UMB Financial (UMBF) Upgraded to “Strong-Buy” by Zacks Investment Research

UMB Financial (NASDAQ:UMBF) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Friday. The firm presently has a $85.00 price objective on the bank’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.72% 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. “

UMBF has been the subject of a number of other reports. Piper Jaffray Companies reiterated a “neutral” rating and set a $74.00 price target on shares of UMB Financial in a report on Friday, October 6th. BidaskClub downgraded UMB Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $77.40.

Shares of UMB Financial (NASDAQ UMBF) traded up $0.25 during trading on Friday, reaching $76.08. The company’s stock had a trading volume of 111,893 shares, compared to its average volume of 188,444. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.66 and a current ratio of 0.66. UMB Financial has a 52-week low of $62.27 and a 52-week high of $81.55. The firm has a market cap of $3,700.00, a P/E ratio of 21.19, a P/E/G ratio of 1.99 and a beta of 0.83.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.05. UMB Financial had a return on equity of 9.03% and a net margin of 17.05%. The firm had revenue of $245.20 million during the quarter, compared to the consensus estimate of $257.76 million. During the same period last year, the business posted $0.87 EPS. The business’s revenue was up 7.4% compared to the same quarter last year. analysts forecast that UMB Financial will post 3.63 earnings per share for the current fiscal year.

In other news, insider Kevin M. Macke sold 1,332 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Christian R. Swett sold 1,862 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $73.50, for a total transaction of $136,857.00. The disclosure for this sale can be found here. 10.09% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of UMB Financial by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,604 shares of the bank’s stock worth $120,000 after purchasing an additional 130 shares in the last quarter. 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 worth $152,000 after purchasing an additional 129 shares in the last quarter. Riverhead Capital Management LLC boosted its position in shares of UMB Financial by 53.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,463 shares of the bank’s stock worth $184,000 after purchasing an additional 863 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of UMB Financial during the 3rd quarter worth about $144,000. Finally, Quantbot Technologies LP boosted its position in shares of UMB Financial by 119.7% during the 3rd quarter. Quantbot Technologies LP now owns 2,830 shares of the bank’s stock worth $210,000 after purchasing an additional 1,542 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

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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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