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Umpqua misses Street 1Q forecasts

PORTLAND, Ore. (AP) _ Umpqua Holdings Corp. (UMPQ) on Wednesday reported first-quarter profit of $46 million.

The bank, based in Portland, Oregon, said it had earnings of 21 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The regional bank posted revenue of $284.3 million in the period. Its adjusted revenue was $267 million, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $279.3 million.

Umpqua shares have fallen slightly more than 8 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17.21, a rise of 3 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


Keywords: Umpqua Holdings, Earnings Report