Umpqua (UMPQ) Stock Downgraded at Raymond James
NEW YORK (TheStreet) -- Umpqua Holdings' (UMPQ) - Get Report stock rating was reduced to "outperform" from "strong buy" at Raymond James on Thursday.
The Portland-based company is the parent to Umpqua Bank.
The firm cited the lack of near-term catalysts to drive significant outperformance, the Fly reports.
But Raymond James continues to be bullish on shares long term given its $2 billion acquisition of Sterling Bank in 2013, MarketWatch noted.
The firm also downgraded Wells Fargo (WFC) and Bank of America (BAC) shares to "market perform" from "outperform."
Shares of Umpqua closed up 1.05% to $15.45 on heavy trading volume Thursday. About 2.69 million of the company's shares were traded today vs. its average 30-day volume of 1.83 million shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its increase in net income, good cash flow from operations, growth in earnings per share, expanding profit margins and notable return on equity.
The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: UMPQ