UMB Financial Corporation (NASDAQ:UMBF) Lifted to “Buy” at Zacks Investment Research
UMB Financial Corporation (NASDAQ:UMBF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, October 5th. The firm presently has a $84.00 price objective on the bank’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.56% 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 equities research analysts have also recently commented on the stock. BidaskClub raised shares of UMB Financial Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 21st. Stephens set a $71.00 target price on shares of UMB Financial Corporation and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Piper Jaffray Companies set a $74.00 target price on shares of UMB Financial Corporation and gave the stock a “hold” rating in a research report on Friday, August 25th. Raymond James Financial, Inc. raised shares of UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 10th. Finally, UBS AG raised shares of UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. UMB Financial Corporation currently has an average rating of “Hold” and a consensus target price of $77.20.
Shares of UMB Financial Corporation (UMBF) traded down 0.34% on Thursday, reaching $73.97. 86,227 shares of the company were exchanged. UMB Financial Corporation has a 12-month low of $59.70 and a 12-month high of $81.55. The firm has a 50 day moving average price of $70.20 and a 200-day moving average price of $71.91. The stock has a market capitalization of $3.70 billion, a PE ratio of 21.37 and a beta of 0.89.
UMB Financial Corporation (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, July 25th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). UMB Financial Corporation had a return on equity of 8.81% and a net margin of 16.59%. The firm had revenue of $247.70 million during the quarter, compared to the consensus estimate of $261.84 million. During the same period last year, the business earned $0.76 EPS. UMB Financial Corporation’s revenue was up 10.6% on a year-over-year basis. On average, analysts predict that UMB Financial Corporation will post $3.60 EPS for the current fiscal year.
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In other UMB Financial Corporation news, Director Timothy R. Murphy purchased 1,500 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 4,049 shares in the company, valued at approximately $273,307.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 10.09% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in UMB Financial Corporation by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 988,794 shares of the bank’s stock worth $74,022,000 after buying an additional 52,788 shares during the last quarter. Prudential Financial Inc. raised its holdings in UMB Financial Corporation by 56.1% in the first quarter. Prudential Financial Inc. now owns 52,875 shares of the bank’s stock worth $3,982,000 after buying an additional 19,010 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in UMB Financial Corporation by 8.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 217,017 shares of the bank’s stock worth $16,344,000 after buying an additional 16,375 shares during the last quarter. Eagle Asset Management Inc. raised its holdings 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 worth $59,075,000 after buying an additional 198,343 shares during the last quarter. Finally, Keybank National Association OH raised its holdings in UMB Financial Corporation by 19.6% in the second quarter. Keybank National Association OH now owns 23,200 shares of the bank’s stock worth $1,737,000 after buying an additional 3,800 shares during the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.
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.
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