Wall Street analysts predict that Umpqua Holdings Co. (NASDAQ:UMPQ) will announce sales of $311.15 million for the current quarter, according to Zacks. Two analysts have made estimates for Umpqua's earnings, with the highest sales estimate coming in at $311.30 million and the lowest estimate coming in at $311.00 million. Umpqua posted sales of $348.98 million in the same quarter last year, which suggests a negative year over year growth rate of 10.8%. The company is expected to issue its next earnings results on Wednesday, October 20th.
On average, analysts expect that Umpqua will report full-year sales of $1.27 billion for the current financial year. For the next fiscal year, analysts forecast that the business will report sales of $1.23 billion, with estimates ranging from $1.22 billion to $1.23 billion. Zacks' sales averages are an average based on a survey of analysts that that provide coverage for Umpqua.
Umpqua (NASDAQ:UMPQ) last posted its quarterly earnings results on Tuesday, July 20th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.09. The company had revenue of $320.84 million for the quarter, compared to analyst estimates of $311.70 million. Umpqua had a net margin of 34.90% and a return on equity of 18.56%. During the same period last year, the business posted $0.24 EPS.
UMPQ has been the topic of several research analyst reports. Stephens restated an "overweight" rating and issued a $18.64 price target (down from $21.50) on shares of Umpqua in a research report on Tuesday, July 27th. Zacks Investment Research upgraded shares of Umpqua from a "hold" rating to a "strong-buy" rating and set a $22.00 price target on the stock in a research report on Friday, July 30th. Finally, JPMorgan Chase & Co. raised shares of Umpqua from an "underweight" rating to a "neutral" rating and set a $22.50 price objective for the company in a report on Monday, July 26th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Umpqua has an average rating of "Buy" and a consensus price target of $17.52.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Umpqua by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 23,090,203 shares of the bank's stock valued at $426,014,000 after purchasing an additional 753,071 shares during the last quarter. BlackRock Inc. lifted its holdings in Umpqua by 7.4% during the 1st quarter. BlackRock Inc. now owns 20,067,436 shares of the bank's stock valued at $352,183,000 after purchasing an additional 1,390,428 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Umpqua by 24.7% during the 2nd quarter. Macquarie Group Ltd. now owns 13,256,198 shares of the bank's stock valued at $244,576,000 after purchasing an additional 2,627,577 shares during the last quarter. State Street Corp lifted its holdings in Umpqua by 9.9% during the 2nd quarter. State Street Corp now owns 11,456,120 shares of the bank's stock valued at $211,365,000 after purchasing an additional 1,032,331 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Umpqua by 7.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,445,805 shares of the bank's stock valued at $174,274,000 after purchasing an additional 669,646 shares during the last quarter. 87.79% of the stock is owned by hedge funds and other institutional investors.
NASDAQ UMPQ opened at $19.28 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.95 and a quick ratio of 0.94. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 8.49 and a beta of 1.24. The company's fifty day moving average is $19.07 and its two-hundred day moving average is $18.67. Umpqua has a 52-week low of $10.03 and a 52-week high of $20.44.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 31st. Stockholders of record on Friday, August 20th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Thursday, August 19th. Umpqua's payout ratio is -100.00%.
Umpqua Company Profile
Umpqua Holdings Corp. operates as a bank holding company, which provides banking and financial services. The firm operates through followings segments: Wholesale Bank, Wealth Management, Retail Bank and Home Lending. The Wholesale Bank segment includes lending, treasury and cash management services and customer risk management products to middle market corporate, commercial and business banking customers and the operations of FinPac.
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