ValuEngine Lowers Umpqua (UMPQ) to Hold
Umpqua (NASDAQ:UMPQ) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised Umpqua from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. JPMorgan Chase & Co. lowered their price objective on Umpqua from $26.00 to $25.00 and set a “$22.72” rating for the company in a research note on Monday, July 23rd. BidaskClub downgraded Umpqua from a “hold” rating to a “sell” rating in a research note on Thursday, August 30th. Hovde Group set a $24.00 price objective on Umpqua and gave the stock a “hold” rating in a research note on Monday, July 23rd. Finally, Barclays lowered their price objective on Umpqua from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Umpqua presently has an average rating of “Hold” and a consensus target price of $24.25.
UMPQ stock opened at $20.95 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.29. The company has a market cap of $4.75 billion, a P/E ratio of 19.58, a PEG ratio of 1.70 and a beta of 0.95. Umpqua has a 12-month low of $19.16 and a 12-month high of $24.89.
Institutional investors and hedge funds have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. bought a new position in Umpqua during the 2nd quarter worth $10,212,000. Cooke & Bieler LP grew its stake in shares of Umpqua by 4.4% in the first quarter. Cooke & Bieler LP now owns 1,373,180 shares of the bank’s stock worth $29,400,000 after purchasing an additional 57,630 shares in the last quarter. First Allied Advisory Services Inc. bought a new position in shares of Umpqua in the second quarter worth $222,000. Royal Bank of Canada grew its stake in shares of Umpqua by 0.9% in the first quarter. Royal Bank of Canada now owns 524,574 shares of the bank’s stock worth $11,231,000 after purchasing an additional 4,929 shares in the last quarter. Finally, ARP Americas LP bought a new position in shares of Umpqua in the second quarter worth $203,000. Hedge funds and other institutional investors own 88.53% of the company’s stock.
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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