UMB Financial (NASDAQ:UMBF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $86.00 price target on the bank’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.57% 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. “
Several other research firms have also weighed in on UMBF. Piper Jaffray Companies lifted their price objective on shares of UMB Financial from $78.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Wells Fargo & Co lifted their price objective on shares of UMB Financial from $71.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Finally, BidaskClub raised shares of UMB Financial from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. UMB Financial has a consensus rating of “Hold” and an average price target of $78.00.
UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. UMB Financial had a net margin of 23.35% and a return on equity of 9.05%. The business had revenue of $252.38 million for the quarter, compared to analyst estimates of $254.98 million. During the same quarter last year, the firm earned $0.91 EPS. UMB Financial’s quarterly revenue was up 9.9% compared to the same quarter last year. research analysts anticipate that UMB Financial will post 4.51 EPS for the current fiscal year.
In other UMB Financial news, insider J Walker Brian sold 3,454 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.36, for a total transaction of $263,747.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman J Mariner Kemper sold 5,451 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $77.02, for a total transaction of $419,836.02. The disclosure for this sale can be found here. Company insiders own 10.09% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its holdings in UMB Financial by 4.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,284,517 shares of the bank’s stock worth $92,382,000 after buying an additional 59,467 shares during the period. American Century Companies Inc. raised its holdings in UMB Financial by 7.2% during the 4th quarter. American Century Companies Inc. now owns 1,092,091 shares of the bank’s stock worth $78,543,000 after buying an additional 72,988 shares during the period. Champlain Investment Partners LLC raised its holdings in UMB Financial by 26.1% during the 4th quarter. Champlain Investment Partners LLC now owns 1,073,955 shares of the bank’s stock worth $77,239,000 after buying an additional 222,205 shares during the period. Wells Fargo & Company MN raised its holdings in shares of UMB Financial by 5.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,011,025 shares of the bank’s stock valued at $72,712,000 after purchasing an additional 56,517 shares during the last quarter. Finally, Carillon Tower Advisers Inc. acquired a new stake in shares of UMB Financial in the fourth quarter valued at approximately $49,685,000. Hedge funds and other institutional investors own 85.08% of the company’s stock.
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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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