DA Davidson Weighs in on Umpqua Holdings Co.’s FY2021 Earnings (NASDAQ:UMPQ)

Posted by Sarita Garza on Jan 14th, 2021 // Comments off

Umpqua Holdings Co. (NASDAQ:UMPQ) – Investment analysts at DA Davidson increased their FY2021 earnings per share (EPS) estimates for shares of Umpqua in a note issued to investors on Monday, January 11th. DA Davidson analyst J. Rulis now expects that the bank will earn $1.45 per share for the year, up from their prior forecast of $1.30.

Umpqua (NASDAQ:UMPQ) last released its quarterly earnings data on Wednesday, October 21st. The bank reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.23. The firm had revenue of $348.98 million during the quarter, compared to the consensus estimate of $321.70 million. Umpqua had a return on equity of 5.65% and a net margin of 13.68%.

Several other equities analysts have also issued reports on the company. Stephens assumed coverage on Umpqua in a research note on Tuesday, October 27th. They issued an “overweight” rating and a $16.00 target price on the stock. Wells Fargo & Company upgraded Umpqua from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $12.00 to $14.00 in a research note on Thursday, October 8th. BidaskClub upgraded Umpqua from a “hold” rating to a “buy” rating in a research note on Friday, October 23rd. Piper Sandler lifted their target price on Umpqua from $13.50 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, December 9th. Finally, Wedbush lifted their target price on Umpqua from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.44.

UMPQ opened at $16.74 on Wednesday. The business’s 50-day moving average is $15.12 and its two-hundred day moving average is $12.59. Umpqua has a 1 year low of $8.88 and a 1 year high of $18.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.98. The firm has a market capitalization of $3.69 billion, a PE ratio of 19.24 and a beta of 1.24.

Several hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in Umpqua by 115.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,783,779 shares of the bank’s stock valued at $82,663,000 after buying an additional 4,171,874 shares during the last quarter. FMR LLC boosted its position in Umpqua by 1,322.7% in the first quarter. FMR LLC now owns 1,618,499 shares of the bank’s stock valued at $26,705,000 after buying an additional 1,504,734 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in Umpqua by 62.7% in the third quarter. Segall Bryant & Hamill LLC now owns 2,026,681 shares of the bank’s stock valued at $21,525,000 after buying an additional 781,033 shares during the last quarter. Pzena Investment Management LLC boosted its position in Umpqua by 35.6% in the third quarter. Pzena Investment Management LLC now owns 2,609,923 shares of the bank’s stock valued at $27,717,000 after buying an additional 684,540 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Umpqua by 26.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,198,273 shares of the bank’s stock valued at $34,030,000 after buying an additional 673,227 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

About Umpqua

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.

DA Davidson Weighs in on Umpqua Holdings Co.’s FY2021 Earnings (NASDAQ:UMPQ)

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