Zacks Investment Research Lowers Umpqua (NASDAQ:UMPQ) to Sell

Umpqua (NASDAQ:UMPQ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, December 21st.

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. “

UMPQ has been the topic of several other research reports. Piper Jaffray Companies reissued a “sell” rating and set a $16.50 price target on shares of Umpqua in a research report on Wednesday, October 4th. Wells Fargo & Co boosted their price objective on shares of Umpqua from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Friday, October 20th. Keefe, Bruyette & Woods upgraded shares of Umpqua from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 8th. Barclays boosted their price objective on shares of Umpqua from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, October 20th. Finally, SunTrust Banks restated a “buy” rating and issued a $24.00 price objective on shares of Umpqua in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $21.39.

Shares of Umpqua (NASDAQ:UMPQ) traded up $0.27 on Thursday, reaching $22.40. 1,134,644 shares of the company’s stock traded hands, compared to its average volume of 1,615,633. Umpqua has a 52 week low of $16.65 and a 52 week high of $22.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.96 and a current ratio of 0.98. The firm has a market cap of $4,910.00, a PE ratio of 21.13, a PEG ratio of 2.00 and a beta of 1.14.

Umpqua (NASDAQ:UMPQ) last announced its earnings results on Wednesday, October 18th. The bank reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The business had revenue of $295.87 million for the quarter, compared to analyst estimates of $297.51 million. Umpqua had a return on equity of 5.79% and a net margin of 19.04%. During the same period last year, the firm earned $0.28 EPS. sell-side analysts predict that Umpqua will post 1.03 EPS for the current year.

In other news, insider Raymond P. Davis sold 36,829 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $20.60, for a total transaction of $758,677.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.52% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC acquired a new position in Umpqua in the second quarter valued at approximately $203,000. Brookstone Capital Management acquired a new position in Umpqua in the second quarter valued at approximately $285,000. FMR LLC boosted its holdings in Umpqua by 23.8% in the second quarter. FMR LLC now owns 684,900 shares of the bank’s stock valued at $12,575,000 after purchasing an additional 131,600 shares in the last quarter. Legal & General Group Plc boosted its holdings in Umpqua by 14.3% in the second quarter. Legal & General Group Plc now owns 251,143 shares of the bank’s stock valued at $4,614,000 after purchasing an additional 31,336 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Umpqua by 5.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,657,540 shares of the bank’s stock valued at $32,339,000 after purchasing an additional 91,242 shares in the last quarter. 88.15% of the stock is owned by institutional investors and hedge funds.

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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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