Umpqua Holdings Corp (NASDAQ:UMPQ) – Wedbush issued their FY2018 earnings estimates for Umpqua in a research report issued to clients and investors on Monday, October 22nd. Wedbush analyst D. Chiaverini expects that the bank will post earnings of $1.44 per share for the year. Wedbush also issued estimates for Umpqua’s FY2019 earnings at $1.62 EPS.
A number of other equities research analysts also recently issued reports on the stock. BidaskClub downgraded shares of Umpqua from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Zacks Investment Research raised shares of Umpqua from a “sell” rating to a “hold” rating and set a $21.00 price objective for the company in a research report on Tuesday. Raymond James reduced their price objective on shares of Umpqua from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Wells Fargo & Co set a $22.00 price objective on shares of Umpqua and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Finally, ValuEngine downgraded shares of Umpqua from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $23.85.
Umpqua (NASDAQ:UMPQ) last posted its earnings results on Wednesday, October 17th. The bank reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.05. Umpqua had a net margin of 24.23% and a return on equity of 7.74%. The company had revenue of $313.76 million for the quarter, compared to analyst estimates of $309.37 million. During the same quarter in the prior year, the business posted $0.28 EPS.
Several institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in shares of Umpqua by 10.3% during the 2nd quarter. Millennium Management LLC now owns 6,623,228 shares of the bank’s stock valued at $149,619,000 after acquiring an additional 617,077 shares during the period. Macquarie Group Ltd. grew its position in shares of Umpqua by 0.3% during the 2nd quarter. Macquarie Group Ltd. now owns 5,711,576 shares of the bank’s stock valued at $129,025,000 after acquiring an additional 14,549 shares during the period. Principal Financial Group Inc. grew its position in shares of Umpqua by 32.3% during the 1st quarter. Principal Financial Group Inc. now owns 2,332,164 shares of the bank’s stock valued at $49,932,000 after acquiring an additional 569,658 shares during the period. Segall Bryant & Hamill LLC grew its position in shares of Umpqua by 61.9% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 2,310,306 shares of the bank’s stock valued at $52,190,000 after acquiring an additional 883,556 shares during the period. Finally, Glenmede Trust Co. NA grew its position in shares of Umpqua by 22.4% during the 2nd quarter. Glenmede Trust Co. NA now owns 2,208,765 shares of the bank’s stock valued at $49,896,000 after acquiring an additional 404,283 shares during the period. 88.73% of the stock is owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.50%. This is an increase from Umpqua’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, September 27th. Umpqua’s dividend payout ratio is presently 78.50%.
Umpqua Company Profile
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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