Piper Jaffray Companies Reiterates “Neutral” Rating for UMB Financial Corporation (UMBF)
UMB Financial Corporation (NASDAQ:UMBF)‘s stock had its “neutral” rating reissued by stock analysts at Piper Jaffray Companies in a research note issued on Friday. They presently have a $74.00 price objective on the bank’s stock. Piper Jaffray Companies’ price target suggests a potential downside of 0.72% from the stock’s previous close.
Several other equities analysts have also commented on UMBF. UBS AG raised UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. Zacks Investment Research raised UMB Financial Corporation from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Thursday. Raymond James Financial, Inc. raised UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. BidaskClub upgraded shares of UMB Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Stephens set a $71.00 price objective on shares of UMB Financial Corporation and gave the company a “hold” rating in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. UMB Financial Corporation presently has an average rating of “Hold” and an average price target of $77.20.
UMB Financial Corporation (NASDAQ:UMBF) traded up 0.39% during mid-day trading on Friday, hitting $74.83. The stock had a trading volume of 36,759 shares. The stock has a market cap of $3.74 billion, a P/E ratio of 21.62 and a beta of 0.89. The firm has a 50-day moving average of $68.76 and a 200-day moving average of $71.85. UMB Financial Corporation has a 52-week low of $59.65 and a 52-week high of $81.55.
UMB Financial Corporation (NASDAQ:UMBF) last posted its earnings results on Tuesday, July 25th. The bank reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $247.70 million during the quarter, compared to analysts’ expectations of $261.84 million. UMB Financial Corporation had a net margin of 16.59% and a return on equity of 8.81%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. On average, analysts forecast that UMB Financial Corporation will post $3.63 EPS for the current fiscal year.
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In related news, Director Timothy R. Murphy acquired 1,500 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was bought at an average price of $67.50 per share, for a total transaction of $101,250.00. Following the completion of the purchase, the director now directly owns 4,049 shares of the company’s stock, valued at approximately $273,307.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.09% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UMBF. BlackRock Inc. boosted its stake in UMB Financial Corporation by 17,367.3% in the first quarter. BlackRock Inc. now owns 4,683,344 shares of the bank’s stock valued at $352,703,000 after acquiring an additional 4,656,532 shares in the last quarter. State Street Corp boosted its stake in UMB Financial Corporation by 24.2% in the first quarter. State Street Corp now owns 2,250,512 shares of the bank’s stock valued at $169,490,000 after acquiring an additional 438,798 shares in the last quarter. Vanguard Group Inc. boosted its stake in UMB Financial Corporation by 11.8% in the first quarter. Vanguard Group Inc. now owns 4,094,745 shares of the bank’s stock valued at $308,375,000 after acquiring an additional 432,314 shares in the last quarter. Cramer Rosenthal Mcglynn LLC boosted its stake in UMB Financial Corporation by 48.2% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 739,900 shares of the bank’s stock valued at $55,389,000 after acquiring an additional 240,575 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in UMB Financial Corporation by 33.6% in the second quarter. Eagle Asset Management Inc. now owns 789,143 shares of the bank’s stock valued at $59,075,000 after acquiring an additional 198,343 shares in the last quarter. Institutional investors own 82.45% of the company’s stock.
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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