Umpqua: 3Q Earnings Snapshot
PORTLAND, Ore. (AP) _ Umpqua Holdings Corp. (UMPQ) on Wednesday reported third-quarter profit of $124.9 million.
The bank, based in Portland, Oregon, said it had earnings of 57 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The regional bank posted revenue of $374.2 million in the period. Its revenue net of interest expense was $349 million, also surpassing Street forecasts.
Umpqua shares have dropped 28% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.80, a decline of 21% in the last 12 months.