Umpqua (NASDAQ:UMPQ) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Umpqua (NASDAQ:UMPQ) from a sell rating to a hold rating in a research report released on Friday, Zacks.com reports.

According to Zacks, “UMPQUA HOLDINGS is a financial holding company. Through its subsidiaries, the company engages primarily in the business of commercial and retail banking and the delivery of retail brokerage services. “

A number of other equities analysts also recently commented on UMPQ. BidaskClub raised shares of Umpqua from a sell rating to a hold rating in a report on Tuesday, May 7th. DA Davidson reaffirmed a buy rating on shares of Umpqua in a report on Thursday, April 18th. Finally, Stephens reaffirmed a hold rating and set a $21.00 price objective on shares of Umpqua in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $22.44.

NASDAQ:UMPQ opened at $16.59 on Friday. The stock’s 50-day simple moving average is $16.56. The company has a market cap of $3.62 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 1.18 and a beta of 1.09. Umpqua has a 52 week low of $15.09 and a 52 week high of $23.57. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.32.

Umpqua (NASDAQ:UMPQ) last released its quarterly earnings data on Wednesday, April 17th. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The business had revenue of $283.43 million for the quarter, compared to the consensus estimate of $301.29 million. Umpqua had a return on equity of 7.91% and a net margin of 23.20%. During the same period in the previous year, the business posted $0.35 earnings per share. As a group, equities research analysts predict that Umpqua will post 1.55 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Thursday, June 27th. Umpqua’s payout ratio is presently 57.53%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Bremer Trust National Association acquired a new stake in Umpqua in the 4th quarter valued at about $27,000. Financial Advocates Investment Management grew its position in shares of Umpqua by 45.1% during the 4th quarter. Financial Advocates Investment Management now owns 3,222 shares of the bank’s stock worth $43,000 after buying an additional 1,001 shares during the period. JOYN Advisors Inc. grew its position in shares of Umpqua by 60.9% during the 4th quarter. JOYN Advisors Inc. now owns 3,420 shares of the bank’s stock worth $54,000 after buying an additional 1,294 shares during the period. Toronto Dominion Bank grew its position in shares of Umpqua by 12,996.9% during the 4th quarter. Toronto Dominion Bank now owns 4,191 shares of the bank’s stock worth $67,000 after buying an additional 4,159 shares during the period. Finally, Pearl River Capital LLC grew its position in shares of Umpqua by 1,434.7% during the 1st quarter. Pearl River Capital LLC now owns 4,604 shares of the bank’s stock worth $76,000 after buying an additional 4,304 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

About Umpqua

Umpqua Holdings Corporation operates as the holding company of Umpqua Bank that provides commercial and retail banking, and retail brokerage services. It operates through four segments: Wholesale 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.

Recommended Story: What is Elliott Wave theory?

Get a free copy of the Zacks research report on Umpqua (UMPQ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.