Zacks Investment Research downgraded shares of UMB Financial Corporation (NASDAQ:UMBF) from a strong-buy rating to a hold rating in a research note published on Thursday, July 13th.
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 brokerages have also issued reports on UMBF. FBR & Co upped their target price on UMB Financial Corporation from $80.00 to $82.00 and gave the company a mkt perform rating in a research report on Thursday, April 27th. Raymond James Financial, Inc. raised UMB Financial Corporation from an underperform rating to a market perform rating in a report on Thursday, March 16th. BidaskClub raised UMB Financial Corporation from a sell rating to a hold rating in a report on Friday, June 30th. Keefe, Bruyette & Woods set a $75.00 target price on UMB Financial Corporation and gave the stock a hold rating in a report on Tuesday, April 4th. Finally, Stephens reiterated a hold rating on shares of UMB Financial Corporation in a research report on Thursday, April 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $78.20.
Shares of UMB Financial Corporation (UMBF) traded down 0.19% during trading on Thursday, hitting $67.59. 147,075 shares of the stock traded hands. UMB Financial Corporation has a 1-year low of $56.80 and a 1-year high of $81.55. The stock has a 50 day moving average price of $72.63 and a 200-day moving average price of $74.35. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 19.53 and a beta of 0.86.
UMB Financial Corporation (NASDAQ:UMBF) last announced its earnings results on Tuesday, July 25th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by $0.02. UMB Financial Corporation had a net margin of 16.59% and a return on equity of 8.81%. The business had revenue of $247.70 million for the quarter, compared to analyst estimates of $261.84 million. During the same period in the prior year, the company earned $0.76 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Equities analysts forecast that UMB Financial Corporation will post $3.65 EPS for the current year.
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UMB Financial Corporation announced that its board has approved a stock repurchase plan on Tuesday, April 25th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
In other UMB Financial Corporation news, Chairman J Mariner Kemper sold 21,600 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $75.17, for a total transaction of $1,623,672.00. Following the completion of the sale, the chairman now owns 186,373 shares of the company’s stock, valued at $14,009,658.41. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy R. Murphy acquired 2,000 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was purchased at an average cost of $70.53 per share, with a total value of $141,060.00. Following the completion of the purchase, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $179,780.97. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 2,300 shares of company stock valued at $162,044 and have sold 27,225 shares valued at $2,043,235. 10.09% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in UMB Financial Corporation by 17,367.3% in the first quarter. BlackRock Inc. now owns 4,683,344 shares of the bank’s stock worth $352,703,000 after buying an additional 4,656,532 shares during the period. State Street Corp raised its position in UMB Financial Corporation by 24.2% in the first quarter. State Street Corp now owns 2,250,512 shares of the bank’s stock worth $169,490,000 after buying an additional 438,798 shares during the period. Vanguard Group Inc. raised its position in UMB Financial Corporation by 11.8% in the first quarter. Vanguard Group Inc. now owns 4,094,745 shares of the bank’s stock worth $308,375,000 after buying an additional 432,314 shares during the period. Norges Bank acquired a new stake in shares of UMB Financial Corporation during the fourth quarter worth about $24,103,000. Finally, Eagle Asset Management Inc. increased its stake in shares of 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 period. Hedge funds and other institutional investors own 81.99% of the company’s stock.
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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