Truist Securities Lowers Umpqua (NASDAQ:UMPQ) to Hold

Truist Securities lowered shares of Umpqua (NASDAQ:UMPQ) from a buy rating to a hold rating in a research report report published on Wednesday, Price Targets.com reports. Truist Securities currently has $21.00 target price on the bank’s stock, down from their prior target price of $22.00.

UMPQ has been the topic of a number of other reports. Zacks Investment Research cut shares of Umpqua from a buy rating to a hold rating in a report on Tuesday, October 5th. Stephens downgraded shares of Umpqua from an overweight rating to an equal weight rating and dropped their target price for the stock from $23.00 to $19.00 in a research note on Wednesday. Truist lowered shares of Umpqua from a buy rating to a hold rating and reduced their target price for the stock from $22.00 to $21.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. upgraded Umpqua from an underweight rating to a neutral rating and set a $22.50 price target for the company in a report on Monday, July 26th. Eight research analysts have rated the stock with a hold rating, According to MarketBeat.com, Umpqua presently has an average rating of Hold and a consensus price target of $19.31.

Shares of NASDAQ:UMPQ opened at $20.09 on Wednesday. The firm has a fifty day simple moving average of $19.83 and a two-hundred day simple moving average of $18.96. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $4.42 billion, a P/E ratio of 8.85 and a beta of 1.24. Umpqua has a 52 week low of $11.70 and a 52 week high of $21.31.

Umpqua (NASDAQ:UMPQ) last issued its quarterly earnings data on Tuesday, July 20th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. The business had revenue of $320.84 million for the quarter, compared to the consensus estimate of $311.70 million. Umpqua had a return on equity of 18.56% and a net margin of 34.90%. During the same period in the prior year, the business posted $0.24 earnings per share. On average, analysts expect that Umpqua will post 1.9 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 31st. Stockholders of record on Friday, August 20th were issued a $0.21 dividend. The ex-dividend date was Thursday, August 19th. This represents a $0.84 annualized dividend and a dividend yield of 4.18%. Umpqua’s dividend payout ratio is currently -100.00%.

Hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank raised its stake in Umpqua by 13.3% in the second quarter. Toronto Dominion Bank now owns 5,095 shares of the bank’s stock worth $94,000 after buying an additional 598 shares in the last quarter. Traverso Chambers Private Wealth Management LLC increased its holdings in shares of Umpqua by 2.8% in the 3rd quarter. Traverso Chambers Private Wealth Management LLC now owns 32,410 shares of the bank’s stock valued at $656,000 after acquiring an additional 888 shares during the period. Baird Financial Group Inc. raised its position in shares of Umpqua by 6.4% in the 1st quarter. Baird Financial Group Inc. now owns 16,717 shares of the bank’s stock worth $293,000 after acquiring an additional 1,000 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Umpqua by 3.9% during the 2nd quarter. Victory Capital Management Inc. now owns 31,983 shares of the bank’s stock worth $590,000 after purchasing an additional 1,187 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Umpqua by 117.0% during the 2nd quarter. FMR LLC now owns 2,871 shares of the bank’s stock worth $53,000 after purchasing an additional 1,548 shares during the last quarter. 87.79% of the stock is currently owned by institutional investors.

Umpqua Company Profile

Umpqua Holdings Corp. operates as a bank holding company, which provides banking and financial services. The firm operates through followings segments: Wholesale Bank, Wealth Management, Retail Bank and Home Lending. The Wholesale Bank segment includes lending, treasury and cash management services and customer risk management products to middle market corporate, commercial and business banking customers and the operations of FinPac.

See Also: What is a Fiduciary?

Analyst Recommendations for Umpqua (NASDAQ:UMPQ)

Receive News & Ratings for Umpqua Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Umpqua and related companies with MarketBeat.com's FREE daily email newsletter.