Umpqua (NASDAQ:UMPQ) Issues Quarterly Earnings Results

Posted by admin on Jan 25th, 2023

Umpqua (NASDAQ:UMPQ – Get Rating) posted its quarterly earnings data on Monday. The bank reported $0.46 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.08), Briefing.com reports. The firm had revenue of $387.13 million during the quarter, compared to analysts’ expectations of $350.20 million. Umpqua had a net margin of 24.99% and a return on equity of 14.91%. During the same quarter last year, the business posted $0.41 EPS.

Umpqua Stock Up 2.7 %

UMPQ opened at $17.30 on Wednesday. The company has a 50 day moving average of $18.27 and a 200 day moving average of $18.20. The company has a market cap of $3.75 billion, a PE ratio of 10.95 and a beta of 0.97. Umpqua has a 12 month low of $15.77 and a 12 month high of $22.06. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48.

Umpqua Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 6th. Investors of record on Monday, January 23rd will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend is Friday, January 20th. Umpqua’s dividend payout ratio (DPR) is presently 53.16%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company upgraded shares of Umpqua from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $20.00 to $22.00 in a research note on Thursday, December 15th. StockNews.com initiated coverage on shares of Umpqua in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.00.

Insider Buying and Selling

In other Umpqua news, insider Torran B. Nixon sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $19.97, for a total value of $99,850.00. Following the completion of the transaction, the insider now directly owns 206,033 shares of the company’s stock, valued at approximately $4,114,479.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Umpqua during the 3rd quarter worth $579,000. California State Teachers Retirement System increased its position in shares of Umpqua by 40.9% in the third quarter. California State Teachers Retirement System now owns 391,397 shares of the bank’s stock valued at $6,689,000 after acquiring an additional 113,539 shares during the period. Captrust Financial Advisors increased its position in shares of Umpqua by 46.6% in the third quarter. Captrust Financial Advisors now owns 85,002 shares of the bank’s stock valued at $1,453,000 after acquiring an additional 27,032 shares during the period. Baird Financial Group Inc. increased its position in shares of Umpqua by 5.6% in the third quarter. Baird Financial Group Inc. now owns 18,864 shares of the bank’s stock valued at $322,000 after acquiring an additional 1,000 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Umpqua in the third quarter valued at about $1,031,000. 90.34% of the stock is owned by institutional investors.

Umpqua Company Profile

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Umpqua Holdings Corp. operates as a bank holding company, which provides banking and financial services. The firm operates through the following 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.