UMB Financial Corp. (NASDAQ:UMBF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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. “
Separately, Keefe, Bruyette & Woods boosted their target price on shares of UMB Financial Corp. from $52.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, July 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $59.00.
UMB Financial Corp. (NASDAQ:UMBF) opened at 61.80 on Tuesday. UMB Financial Corp. has a 12 month low of $39.55 and a 12 month high of $62.20. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 24.13 and a beta of 0.86. The firm’s 50-day moving average is $59.52 and its 200-day moving average is $55.99.
UMB Financial Corp. (NASDAQ:UMBF) last announced its earnings results on Tuesday, July 26th. The company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. UMB Financial Corp. had a net margin of 13.28% and a return on equity of 6.71%. The firm had revenue of $242.70 million for the quarter, compared to analysts’ expectations of $240.10 million. During the same quarter in the previous year, the business posted $0.65 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts anticipate that UMB Financial Corp. will post $3.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were given a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Wednesday, September 7th. UMB Financial Corp.’s dividend payout ratio is presently 38.28%.
In other news, insider J Walker Brian sold 3,047 shares of UMB Financial Corp. stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $60.45, for a total value of $184,191.15. Following the completion of the transaction, the insider now owns 5,776 shares of the company’s stock, valued at approximately $349,159.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christian R. Swett sold 1,518 shares of UMB Financial Corp. stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $60.51, for a total value of $91,854.18. Following the completion of the transaction, the executive vice president now directly owns 5,746 shares of the company’s stock, valued at approximately $347,690.46. The disclosure for this sale can be found here. 10.32% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. raised its position in shares of UMB Financial Corp. by 20.8% in the second quarter. American Century Companies Inc. now owns 2,653,371 shares of the company’s stock worth $141,186,000 after buying an additional 456,730 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of UMB Financial Corp. during the second quarter worth $17,282,000. Skyline Asset Management LP acquired a new position in shares of UMB Financial Corp. during the first quarter worth $13,625,000. BlackRock Fund Advisors raised its position in shares of UMB Financial Corp. by 8.0% in the second quarter. BlackRock Fund Advisors now owns 2,890,209 shares of the company’s stock worth $153,788,000 after buying an additional 213,027 shares during the period. Finally, State Street Corp raised its position in shares of UMB Financial Corp. by 12.9% in the first quarter. State Street Corp now owns 1,314,542 shares of the company’s stock worth $67,866,000 after buying an additional 150,084 shares during the period. 84.20% of the stock is owned by hedge funds and other institutional investors.
About UMB Financial Corp.
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