UMB Financial Corporation (UMBF) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS
UMB Financial Corporation (NASDAQ:UMBF) announced its quarterly earnings data on Tuesday. The bank reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.05, Briefing.com reports. UMB Financial Corporation had a net margin of 16.59% and a return on equity of 8.81%. The firm had revenue of $245.20 million during the quarter, compared to analysts’ expectations of $257.76 million. During the same quarter last year, the business earned $0.87 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year.
UMB Financial Corporation (NASDAQ UMBF) opened at 74.35 on Wednesday. The firm has a market cap of $3.72 billion, a PE ratio of 21.48 and a beta of 0.89. UMB Financial Corporation has a 12 month low of $59.81 and a 12 month high of $81.55. The firm’s 50-day moving average is $71.56 and its 200-day moving average is $71.89.
UMBF has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of UMB Financial Corporation from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Friday, July 7th. BidaskClub cut shares of UMB Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. 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. Piper Jaffray Companies set a $74.00 price objective on shares of UMB Financial Corporation and gave the company a “hold” rating in a research note on Friday, August 25th. Finally, Raymond James Financial, Inc. upgraded shares of UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. UMB Financial Corporation has a consensus rating of “Hold” and a consensus price target of $77.20.
ILLEGAL ACTIVITY WARNING: This news story was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of international trademark and copyright laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/10/24/umb-financial-corporation-umbf-announces-quarterly-earnings-results.html.
In other UMB Financial Corporation news, Director Timothy R. Murphy purchased 1,500 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was bought at an average cost of $67.50 per share, with a total value of $101,250.00. Following the acquisition, the director now owns 4,049 shares of the company’s stock, valued at $273,307.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.09% of the stock is currently owned by corporate insiders.
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.
Receive News & Ratings for UMB Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UMB Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.