Umpqua Holdings Corporation (NASDAQ:UMPQ) – SunTrust Banks increased their FY2017 earnings per share (EPS) estimates for Umpqua in a research report issued on Monday, according to Zacks Investment Research. SunTrust Banks analyst M. Young now anticipates that the bank will post earnings of $1.04 per share for the year, up from their previous forecast of $1.03. SunTrust Banks has a “Buy” rating and a $24.00 price objective on the stock. SunTrust Banks also issued estimates for Umpqua’s Q1 2018 earnings at $0.32 EPS and Q2 2018 earnings at $0.36 EPS.
UMPQ has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised shares of Umpqua from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 8th. Zacks Investment Research raised shares of Umpqua from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a report on Friday. ValuEngine raised shares of Umpqua from a “hold” rating to a “buy” rating in a report on Monday, September 18th. Barclays increased their price target on shares of Umpqua from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Finally, BidaskClub downgraded shares of Umpqua from a “strong-buy” rating to a “buy” rating in a report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $21.39.
Umpqua (NASDAQ:UMPQ) last issued its quarterly earnings data on Wednesday, October 18th. The bank reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). The firm had revenue of $295.87 million for the quarter, compared to analysts’ expectations of $297.51 million. Umpqua had a net margin of 19.04% and a return on equity of 5.79%. During the same quarter in the previous year, the business earned $0.28 EPS.
The company also recently disclosed a dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a $0.18 dividend. The ex-dividend date is Thursday, December 28th. Umpqua’s payout ratio is currently 67.93%.
In other Umpqua news, insider Raymond P. Davis sold 36,829 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $20.60, for a total value of $758,677.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Zions Bancorporation bought a new stake in Umpqua in the third quarter worth about $121,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Umpqua by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,838 shares of the bank’s stock worth $144,000 after purchasing an additional 632 shares during the last quarter. HighTower Advisors LLC bought a new stake in Umpqua in the second quarter worth about $203,000. Raymond James Trust N.A. bought a new stake in Umpqua in the second quarter worth about $206,000. Finally, Merriman Wealth Management LLC bought a new stake in Umpqua in the third quarter worth about $220,000. 88.15% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This report was posted by BBNS and is owned by of BBNS. If you are reading this report on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this report can be viewed at https://baseballnewssource.com/markets/umpqua-holdings-corporation-to-post-fy2017-earnings-of-1-04-per-share-suntrust-banks-forecasts-umpq/1819771.html.
Umpqua Holdings Corporation is a bank holding company. The Company’s principal operating subsidiaries include Umpqua Bank (the Bank) and Umpqua Investments, Inc (Umpqua Investments). It operates through two segments: Community Banking and Home Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and retail customers in its primary market areas.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Umpqua Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Umpqua and related companies with MarketBeat.com's FREE daily email newsletter.