UMB Financial Corporation (UMBF) Expected to Post Quarterly Sales of $255.01 Million
Equities research analysts predict that UMB Financial Corporation (NASDAQ:UMBF) will post sales of $255.01 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for UMB Financial Corporation’s earnings, with the lowest sales estimate coming in at $245.44 million and the highest estimate coming in at $262.00 million. UMB Financial Corporation reported sales of $247.79 million in the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The business is expected to announce its next earnings report on Tuesday, January 23rd.
On average, analysts expect that UMB Financial Corporation will report full year sales of $255.01 million for the current year, with estimates ranging from $985.88 million to $1.02 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.06 billion per share, with estimates ranging from $1.02 billion to $1.09 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow UMB Financial Corporation.
UMB Financial Corporation (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.05. UMB Financial Corporation had a return on equity of 9.03% and a net margin of 17.05%. The firm had revenue of $245.20 million for the quarter, compared to analysts’ expectations of $257.76 million. During the same quarter in the prior year, the firm posted $0.87 earnings per share. UMB Financial Corporation’s revenue for the quarter was up 7.4% compared to the same quarter last year.
UMBF has been the topic of several research reports. Zacks Investment Research upgraded UMB Financial Corporation from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research note on Thursday, October 5th. Piper Jaffray Companies set a $74.00 target price on UMB Financial Corporation and gave the company a “hold” rating in a report on Friday, August 25th. Stephens set a $71.00 target price on UMB Financial Corporation and gave the company a “hold” rating in a report on Wednesday, July 26th. Raymond James Financial, Inc. raised UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. Finally, UBS AG raised UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $77.20.
Shares of UMB Financial Corporation (NASDAQ:UMBF) opened at $72.88 on Monday. The company has a market cap of $3,634.31, a PE ratio of 19.80, a P/E/G ratio of 2.38 and a beta of 0.84. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.04.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, December 7th. This is a positive change from UMB Financial Corporation’s previous quarterly dividend of $0.26. This represents a $1.10 annualized dividend and a dividend yield of 1.51%. UMB Financial Corporation’s dividend payout ratio is 28.41%.
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In related news, Director Timothy R. Murphy bought 1,500 shares of the stock in a transaction dated Tuesday, September 12th. The stock was bought at an average cost of $67.50 per share, with a total value of $101,250.00. Following the completion of the acquisition, the director now owns 4,049 shares of the company’s stock, valued at $273,307.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 10.09% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its holdings in UMB Financial Corporation by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,868 shares of the bank’s stock worth $814,000 after buying an additional 33 shares in the last quarter. World Asset Management Inc grew its holdings in UMB Financial Corporation by 1.6% in the 2nd quarter. World Asset Management Inc now owns 2,769 shares of the bank’s stock worth $207,000 after buying an additional 43 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in UMB Financial Corporation by 1.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,383 shares of the bank’s stock worth $253,000 after buying an additional 53 shares in the last quarter. Aperio Group LLC grew its holdings in UMB Financial Corporation by 0.6% in the 2nd quarter. Aperio Group LLC now owns 15,129 shares of the bank’s stock worth $1,133,000 after buying an additional 85 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in UMB Financial Corporation by 1.6% in the 2nd quarter. Amalgamated Bank now owns 6,388 shares of the bank’s stock worth $478,000 after buying an additional 99 shares in the last quarter. 82.35% of the stock is owned by institutional investors and hedge funds.
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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