Market Overview

UPDATE: RBC Capital Markets Downgrades Umpqua on Limited Near-Term Upside

Related UMPQ
Keefe, Bruyette & Woods: Umpqua A 'Holiday Opportunity,' Valuation Compelling
UPDATE: Barclays Upgrades Umpqua

In a report published Tuesday, RBC Capital Markets analyst Joe Morford downgraded the rating on Umpqua (NASDAQ: UMPQ) from Outperform to Sector Perform, and lowered the price target from $22.00 to $20.00.

In the report, RBC Capital Markets noted, “We are lowering our rating on Umpqua's shares to Sector Perform from Outperform based on a weaker outlook for core earnings including upcoming 1Q14 results. While we remain positive on next month's Sterling acquisition, the synergies will not impact earnings much until later this year. Therefore, we see less upside potential near-term relative to some of the other western bank stocks and are lowering our price target from $22 to $20.”

Umpqua closed on Monday at $18.73.

Latest Ratings for UMPQ

DateFirmActionFromTo
Oct 2014Keefe Bruyette & WoodsMaintainsMarket Perform
Sep 2014Sandler O'NeillInitiates Coverage onBuy
Jul 2014BarclaysUpgradesUnderweightEqual-weight

View More Analyst Ratings for UMPQ
View the Latest Analyst Ratings

Posted-In: Joe Morford RBC Capital MarketsAnalyst Color Downgrades Analyst Ratings

 

Related Articles (UMPQ)

Around the Web, We're Loving...

Get Benzinga's Newsletters