UMB Financial Corp. (UMBF) Downgraded by Zacks Investment Research to “Hold”
UMB Financial Corp. (NASDAQ:UMBF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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 price target 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. UMB Financial Corp. has an average rating of “Hold” and a consensus target price of $59.00.
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Shares of UMB Financial Corp. (NASDAQ:UMBF) traded down 0.71% during trading on Tuesday, hitting $61.37. 75,912 shares of the company’s stock were exchanged. The stock has a market cap of $3.04 billion, a P/E ratio of 23.96 and a beta of 0.86. The firm has a 50-day moving average price of $59.38 and a 200-day moving average price of $55.90. UMB Financial Corp. has a one year low of $39.55 and a one year high of $62.09.
UMB Financial Corp. (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates 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 business earned $242.70 million during the quarter, compared to analysts’ expectations of $240.10 million. During the same period last year, the company posted $0.65 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Equities research analysts expect that UMB Financial Corp. will post $3.09 EPS for the current fiscal 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 $0.245 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.98 annualized dividend and a yield of 1.59%. UMB Financial Corp.’s dividend payout ratio (DPR) is 38.28%.
In other UMB Financial Corp. news, insider J Walker Brian sold 3,047 shares of the business’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $60.45, for a total value of $184,191.15. Following the completion of the sale, the insider now directly owns 5,776 shares of the company’s stock, valued at approximately $349,159.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Christian R. Swett sold 1,518 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $60.51, for a total transaction of $91,854.18. Following the completion of the sale, the executive vice president now directly owns 5,746 shares of the company’s stock, valued at $347,690.46. The disclosure for this sale can be found here. 10.32% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its stake in UMB Financial Corp. by 77.0% in the second quarter. Victory Capital Management Inc. now owns 1,998 shares of the company’s stock valued at $106,000 after buying an additional 869 shares in the last quarter. BlackRock Inc. raised its stake in UMB Financial Corp. by 60.0% in the first quarter. BlackRock Inc. now owns 2,595 shares of the company’s stock valued at $134,000 after buying an additional 973 shares in the last quarter. Paloma Partners Management Co acquired a new stake in UMB Financial Corp. during the second quarter valued at approximately $253,000. BlackRock Japan Co. Ltd acquired a new stake in UMB Financial Corp. during the second quarter valued at approximately $260,000. Finally, Bank of Montreal Can acquired a new stake in UMB Financial Corp. during the second quarter valued at approximately $261,000. 84.20% of the stock is owned by institutional investors.
About UMB Financial Corp.
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