UMB Financial Corporation (UMBF) Stock Rating Upgraded by Zacks Investment Research
UMB Financial Corporation (NASDAQ:UMBF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $84.00 target price on the bank’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.69% from the company’s previous close.
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. “
A number of other equities analysts have also recently commented on UMBF. BidaskClub raised shares of UMB Financial Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 21st. Stephens set a $71.00 price objective on shares of UMB Financial Corporation and gave the stock a “hold” rating in a research report on Wednesday, July 26th. UBS AG raised shares of UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 10th. Raymond James Financial, Inc. raised shares of UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 10th. Finally, Piper Jaffray Companies set a $74.00 price objective on shares of UMB Financial Corporation and gave the stock a “hold” rating in a research report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $77.20.
Shares of UMB Financial Corporation (NASDAQ:UMBF) traded up 1.83% during mid-day trading on Thursday, reaching $74.54. 163,225 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $68.76 and its 200-day moving average is $71.85. UMB Financial Corporation has a 52-week low of $59.65 and a 52-week high of $81.55. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 21.54 and a beta of 0.89.
UMB Financial Corporation (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.02). UMB Financial Corporation had a return on equity of 8.81% and a net margin of 16.59%. The company had revenue of $247.70 million for the quarter, compared to the consensus estimate of $261.84 million. During the same period last year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts expect that UMB Financial Corporation will post $3.63 EPS for the current year.
In other UMB Financial Corporation news, Director Timothy R. Murphy bought 1,500 shares of UMB Financial Corporation stock in a transaction dated Tuesday, September 12th. The stock was bought at an average price of $67.50 per share, with a total value of $101,250.00. Following the completion of the transaction, the director now owns 4,049 shares in the company, valued at approximately $273,307.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.09% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Invictus RG bought a new stake in shares of UMB Financial Corporation in the first quarter valued at about $111,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of UMB Financial Corporation by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,604 shares of the bank’s stock valued at $120,000 after acquiring an additional 130 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of UMB Financial Corporation by 21.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,890 shares of the bank’s stock valued at $143,000 after acquiring an additional 330 shares during the period. Riverhead Capital Management LLC boosted its position in shares of UMB Financial Corporation by 53.9% in the second quarter. Riverhead Capital Management LLC now owns 2,463 shares of the bank’s stock valued at $184,000 after acquiring an additional 863 shares during the period. Finally, Pitcairn Co. bought a new stake in shares of UMB Financial Corporation in the second quarter valued at about $201,000. 82.45% of the stock is owned by institutional investors.
UMB Financial Corporation Company Profile
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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