Zacks Investment Research lowered shares of UMB Financial Corp. (NASDAQ:UMBF) from a buy rating to a hold rating in a research report report published 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 lifted their target price on shares of UMB Financial Corp. from $52.00 to $53.00 and gave the stock a market perform rating in a research note on Thursday, July 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $59.00.
Shares of UMB Financial Corp. (NASDAQ:UMBF) opened at 60.64 on Tuesday. The stock has a market cap of $3.00 billion, a P/E ratio of 23.68 and a beta of 0.86. The stock has a 50 day moving average of $59.57 and a 200 day moving average of $56.08. UMB Financial Corp. has a one year low of $39.55 and a one year high of $62.20.
UMB Financial Corp. (NASDAQ:UMBF) last issued its earnings results on Tuesday, July 26th. The company reported $0.76 EPS for the quarter, topping the 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 company had revenue of $242.70 million for the quarter, compared to the consensus estimate of $240.10 million. During the same period in the previous year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts forecast that UMB Financial Corp. will post $3.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Wednesday, September 7th. UMB Financial Corp.’s payout ratio is currently 38.28%.
In other news, insider J Walker Brian sold 3,047 shares of the business’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $60.45, for a total transaction of $184,191.15. Following the sale, the insider now owns 5,776 shares in the company, valued at approximately $349,159.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Christian R. Swett sold 1,518 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $60.51, for a total transaction of $91,854.18. Following the sale, the executive vice president now owns 5,746 shares in the company, valued at approximately $347,690.46. The disclosure for this sale can be found here. Company insiders own 10.32% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its stake in shares of UMB Financial Corp. by 77.0% in the second quarter. Victory Capital Management Inc. now owns 1,998 shares of the company’s stock worth $106,000 after buying an additional 869 shares during the period. BlackRock Inc. boosted its stake in shares of UMB Financial Corp. by 60.0% in the first quarter. BlackRock Inc. now owns 2,595 shares of the company’s stock worth $134,000 after buying an additional 973 shares during the period. Paloma Partners Management Co acquired a new stake in shares of UMB Financial Corp. during the second quarter worth approximately $253,000. BlackRock Japan Co. Ltd acquired a new stake in shares of UMB Financial Corp. during the second quarter worth approximately $260,000. Finally, Bank of Montreal Can acquired a new stake in shares of UMB Financial Corp. during the second quarter worth approximately $261,000. Hedge funds and other institutional investors own 84.20% of the company’s stock.
UMB Financial Corp. Company Profile