Insider Buying: UMB Financial Corporation (UMBF) Director Buys 286 Shares of Stock
UMB Financial Corporation (NASDAQ:UMBF) Director Greg M. Graves purchased 286 shares of the stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average cost of $69.92 per share, for a total transaction of $19,997.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of UMB Financial Corporation (NASDAQ UMBF) traded down 0.67% on Thursday, reaching $69.74. The company had a trading volume of 150,714 shares. The company has a 50-day moving average price of $73.55 and a 200-day moving average price of $74.55. The firm has a market cap of $3.44 billion, a P/E ratio of 20.15 and a beta of 0.86. UMB Financial Corporation has a one year low of $54.39 and a one year high of $81.55.
UMB Financial Corporation (NASDAQ:UMBF) last released its earnings results on Tuesday, July 25th. The bank reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by $0.02. The firm had revenue of $247.70 million for the quarter, compared to the consensus estimate of $261.84 million. UMB Financial Corporation had a return on equity of 8.81% and a net margin of 16.59%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 EPS. On average, analysts expect that UMB Financial Corporation will post $3.67 earnings per share for the current fiscal year.
UMB Financial Corporation announced that its board has approved a share repurchase plan on Tuesday, April 25th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
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Several brokerages recently weighed in on UMBF. Stephens set a $71.00 target price on UMB Financial Corporation and gave the company a “hold” rating in a research note on Wednesday, July 26th. Zacks Investment Research cut UMB Financial Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, April 29th. BidaskClub raised UMB Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, FBR & Co reaffirmed a “hold” rating and set a $82.00 target price (up previously from $80.00) on shares of UMB Financial Corporation in a research note on Friday, April 21st. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The company has an average rating of “Hold” and an average target price of $78.20.
A number of large investors have recently added to or reduced their stakes in UMBF. Prudential Financial Inc. boosted its position in UMB Financial Corporation by 56.1% in the first quarter. Prudential Financial Inc. now owns 52,875 shares of the bank’s stock worth $3,982,000 after buying an additional 19,010 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in UMB Financial Corporation by 8.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 217,017 shares of the bank’s stock worth $16,344,000 after buying an additional 16,375 shares in the last quarter. Guggenheim Capital LLC boosted its position in UMB Financial Corporation by 146.8% in the fourth quarter. Guggenheim Capital LLC now owns 14,832 shares of the bank’s stock worth $1,143,000 after buying an additional 8,822 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in UMB Financial Corporation by 3.4% in the first quarter. Great West Life Assurance Co. Can now owns 25,308 shares of the bank’s stock worth $1,904,000 after buying an additional 834 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its position in UMB Financial Corporation by 0.8% in the first quarter. Capstone Asset Management Co. now owns 3,833 shares of the bank’s stock worth $289,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.
About UMB Financial Corporation
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.
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