Analysts Set Expectations for UMB Financial Corp’s Q3 2018 Earnings (UMBF)
UMB Financial Corp (NASDAQ:UMBF) – Analysts at Piper Jaffray Companies increased their Q3 2018 EPS estimates for shares of UMB Financial in a report released on Thursday, September 20th. Piper Jaffray Companies analyst N. Race now expects that the bank will post earnings of $1.09 per share for the quarter, up from their prior estimate of $1.08. Piper Jaffray Companies also issued estimates for UMB Financial’s FY2019 earnings at $4.52 EPS.
A number of other research firms have also recently issued reports on UMBF. Zacks Investment Research upgraded UMB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. ValuEngine cut UMB Financial from a “hold” rating to a “sell” rating in a report on Monday. Finally, BidaskClub upgraded UMB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, September 5th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $81.50.
UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, July 24th. The bank reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $250.52 million for the quarter, compared to the consensus estimate of $264.19 million. UMB Financial had a return on equity of 9.94% and a net margin of 25.18%. During the same quarter in the previous year, the company posted $0.90 earnings per share.
Several large investors have recently modified their holdings of the company. Federated Investors Inc. PA raised its position in UMB Financial by 231.0% in the 2nd quarter. Federated Investors Inc. PA now owns 271,841 shares of the bank’s stock valued at $20,723,000 after buying an additional 189,707 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in UMB Financial by 5.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 276,585 shares of the bank’s stock valued at $20,022,000 after buying an additional 13,514 shares during the last quarter. Bank of New York Mellon Corp raised its position in UMB Financial by 10.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 930,028 shares of the bank’s stock valued at $70,896,000 after buying an additional 88,848 shares during the last quarter. Glen Harbor Capital Management LLC raised its position in UMB Financial by 16.1% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 7,616 shares of the bank’s stock valued at $581,000 after buying an additional 1,054 shares during the last quarter. Finally, Chicago Equity Partners LLC raised its position in UMB Financial by 2.8% in the 2nd quarter. Chicago Equity Partners LLC now owns 112,555 shares of the bank’s stock valued at $8,580,000 after buying an additional 3,065 shares during the last quarter. 89.36% of the stock is currently owned by institutional investors.
In other news, insider Kevin M. Macke sold 1,039 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $75.52, for a total transaction of $78,465.28. Following the transaction, the insider now directly owns 6,705 shares of the company’s stock, valued at $506,361.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy R. Murphy bought 1,000 shares of the stock in a transaction dated Friday, September 14th. The shares were purchased at an average cost of $74.54 per share, for a total transaction of $74,540.00. Following the completion of the transaction, the director now directly owns 8,635 shares of the company’s stock, valued at $643,652.90. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 1,323 shares of company stock worth $98,048 and have sold 28,595 shares worth $2,159,731. 10.26% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Monday, September 10th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, September 7th. UMB Financial’s payout ratio is 30.93%.
About UMB Financial
UMB Financial Corporation, a bank holding company, provides various banking and other financial services. It operates through two segments, Bank and Asset Servicing. The Bank segment offers a range of banking services to commercial, retail, government, and correspondent bank customers through its branches, call center, Internet banking, and ATM network.
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