Umpqua Holdings Corporation to Post FY2017 Earnings of $1.04 Per Share, SunTrust Banks Forecasts (UMPQ)
Umpqua Holdings Corporation (NASDAQ:UMPQ) – Equities researchers at SunTrust Banks increased their FY2017 earnings estimates for Umpqua in a note issued to investors on Monday. SunTrust Banks analyst M. Young now anticipates that the bank will post earnings per share of $1.04 for the year, up from their prior estimate of $1.03. SunTrust Banks has a “Buy” rating and a $24.00 price objective on the stock. SunTrust Banks also issued estimates for Umpqua’s Q1 2018 earnings at $0.32 EPS and Q2 2018 earnings at $0.36 EPS.
Umpqua (NASDAQ:UMPQ) last posted its quarterly earnings data on Wednesday, October 18th. The bank reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). The company had revenue of $295.87 million for the quarter, compared to analysts’ expectations of $297.51 million. Umpqua had a net margin of 19.04% and a return on equity of 5.79%. During the same period in the previous year, the business earned $0.28 earnings per share.
A number of other equities research analysts have also recently commented on UMPQ. ValuEngine upgraded shares of Umpqua from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. Piper Jaffray Companies restated a “sell” rating and set a $16.50 price objective on shares of Umpqua in a research report on Wednesday, October 4th. Keefe, Bruyette & Woods restated a “hold” rating and set a $20.00 price objective on shares of Umpqua in a research report on Monday, October 16th. Wells Fargo & Co raised their price objective on shares of Umpqua from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Finally, Barclays raised their price objective on shares of Umpqua from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Umpqua has a consensus rating of “Hold” and an average target price of $20.94.
Shares of Umpqua (NASDAQ UMPQ) opened at $21.40 on Tuesday. The company has a market cap of $4,682.13, a PE ratio of 20.19, a PEG ratio of 2.00 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.98 and a quick ratio of 0.96. Umpqua has a 12-month low of $16.65 and a 12-month high of $22.86.
The company also recently declared a dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $0.18 dividend. The ex-dividend date is Thursday, December 28th. Umpqua’s dividend payout ratio is currently 67.93%.
In related news, insider Raymond P. Davis sold 36,829 shares of Umpqua stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $20.60, for a total value of $758,677.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank increased its stake in Umpqua by 1.3% in the 2nd quarter. Amalgamated Bank now owns 31,429 shares of the bank’s stock valued at $577,000 after buying an additional 390 shares during the period. Advisor Group Inc. increased its stake in Umpqua by 2.4% in the 2nd quarter. Advisor Group Inc. now owns 22,127 shares of the bank’s stock valued at $387,000 after buying an additional 523 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Umpqua by 8.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,838 shares of the bank’s stock valued at $144,000 after buying an additional 632 shares during the period. QS Investors LLC increased its stake in Umpqua by 1.7% in the 2nd quarter. QS Investors LLC now owns 46,938 shares of the bank’s stock valued at $862,000 after buying an additional 781 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in Umpqua by 0.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 125,001 shares of the bank’s stock valued at $2,295,000 after buying an additional 820 shares during the period. 88.15% of the stock is currently owned by institutional investors.
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Umpqua Company Profile
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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