UMB Financial Corp. (UMBF) Stock Rating Lowered by Zacks Investment Research
UMB Financial Corp. (NASDAQ:UMBF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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 increased their price objective on shares of UMB Financial Corp. from $52.00 to $53.00 and gave the company 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 company’s stock. UMB Financial Corp. presently has an average rating of “Hold” and a consensus target price of $59.00.
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UMB Financial Corp. (NASDAQ:UMBF) traded down 0.71% during midday trading on Tuesday, hitting $61.37. 76,012 shares of the stock were exchanged. UMB Financial Corp. has a 12-month low of $39.55 and a 12-month high of $62.09. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 23.96 and a beta of 0.86. The firm has a 50 day moving average of $59.38 and a 200-day moving average of $55.90.
UMB Financial Corp. (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. The firm had revenue of $242.70 million for the quarter, compared to analysts’ expectations of $240.10 million. UMB Financial Corp. had a net margin of 13.28% and a return on equity of 6.71%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 EPS. On average, equities analysts expect that UMB Financial Corp. will post $3.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were issued a dividend of $0.245 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.98 annualized dividend and a dividend yield of 1.59%. UMB Financial Corp.’s payout ratio is currently 38.28%.
In other news, insider J Walker Brian sold 3,047 shares of the stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $60.45, for a total transaction of $184,191.15. Following the transaction, the insider now directly owns 5,776 shares in the company, valued at approximately $349,159.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christian R. Swett sold 1,518 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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. Insiders own 10.32% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of UMBF. Capstone Asset Management Co. raised its position in UMB Financial Corp. by 6.2% in the second quarter. Capstone Asset Management Co. now owns 13,993 shares of the company’s stock valued at $745,000 after buying an additional 820 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in UMB Financial Corp. by 125.3% in the second quarter. BNP Paribas Arbitrage SA now owns 13,688 shares of the company’s stock valued at $728,000 after buying an additional 7,612 shares during the last quarter. Skyline Asset Management LP acquired a new position in UMB Financial Corp. during the first quarter valued at approximately $13,625,000. Geode Capital Management LLC raised its position in UMB Financial Corp. by 10.9% in the first quarter. Geode Capital Management LLC now owns 301,500 shares of the company’s stock valued at $15,566,000 after buying an additional 29,640 shares during the last quarter. Finally, Rafferty Asset Management LLC acquired a new position in UMB Financial Corp. during the first quarter valued at approximately $490,000. Hedge funds and other institutional investors own 84.20% of the company’s stock.
UMB Financial Corp. Company Profile
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