UMB Financial (NASDAQ:UMBF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $86.00 price objective on the bank’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.70% from the stock’s current price.
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 analysts have also recently weighed in on UMBF. BidaskClub cut shares of UMB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Wells Fargo & Co boosted their price objective on shares of UMB Financial from $71.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Finally, Piper Jaffray Companies boosted their price objective on shares of UMB Financial from $78.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $78.00.
UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. UMB Financial had a net margin of 23.35% and a return on equity of 9.05%. The company had revenue of $252.38 million for the quarter, compared to analysts’ expectations of $254.98 million. During the same quarter in the previous year, the firm posted $0.91 earnings per share. UMB Financial’s revenue for the quarter was up 9.9% on a year-over-year basis. equities research analysts anticipate that UMB Financial will post 4.51 EPS for the current year.
In other UMB Financial news, Chairman J Mariner Kemper sold 5,451 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $77.02, for a total transaction of $419,836.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider J Walker Brian sold 3,454 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.36, for a total transaction of $263,747.44. The disclosure for this sale can be found here. Corporate insiders own 10.09% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of UMBF. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in UMB Financial by 50.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,411 shares of the bank’s stock valued at $173,000 after acquiring an additional 807 shares during the last quarter. Zeke Capital Advisors LLC bought a new stake in UMB Financial during the fourth quarter valued at $202,000. Advisor Group Inc. boosted its position in UMB Financial by 137.6% during the fourth quarter. Advisor Group Inc. now owns 2,892 shares of the bank’s stock valued at $209,000 after acquiring an additional 1,675 shares during the last quarter. Quantbot Technologies LP boosted its position in UMB Financial by 119.7% during the third quarter. Quantbot Technologies LP now owns 2,830 shares of the bank’s stock valued at $210,000 after acquiring an additional 1,542 shares during the last quarter. Finally, Tyers Asset Management LLC boosted its position in UMB Financial by 31.3% during the fourth quarter. Tyers Asset Management LLC now owns 3,088 shares of the bank’s stock valued at $222,000 after acquiring an additional 736 shares during the last quarter. 85.08% of the stock is currently owned by institutional investors and hedge funds.
About UMB Financial
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for UMB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UMB Financial and related companies with MarketBeat.com's FREE daily email newsletter.