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UMPQ - Umpqua Holdings: No Dividend Cut In Sight; 40% Share Price Upside
Umpqua Holdings Corporation
Besides having one of the most unique names in community banking, Portland, Oregon based Umpqua Holdings Corporation (UMPQ) reported operating results that were rather lackluster for both the first and second quarters this year. After throwing into the mix a global pandemic and an incredibly volatile economic backdrop, UMPQ's 1H20 results actually look quite good relative to bank peers.
At the beginning of the year, UMPQ generated a net loss of $8.41 per share, largely having to do with the goodwill impairment write-down. First quarter results were followed up with a solid $0.24