UPDATE: D.A. Davidson Upgrades Umpqua Holdings Following Announcement of Sterling Acquisition

In a report published Friday, D.A. Davidson analyst Jeff Rulis upgraded the rating on Umpqua Holdings Corp. (NASDAQ: UMPQ ) from Neutral to Buy, and raised the price target from $17.00 to $20.00. In the report, D.A. Davidson noted, “Sterling shareholders will receive 1.671 shares of Umpqua common stock in