Umpqua (UMPQ) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Umpqua (NASDAQ:UMPQ) from a hold rating to a buy rating in a research report released on Thursday. They currently have $21.00 target price on the bank’s stock.

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 also recently issued reports about the company. ValuEngine downgraded Umpqua from a buy rating to a hold rating in a report on Tuesday, July 31st. BidaskClub downgraded Umpqua from a hold rating to a sell rating in a report on Wednesday, August 1st. Piper Jaffray Companies set a $20.00 target price on shares of Umpqua and gave the stock a sell rating in a report on Thursday, August 2nd. Finally, Wells Fargo & Co set a $22.00 target price on shares of Umpqua and gave the stock a hold rating in a report on Tuesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Umpqua currently has a consensus rating of Hold and an average price target of $23.85.

UMPQ stock opened at $19.21 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $4.25 billion, a P/E ratio of 17.95, a PEG ratio of 1.47 and a beta of 1.00. Umpqua has a 1-year low of $18.17 and a 1-year high of $24.89.

Umpqua (NASDAQ:UMPQ) last released its quarterly earnings data on Wednesday, October 17th. The bank reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.05. The firm had revenue of $313.76 million during the quarter, compared to the consensus estimate of $309.37 million. Umpqua had a return on equity of 7.74% and a net margin of 24.23%. During the same period in the previous year, the company posted $0.28 earnings per share. On average, sell-side analysts anticipate that Umpqua will post 1.46 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in UMPQ. TRUE Private Wealth Advisors bought a new position in Umpqua in the third quarter worth about $103,000. Itau Unibanco Holding S.A. bought a new position in Umpqua in the second quarter worth about $143,000. Cerebellum GP LLC bought a new position in Umpqua in the third quarter worth about $173,000. ARP Americas LP bought a new position in Umpqua in the second quarter worth about $203,000. Finally, Summit X LLC bought a new position in Umpqua in the second quarter worth about $211,000. Institutional investors and hedge funds 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.

Further Reading: Growth Stocks

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Analyst Recommendations for Umpqua (NASDAQ:UMPQ)

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