Umpqua Holdings Corp (NASDAQ:UMPQ) – Equities researchers at Wedbush lowered their FY2018 earnings estimates for Umpqua in a research note issued to investors on Monday. Wedbush analyst D. Chiaverini now anticipates that the bank will earn $1.35 per share for the year, down from their previous forecast of $1.46. Wedbush currently has a “Outperform” rating and a $25.00 target price on the stock. Wedbush also issued estimates for Umpqua’s Q4 2018 earnings at $0.36 EPS, FY2019 earnings at $1.57 EPS and FY2020 earnings at $1.76 EPS.
UMPQ has been the topic of several other research reports. Keefe, Bruyette & Woods raised Umpqua from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 8th. JPMorgan Chase & Co. cut their price objective on Umpqua from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Zacks Investment Research raised Umpqua from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a research report on Friday, January 12th. Barclays increased their price target on Umpqua from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, BidaskClub downgraded Umpqua from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $21.80.
Umpqua (NASDAQ:UMPQ) last announced its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.09. The company had revenue of $292.60 million for the quarter, compared to the consensus estimate of $293.80 million. Umpqua had a return on equity of 5.92% and a net margin of 20.30%. Umpqua’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 EPS.
A number of hedge funds have recently modified their holdings of UMPQ. Raymond James Financial Services Advisors Inc. boosted its position in Umpqua by 11.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 37,822 shares of the bank’s stock valued at $694,000 after purchasing an additional 3,882 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Umpqua by 0.7% during the second quarter. Public Employees Retirement System of Ohio now owns 125,001 shares of the bank’s stock valued at $2,295,000 after purchasing an additional 820 shares in the last quarter. Nationwide Fund Advisors boosted its position in Umpqua by 8.3% during the third quarter. Nationwide Fund Advisors now owns 727,102 shares of the bank’s stock valued at $14,186,000 after purchasing an additional 56,021 shares in the last quarter. Aperio Group LLC boosted its position in Umpqua by 2.3% during the third quarter. Aperio Group LLC now owns 175,370 shares of the bank’s stock valued at $3,421,000 after purchasing an additional 4,003 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in Umpqua during the third quarter valued at about $373,000. 88.96% of the stock is currently owned by institutional investors.
In other news, CFO Ron L. Farnsworth sold 5,795 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $21.45, for a total transaction of $124,302.75. Following the transaction, the chief financial officer now owns 188,809 shares of the company’s stock, valued at approximately $4,049,953.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is currently owned by corporate insiders.
Umpqua Company Profile
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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