I recommended Umpqua (UMPQ) at $17.50 per share on February 9, 2020. I’ve been a long-time investor in this bank. I like its position as the largest independent bank in the Pacific Northwest with its $28.8 billion in assets, clean balance sheet, conservative management, and focus on real estate lending and customer service. I also liked its valuation even as it fought a margin squeeze and worked through an expense reduction program.
Then came the coronavirus…
Source: Cnn.com
Today, March 13, 2020, I’m down 38.99% on an intraday basis compared to 2.3% on February