Zacks Investment Research downgraded shares of UMB Financial (NASDAQ:UMBF) from a buy rating to a hold rating in a research note issued to investors on Friday.
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. “
A number of other equities analysts have also recently issued reports on the company. BidaskClub cut UMB Financial from a hold rating to a sell rating in a report on Wednesday, March 28th. Piper Jaffray increased their price target on UMB Financial from $78.00 to $79.00 and gave the stock a neutral rating in a report on Friday, February 2nd. Finally, Wells Fargo increased their price target on UMB Financial from $71.00 to $75.00 and gave the stock a market perform rating in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $78.60.
Shares of UMBF stock opened at $73.98 on Friday. UMB Financial has a one year low of $62.27 and a one year high of $78.67. The company has a market capitalization of $3,658.48, a P/E ratio of 19.73, a P/E/G ratio of 1.36 and a beta of 0.84. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04.
UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The firm had revenue of $252.38 million for the quarter, compared to analysts’ expectations of $254.98 million. UMB Financial had a return on equity of 9.05% and a net margin of 23.35%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. sell-side analysts anticipate that UMB Financial will post 4.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Friday, March 9th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.57%. This is a boost from UMB Financial’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, March 8th. UMB Financial’s dividend payout ratio is presently 30.93%.
In other UMB Financial news, Director Timothy R. Murphy purchased 1,500 shares of the business’s stock in a transaction on Wednesday, March 14th. The shares were purchased at an average cost of $76.23 per share, for a total transaction of $114,345.00. Following the acquisition, the director now owns 6,135 shares of the company’s stock, valued at $467,671.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider J Walker Brian sold 3,454 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.36, for a total value of $263,747.44. The disclosure for this sale can be found here. Insiders have acquired a total of 1,776 shares of company stock worth $135,338 over the last 90 days. Company insiders own 10.26% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Xact Kapitalforvaltning AB bought a new position in shares of UMB Financial in the 4th quarter worth $297,000. MetLife Investment Advisors LLC bought a new position in shares of UMB Financial in the 4th quarter worth $3,479,000. Jane Street Group LLC bought a new position in shares of UMB Financial in the 4th quarter worth $475,000. Zeke Capital Advisors LLC bought a new position in shares of UMB Financial in the 4th quarter worth $202,000. Finally, Millennium Management LLC lifted its holdings in shares of UMB Financial by 130.2% in the 4th quarter. Millennium Management LLC now owns 175,733 shares of the bank’s stock worth $12,639,000 after purchasing an additional 99,395 shares in the last quarter. Institutional investors own 85.33% of the company’s stock.
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About UMB Financial
UMB Financial Corporation, a bank holding company, provides various banking and other financial services. It operates through two segments, Bank and Asset Servicing. The Bank segment offers a range of banking services to commercial, retail, government, and correspondent bank customers through its branches, call center, Internet banking, and ATM network.
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