Wall Street brokerages predict that Umpqua Holdings Co. (NASDAQ:UMPQ – Get Rating) will announce sales of $307.43 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Umpqua’s earnings, with estimates ranging from $306.00 million to $308.30 million. Umpqua posted sales of $320.84 million in the same quarter last year, which indicates a negative year over year growth rate of 4.2%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Umpqua will report full-year sales of $1.57 billion for the current financial year, with estimates ranging from $1.57 billion to $1.58 billion. For the next fiscal year, analysts expect that the company will report sales of $2.04 billion, with estimates ranging from $1.99 billion to $2.09 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Umpqua.
Umpqua (NASDAQ:UMPQ – Get Rating) last issued its quarterly earnings results on Wednesday, April 20th. The bank reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Umpqua had a return on equity of 15.40% and a net margin of 31.88%. The company had revenue of $308.73 million during the quarter, compared to analyst estimates of $296.38 million. During the same period in the previous year, the company earned $0.49 earnings per share. The company’s quarterly revenue was down 6.5% compared to the same quarter last year.
A number of research analysts recently commented on UMPQ shares. StockNews.com started coverage on Umpqua in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Wells Fargo & Company cut Umpqua from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $24.00 to $20.00 in a research report on Tuesday, January 4th. Keefe, Bruyette & Woods began coverage on Umpqua in a research report on Friday, February 11th. They issued a “market perform” rating on the stock. Finally, Zacks Investment Research cut Umpqua from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 31st. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.90.
In related news, CEO Cort L. O’haver sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $20.21, for a total transaction of $101,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ron L. Farnsworth sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $20.49, for a total transaction of $143,430.00. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in UMPQ. Versor Investments LP boosted its holdings in shares of Umpqua by 37,273.5% in the fourth quarter. Versor Investments LP now owns 4,073,711 shares of the bank’s stock valued at $78,378,000 after buying an additional 4,062,811 shares during the period. Norges Bank bought a new stake in shares of Umpqua in the fourth quarter worth $49,879,000. FMR LLC lifted its position in shares of Umpqua by 1,322.7% in the first quarter. FMR LLC now owns 1,618,499 shares of the bank’s stock worth $26,705,000 after purchasing an additional 1,504,734 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Umpqua by 368.9% in the third quarter. The Manufacturers Life Insurance Company now owns 1,650,109 shares of the bank’s stock worth $33,415,000 after purchasing an additional 1,298,211 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Umpqua by 11.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,711,154 shares of the bank’s stock worth $206,082,000 after purchasing an additional 1,126,660 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.
Shares of NASDAQ UMPQ opened at $18.44 on Friday. The business has a fifty day simple moving average of $19.65 and a 200 day simple moving average of $20.06. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 9.60 and a beta of 1.00. Umpqua has a one year low of $17.04 and a one year high of $22.06.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 25th. Stockholders of record on Tuesday, February 15th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend was Monday, February 14th. Umpqua’s payout ratio is presently 43.75%.
Umpqua Company Profile (Get Rating)
Umpqua Holdings Corporation operates as the holding company of Umpqua Bank that provides commercial and retail banking services. It operates in two segments: Core Banking and Mortgage Banking. 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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