Umpqua: 4Q Earnings Snapshot
PORTLAND, Ore. (AP) _ Umpqua Holdings Corp. (UMPQ) on Wednesday reported fourth-quarter earnings of $80.3 million.
The Portland, Oregon-based bank said it had earnings of 36 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The regional bank posted revenue of $343.6 million in the period. Its revenue net of interest expense was $304.2 million, which also fell short of Street forecasts. Six analysts surveyed by Zacks expected $306.4 million.
For the year, the company reported profit of $316.2 million, or $1.43 per share. Revenue was nearly unchanged at $1.22 billion.
Umpqua shares have increased 14 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.18, a fall of 18 percent in the last 12 months.