4. Umpqua Holdings
Shares of Portland, Oregon-based Umpqua Holdings (UMPQ)have outperformed in 2011, declining by about 10%.
The bank reported third-quarter net income of $21.86 million or 19 cents per share compared to $17.7 million or 15 cents per share in the second quarter of 2011 and $8.2 million or 7 cents per share in the year-ago quarter.
Excluding one-off items, operating earnings rose 22% sequentially and 133% year-on-year to $22.12 million or 19 cents per share.Pre-provision net revenue gained 27% to $45.37 million. Non-covered loans and leases grew $93 million, on the strength of commercial & industrial lending. The provision for loan losses for the third quarter of 2011 was $9.1 million, a 41% decrease from the prior quarter, as the bank recorded its lowest net charge off rate since the first quarter of 2008. The stock trades at 14 times 2012 consensus estimates. "While we recognize the company has a very attractive franchise and are encouraged with some of the recent trends, we believe the shares are appropriately pricing in the fact that it could take some time to put this excess capital to work," RBC Capital analyst Joe Morford said in a report reviewing the results. He has a sector perform rating on the stock with a price target of $12. Four out of 10 analysts rate the stock a buy or outperform while 6 analysts have a hold rating on the stock.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV