Zacks Investment Research upgraded shares of Umpqua (NASDAQ:UMPQ) from a hold rating to a buy rating in a research note released on Thursday morning. The firm currently has $22.00 price objective on the bank’s stock.

According to Zacks, “UMPQUA HOLDINGS is a financial holding company. Through its subsidiaries, the company engages primarily in the business of commercial and retail banking and the delivery of retail brokerage services. “

A number of other research firms have also recently weighed in on UMPQ. BidaskClub cut Umpqua from a sell rating to a strong sell rating in a report on Wednesday, October 24th. Piper Jaffray Companies upgraded Umpqua from an underweight rating to a neutral rating and set a $20.00 price target for the company in a report on Wednesday, November 21st. ValuEngine cut Umpqua from a buy rating to a hold rating in a report on Thursday, September 27th. Finally, Wells Fargo & Co set a $22.00 price target on Umpqua and gave the stock a hold rating in a report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $23.92.

Shares of NASDAQ UMPQ traded up $0.34 during mid-day trading on Thursday, reaching $18.18. 740,659 shares of the company’s stock were exchanged, compared to its average volume of 1,300,639. The stock has a market cap of $3.97 billion, a PE ratio of 16.99, a P/E/G ratio of 1.36 and a beta of 0.95. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.28. Umpqua has a 52-week low of $17.37 and a 52-week high of $24.89.

Umpqua (NASDAQ:UMPQ) last released its quarterly earnings results on Wednesday, October 17th. The bank reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. The business had revenue of $313.76 million during the quarter, compared to analysts’ expectations of $309.37 million. Umpqua had a return on equity of 7.74% and a net margin of 24.23%. During the same period in the prior year, the business posted $0.28 EPS. Research analysts predict that Umpqua will post 1.47 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB purchased a new position in Umpqua during the 3rd quarter valued at about $21,424,000. Access Financial Services Inc. purchased a new position in Umpqua during the 3rd quarter valued at about $664,000. First Allied Advisory Services Inc. purchased a new position in Umpqua during the 2nd quarter valued at about $222,000. Robeco Institutional Asset Management B.V. purchased a new position in Umpqua during the 2nd quarter valued at about $10,212,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in Umpqua by 90.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 258,560 shares of the bank’s stock valued at $5,841,000 after acquiring an additional 122,605 shares during the period. Institutional investors own 88.44% of the company’s stock.

About Umpqua

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.

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