DA Davidson Downgrades Umpqua Holdings (UMPQ) to Neutral; Valuation Call

DA Davidson downgraded Umpqua Holdings (NASDAQ: UMPQ) to Neutral, price target raised $1 to $15.00.

Analyst, Jeff Rulis, said, "Since early October 2011, Umpqua’s shares have climbed approximately 60%. Year-to-date, UMPQ is up roughly 10%. The shares are now trading at approximately 1.32x and 13.0x our 2013 TBV and EPS estimates, respectively. The stock’s improved valuation appears to have been helped by respectable 4% organic loan growth in 2011 and NPAs falling to nearly 1% of total assets – one of the best ratios in our coverage universe."

For an analyst ratings summary and ratings history on Umpqua Holdings click here. For more ratings news on Umpqua Holdings click here.

Shares of Umpqua Holdings closed at $13.31 yesterday.

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