Zacks Investment Research Upgrades Umpqua (UMPQ) to Buy

Umpqua (NASDAQ:UMPQ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $22.00 price objective on the bank’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 14.35% from the stock’s previous close.

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. “

Several other equities research analysts also recently commented on the company. Piper Jaffray Companies raised Umpqua from an “underweight” rating to a “neutral” rating and set a $20.00 target price on the stock in a report on Wednesday, November 21st. BidaskClub raised Umpqua from a “sell” rating to a “hold” rating in a report on Monday, November 19th. Raymond James dropped their target price on Umpqua from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. Wells Fargo & Co set a $22.00 target price on Umpqua and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Finally, ValuEngine cut Umpqua from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Umpqua currently has a consensus rating of “Hold” and a consensus price target of $23.92.

Umpqua stock opened at $19.24 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.98 and a current ratio of 0.99. Umpqua has a 12 month low of $18.17 and a 12 month high of $24.89. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 1.45 and a beta of 1.00.

Umpqua (NASDAQ:UMPQ) last released its earnings results on Wednesday, October 17th. The bank reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.05. Umpqua had a return on equity of 7.74% and a net margin of 24.23%. The business had revenue of $313.76 million for the quarter, compared to the consensus estimate of $309.37 million. During the same period in the previous year, the company posted $0.28 earnings per share. On average, research analysts predict that Umpqua will post 1.47 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Handelsbanken Fonder AB purchased a new position in shares of Umpqua in the third quarter worth $21,424,000. Access Financial Services Inc. purchased a new position in shares of Umpqua in the third quarter worth $664,000. First Allied Advisory Services Inc. purchased a new position in shares of Umpqua in the second quarter worth $222,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Umpqua in the second quarter worth $10,212,000. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Umpqua by 90.2% in the second quarter. Public Employees Retirement System of Ohio now owns 258,560 shares of the bank’s stock worth $5,841,000 after purchasing an additional 122,605 shares during the last quarter. Hedge funds and other institutional investors own 89.61% of the company’s stock.

Umpqua Company Profile

Umpqua Holdings Corporation, through its subsidiaries, provides commercial and retail banking, and retail brokerage services. It operates through four segments: Commercial 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.

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