Umpqua (NASDAQ:UMPQ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, 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. “
Other analysts have also issued reports about the stock. Wells Fargo & Company lowered shares of Umpqua from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $24.00 to $20.00 in a research report on Tuesday, January 4th. Stephens downgraded shares of Umpqua from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $23.00 to $19.00 in a report on Wednesday, October 13th. Finally, Truist Financial downgraded shares of Umpqua to a “hold” rating and set a $21.00 price objective for the company. in a report on Wednesday, October 13th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.90.
NASDAQ UMPQ opened at $20.62 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 9.42 and a beta of 1.13. The stock has a fifty day moving average of $19.80. Umpqua has a 52-week low of $14.49 and a 52-week high of $22.03.
Umpqua (NASDAQ:UMPQ) last posted its quarterly earnings results on Wednesday, January 19th. The bank reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). The company had revenue of $316.12 million during the quarter, compared to analyst estimates of $307.57 million. Umpqua had a return on equity of 17.75% and a net margin of 35.13%. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. Sell-side analysts forecast that Umpqua will post 1.95 earnings per share for the current year.
In related news, insider Torran B. Nixon sold 5,000 shares of Umpqua stock in a transaction dated Tuesday, November 2nd. The shares were sold at an average price of $21.01, for a total transaction of $105,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.58% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP increased its position in Umpqua by 66.1% in the 3rd quarter. Allworth Financial LP now owns 2,030 shares of the bank’s stock valued at $41,000 after acquiring an additional 808 shares in the last quarter. FMR LLC increased its position in Umpqua by 117.0% in the 2nd quarter. FMR LLC now owns 2,871 shares of the bank’s stock valued at $53,000 after acquiring an additional 1,548 shares in the last quarter. Signaturefd LLC increased its position in Umpqua by 109.6% in the 3rd quarter. Signaturefd LLC now owns 3,628 shares of the bank’s stock valued at $73,000 after acquiring an additional 1,897 shares in the last quarter. Parallel Advisors LLC increased its position in Umpqua by 42.9% in the 3rd quarter. Parallel Advisors LLC now owns 3,856 shares of the bank’s stock valued at $78,000 after acquiring an additional 1,157 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its position in Umpqua by 16.5% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,454 shares of the bank’s stock valued at $86,000 after acquiring an additional 631 shares in the last quarter. 93.05% of the stock is owned by hedge funds and other 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.