Umpqua (UMPQ) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Umpqua (NASDAQ:UMPQ) from a hold rating to a sell rating in a report released on Thursday morning.

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 equities research analysts also recently issued research reports about the stock. ValuEngine raised shares of Umpqua from a hold rating to a buy rating in a report on Monday, September 18th. SunTrust Banks reissued a buy rating and issued a $24.00 price target on shares of Umpqua in a report on Wednesday, November 29th. Keefe, Bruyette & Woods reissued a hold rating and issued a $20.00 price target on shares of Umpqua in a report on Monday, October 16th. Barclays upped their price target 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, Wells Fargo & Co upped their price target 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. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $20.17.

Shares of Umpqua (NASDAQ:UMPQ) opened at $21.48 on Thursday. The firm has a market cap of $4,779.03, a PE ratio of 20.26, a P/E/G ratio of 2.47 and a beta of 1.13. Umpqua has a 1-year low of $16.65 and a 1-year high of $22.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.98 and a quick ratio of 0.96.

Umpqua (NASDAQ:UMPQ) last posted its quarterly earnings data on Wednesday, October 18th. The bank reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $295.87 million during 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 in the previous year, the company earned $0.28 EPS. analysts forecast that Umpqua will post 1.03 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, December 28th. Umpqua’s dividend payout ratio is presently 67.93%.

In other Umpqua news, insider Raymond P. Davis sold 36,829 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $20.60, for a total transaction of $758,677.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of UMPQ. Citadel Advisors LLC lifted its stake in Umpqua by 591.2% during the second quarter. Citadel Advisors LLC now owns 2,650,601 shares of the bank’s stock valued at $48,665,000 after buying an additional 2,267,129 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Umpqua in the 2nd quarter valued at about $38,607,000. Balyasny Asset Management LLC increased its holdings in shares of Umpqua by 1,072.4% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,904,913 shares of the bank’s stock valued at $34,974,000 after purchasing an additional 1,742,435 shares during the period. Atlanta Capital Management Co. L L C increased its holdings in shares of Umpqua by 12.8% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 10,745,502 shares of the bank’s stock valued at $197,288,000 after purchasing an additional 1,219,722 shares during the period. Finally, Capital World Investors increased its holdings in shares of Umpqua by 6.6% in the 2nd quarter. Capital World Investors now owns 15,273,300 shares of the bank’s stock valued at $280,418,000 after purchasing an additional 944,594 shares during the period. 88.15% of the stock is owned by institutional investors.

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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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