqua from an “underweight” rating to a “neutral” rating and set a $22.50 price target on the stock in a research report on Monday, July 26th. Eight investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.31.
Umpqua (NASDAQ:UMPQ) last released its quarterly earnings results on Tuesday, July 20th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.09. The company had revenue of $320.84 million during the quarter, compared to the consensus estimate of $311.70 million. Umpqua had a return on equity of 18.56% and a net margin of 34.90%. During the same quarter in the prior year, the company posted $0.24 EPS.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Umpqua by 3.4% during the second quarter. Vanguard Group Inc. now owns 23,090,203 shares of the bank’s stock worth $426,014,000 after acquiring an additional 753,071 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Umpqua by 24.7% in the 2nd quarter. Macquarie Group Ltd. now owns 13,256,198 shares of the bank’s stock valued at $244,576,000 after purchasing an additional 2,627,577 shares during the last quarter. State Street Corp grew its position in shares of Umpqua by 9.9% during the 2nd quarter. State Street Corp now owns 11,456,120 shares of the bank’s stock worth $211,365,000 after buying an additional 1,032,331 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Umpqua by 7.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,445,805 shares of the bank’s stock worth $174,274,000 after buying an additional 669,646 shares during the period. Finally, Cooke & Bieler LP raised its stake in shares of Umpqua by 4.5% during the second quarter. Cooke & Bieler LP now owns 4,437,530 shares of the bank’s stock worth $81,872,000 after buying an additional 192,321 shares during the last quarter. Hedge funds and other institutional investors own 87.79% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 31st. Stockholders of record on Friday, August 20th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, August 19th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.18%. Umpqua’s payout ratio is -100.00%.
Umpqua Company Profile
Umpqua Holdings Corp. operates as a bank holding company, which provides banking and financial services. The firm operates through followings segments: Wholesale Bank, Wealth Management, Retail Bank and Home Lending. The Wholesale Bank segment includes lending, treasury and cash management services and customer risk management products to middle market corporate, commercial and business banking customers and the operations of FinPac.
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