UMB Financial Corporation (UMBF) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of UMB Financial Corporation (NASDAQ:UMBF) from a hold rating to a buy rating in a research report released on Thursday morning. Zacks Investment Research currently has $84.00 target price on the bank’s stock.
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. “
A number of other brokerages have also recently issued reports on UMBF. BidaskClub upgraded shares of UMB Financial Corporation from a sell rating to a hold rating in a research note on Friday, June 30th. Stephens set a $71.00 price target on shares of UMB Financial Corporation and gave the stock a hold rating in a research note on Wednesday, July 26th. Raymond James Financial, Inc. upgraded shares of UMB Financial Corporation from a market perform rating to an outperform rating in a research note on Thursday, August 10th. UBS AG upgraded shares of UMB Financial Corporation from a market perform rating to an outperform rating in a research note on Thursday, August 10th. Finally, Piper Jaffray Companies set a $74.00 price target on shares of UMB Financial Corporation and gave the stock a hold rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three 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.
UMB Financial Corporation (NASDAQ:UMBF) opened at 74.92 on Thursday. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 21.65 and a beta of 0.89. The firm has a 50 day moving average of $69.01 and a 200-day moving average of $71.84. UMB Financial Corporation has a 1-year low of $59.65 and a 1-year high of $81.55.
UMB Financial Corporation (NASDAQ:UMBF) last released its earnings results on Tuesday, July 25th. The bank reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.02). The business had revenue of $247.70 million during the quarter, compared to analysts’ expectations of $261.84 million. UMB Financial Corporation had a return on equity of 8.81% and a net margin of 16.59%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 earnings per share. On average, equities research analysts anticipate that UMB Financial Corporation will post $3.63 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Thursday, September 7th. UMB Financial Corporation’s payout ratio is 29.39%.
In other news, Director Timothy R. Murphy purchased 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were bought at an average price of $67.50 per share, for a total transaction of $101,250.00. Following the purchase, the director now directly owns 4,049 shares in the company, valued at approximately $273,307.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 10.09% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in UMB Financial Corporation by 17,367.3% during the 1st quarter. BlackRock Inc. now owns 4,683,344 shares of the bank’s stock valued at $352,703,000 after acquiring an additional 4,656,532 shares during the period. Vanguard Group Inc. lifted its stake in UMB Financial Corporation by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,175,014 shares of the bank’s stock valued at $312,541,000 after acquiring an additional 80,269 shares during the period. State Street Corp lifted its stake in UMB Financial Corporation by 24.2% during the 1st quarter. State Street Corp now owns 2,250,512 shares of the bank’s stock valued at $169,490,000 after acquiring an additional 438,798 shares during the period. Victory Capital Management Inc. lifted its stake in UMB Financial Corporation by 8.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,274,598 shares of the bank’s stock valued at $95,416,000 after acquiring an additional 101,817 shares during the period. Finally, Northern Trust Corp lifted its stake in UMB Financial Corporation by 1.6% during the 2nd quarter. Northern Trust Corp now owns 1,255,306 shares of the bank’s stock valued at $93,972,000 after acquiring an additional 19,397 shares during the period. Institutional investors and hedge funds 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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