UMB Financial Corporation (UMBF) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of UMB Financial Corporation (NASDAQ:UMBF) from a buy rating to a hold rating in a research report released on Friday.
According to Zacks, “UMB Financial Corporation is a financial services holding company engaged in providing complete banking, asset management, health spending solutions and related financial services to commercial, institutional and personal customers nationwide. Subsidiaries of the holding company and the lead bank, UMB Bank include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company’s proprietary mutual funds and investment advisory accounts for institutional customers. The Company has banking centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. UMB Financial Corporation is headquartered in Kansas. “
Several other equities analysts also recently commented on UMBF. BidaskClub upgraded UMB Financial Corporation from a sell rating to a hold rating in a research report on Friday, June 30th. Stephens set a $71.00 target price on UMB Financial Corporation and gave the stock a hold rating in a research report on Wednesday, July 26th. UBS AG upgraded UMB Financial Corporation from a market perform rating to an outperform rating in a research report on Thursday, August 10th. Raymond James Financial, Inc. upgraded UMB Financial Corporation from a market perform rating to an outperform rating in a research report on Thursday, August 10th. Finally, Piper Jaffray Companies set a $74.00 target price on UMB Financial Corporation and gave the stock a hold rating in a research report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. UMB Financial Corporation currently has an average rating of Hold and a consensus price target of $77.20.
Shares of UMB Financial Corporation (UMBF) traded up 0.25% on Friday, reaching $75.54. The company had a trading volume of 116,784 shares. The company’s 50-day moving average is $71.28 and its 200 day moving average is $71.91. UMB Financial Corporation has a 12 month low of $59.81 and a 12 month high of $81.55. The firm has a market capitalization of $3.78 billion, a PE ratio of 21.83 and a beta of 0.89.
UMB Financial Corporation (NASDAQ:UMBF) last posted its earnings results on Tuesday, July 25th. The bank reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.02). The company had revenue of $247.70 million for the quarter, compared to the consensus estimate of $261.84 million. UMB Financial Corporation had a return on equity of 8.81% and a net margin of 16.59%. UMB Financial Corporation’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.76 EPS. Equities analysts forecast that UMB Financial Corporation will post $3.60 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were given a $0.255 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.02 annualized dividend and a yield of 1.35%. UMB Financial Corporation’s payout ratio is 29.39%.
In other UMB Financial Corporation news, Director Timothy R. Murphy acquired 1,500 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was purchased at an average price of $67.50 per share, for a total transaction of $101,250.00. Following the transaction, the director now owns 4,049 shares in the company, valued at approximately $273,307.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 10.09% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of UMBF. BlackRock Inc. raised its position in UMB Financial Corporation by 17,367.3% in the 1st quarter. BlackRock Inc. now owns 4,683,344 shares of the bank’s stock valued at $352,703,000 after purchasing an additional 4,656,532 shares during the last quarter. State Street Corp raised its position in UMB Financial Corporation by 24.2% in the 1st quarter. State Street Corp now owns 2,250,512 shares of the bank’s stock valued at $169,490,000 after purchasing an additional 438,798 shares during the last quarter. Vanguard Group Inc. raised its position in UMB Financial Corporation by 11.8% in the 1st quarter. Vanguard Group Inc. now owns 4,094,745 shares of the bank’s stock valued at $308,375,000 after purchasing an additional 432,314 shares during the last quarter. Cramer Rosenthal Mcglynn LLC raised its position in UMB Financial Corporation by 48.2% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 739,900 shares of the bank’s stock valued at $55,389,000 after purchasing an additional 240,575 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its position in UMB Financial Corporation by 33.6% in the 2nd quarter. Eagle Asset Management Inc. now owns 789,143 shares of the bank’s stock valued at $59,075,000 after purchasing an additional 198,343 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.
UMB Financial Corporation Company Profile
UMB Financial Corporation is a diversified financial holding company. The Company supplies banking services, institutional investment management, asset servicing and payment solutions to its customers in the United States and around the globe. The Company’s segments include Bank, which provides a range of banking services to commercial, retail, government and correspondent bank customers through the Company’s branches, call center, Internet banking and automated teller machine network; Institutional Investment Management, which provides equity and fixed income investment strategies in the intermediary and institutional markets, and Asset Servicing, which provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts.
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