UMB Financial (UMBF) Raised to “Hold” at Zacks Investment Research
UMB Financial (NASDAQ:UMBF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
Several other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of UMB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $74.00 target price on shares of UMB Financial in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $77.20.
UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, October 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. UMB Financial had a net margin of 17.05% and a return on equity of 9.03%. The company had revenue of $245.20 million for the quarter, compared to analysts’ expectations of $257.76 million. During the same quarter in the previous year, the company posted $0.87 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. sell-side analysts predict that UMB Financial will post 3.63 EPS for the current year.
In other news, insider Kevin M. Macke sold 1,332 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $75.50, for a total transaction of $100,566.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 10.09% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its position in shares of UMB Financial by 0.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,868 shares of the bank’s stock valued at $814,000 after acquiring an additional 33 shares during the last quarter. World Asset Management Inc boosted its position in shares of UMB Financial by 1.6% during the 2nd quarter. World Asset Management Inc now owns 2,769 shares of the bank’s stock valued at $207,000 after acquiring an additional 43 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of UMB Financial by 1.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,383 shares of the bank’s stock valued at $253,000 after acquiring an additional 53 shares during the last quarter. Amalgamated Bank boosted its position in shares of UMB Financial by 1.6% during the 2nd quarter. Amalgamated Bank now owns 6,388 shares of the bank’s stock valued at $478,000 after acquiring an additional 99 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of UMB Financial by 6.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,019 shares of the bank’s stock valued at $152,000 after acquiring an additional 129 shares during the last quarter. 83.00% of the stock is currently owned by hedge funds and other institutional investors.
About UMB Financial
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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