Umpqua’s (UMPQ) “Buy” Rating Reaffirmed at SunTrust Banks
SunTrust Banks restated their buy rating on shares of Umpqua (NASDAQ:UMPQ) in a report released on Wednesday morning. They currently have a $24.00 target price on the bank’s stock. SunTrust Banks also issued estimates for Umpqua’s FY2018 earnings at $1.25 EPS.
A number of other equities research analysts have also weighed in on UMPQ. BidaskClub lowered shares of Umpqua from a sell rating to a strong sell rating in a report on Saturday, August 12th. Barclays boosted their price objective on shares of Umpqua from $19.00 to $20.00 and gave the stock an equal weight rating in a report on Friday, October 20th. ValuEngine upgraded shares of Umpqua from a hold rating to a buy rating in a report on Monday, September 18th. Keefe, Bruyette & Woods upgraded shares of Umpqua from a market perform rating to an outperform rating in a report on Wednesday, November 8th. Finally, Piper Jaffray Companies restated a sell rating and issued a $16.50 price objective on shares of Umpqua in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $20.17.
Shares of Umpqua (NASDAQ UMPQ) opened at $22.15 on Wednesday. The firm has a market cap of $4,719.56, a P/E ratio of 20.61, a PEG ratio of 2.43 and a beta of 1.12. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.31. Umpqua has a 1-year low of $16.65 and a 1-year high of $22.18.
Umpqua (NASDAQ:UMPQ) last announced its quarterly earnings data on Wednesday, October 18th. The bank reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). The business had revenue of $295.87 million during the quarter, compared to the consensus estimate of $297.51 million. Umpqua had a return on equity of 5.79% and a net margin of 19.04%. During the same quarter in the previous year, the firm posted $0.28 earnings per share. research analysts predict that Umpqua will post 1.04 earnings per share for the current year.
In related news, insider Raymond P. Davis sold 36,829 shares of Umpqua stock in a transaction 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 SEC, which is available through this hyperlink. 0.52% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its position in Umpqua by 18.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 147,716 shares of the bank’s stock valued at $2,882,000 after purchasing an additional 22,715 shares during the period. Sterling Capital Management LLC increased its position in Umpqua by 11.3% during the 3rd quarter. Sterling Capital Management LLC now owns 877,433 shares of the bank’s stock valued at $17,119,000 after purchasing an additional 88,842 shares during the period. California Public Employees Retirement System increased its position in Umpqua by 7.3% during the 3rd quarter. California Public Employees Retirement System now owns 627,728 shares of the bank’s stock valued at $12,247,000 after purchasing an additional 42,945 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Umpqua during the 3rd quarter valued at $540,000. Finally, Zions Bancorporation purchased a new position in Umpqua during the 3rd quarter valued at $121,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.
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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