Umpqua (NASDAQ:UMPQ) announced its earnings results on Wednesday. The bank reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12, RTT News reports. The business had revenue of $348.99 million for the quarter, compared to analysts’ expectations of $300.90 million. Umpqua had a net margin of 25.09% and a return on equity of 8.71%. During the same period in the previous year, the company posted $0.31 EPS.
Shares of UMPQ opened at $16.80 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 0.28. The firm has a market cap of $3.70 billion, a PE ratio of 11.51, a P/E/G ratio of 1.19 and a beta of 1.06. The firm has a fifty day moving average price of $16.57. Umpqua has a 1 year low of $15.09 and a 1 year high of $22.79.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.84 annualized dividend and a yield of 5.00%. Umpqua’s dividend payout ratio is currently 57.53%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in shares of Umpqua by 1.6% during the 4th quarter. Bank of New York Mellon Corp now owns 2,703,280 shares of the bank’s stock worth $42,981,000 after acquiring an additional 41,690 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of Umpqua by 6.5% during the 4th quarter. Advisor Group Inc. now owns 33,765 shares of the bank’s stock valued at $537,000 after buying an additional 2,047 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Umpqua by 0.9% during the 4th quarter. Northern Trust Corp now owns 3,046,997 shares of the bank’s stock valued at $48,447,000 after buying an additional 27,913 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of Umpqua by 4.8% during the 4th quarter. Great West Life Assurance Co. Can now owns 136,090 shares of the bank’s stock valued at $2,006,000 after buying an additional 6,204 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in shares of Umpqua by 13.6% during the 4th quarter. Commonwealth Bank of Australia now owns 20,900 shares of the bank’s stock valued at $332,000 after buying an additional 2,500 shares in the last quarter. 87.55% of the stock is currently owned by institutional investors.
UMPQ has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Friday. DA Davidson reaffirmed a “buy” rating on shares of Umpqua in a report on Thursday, April 18th. Stephens reaffirmed a “hold” rating and issued a $63.00 target price on shares of Pinnacle Financial Partners in a report on Thursday. Finally, BidaskClub raised shares of Xilinx from a “hold” rating to a “buy” rating in a report on Saturday, June 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Umpqua currently has a consensus rating of “Hold” and a consensus price target of $22.11.
Umpqua Company Profile
Umpqua Holdings Corporation operates as the holding company of Umpqua Bank that provides commercial and retail banking, and retail brokerage services. It operates through four segments: Wholesale 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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