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Umpqua: 1Q Earnings Snapshot

PORTLAND, Ore. (AP) _ Umpqua Holdings Corp. (UMPQ) on Wednesday reported first-quarter profit of $74 million.

The bank, based in Portland, Oregon, said it had earnings of 34 cents per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.

The regional bank posted revenue of $328 million in the period. Its revenue net of interest expense was $283.4 million, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $301.3 million.

Umpqua shares have risen 12 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17.87, a fall of 18 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UMPQ at https://www.zacks.com/ap/UMPQ