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Umpqua: 3Q Earnings Snapshot

PORTLAND, Ore. (AP) _ Umpqua Holdings Corp. (UMPQ) on Wednesday reported third-quarter net income of $91 million.

The bank, based in Portland, Oregon, said it had earnings of 41 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The regional bank posted revenue of $348.6 million in the period. Its revenue net of interest expense was $313.8 million, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $309.4 million.

Umpqua shares have dropped slightly more than 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.67, dropping slightly 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