UBS AG upgraded shares of UMB Financial Corporation (NASDAQ:UMBF) from a market perform rating to an outperform rating in a research report released on Thursday morning, The Fly reports.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of UMB Financial Corporation from a buy rating to a hold rating in a report on Thursday, June 29th. BidaskClub downgraded shares of UMB Financial Corporation from a sell rating to a strong sell rating in a report on Monday, July 31st. Stephens set a $71.00 price objective on shares of UMB Financial Corporation and gave the stock a hold rating in a report on Wednesday, July 26th. Finally, FBR & Co restated a hold rating and set a $82.00 price objective (up previously from $80.00) on shares of UMB Financial Corporation in a report on Friday, April 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $78.20.
Shares of UMB Financial Corporation (NASDAQ UMBF) traded up 1.79% during mid-day trading on Thursday, reaching $68.80. 20,302 shares of the company’s stock traded hands. The stock has a market cap of $3.44 billion, a PE ratio of 19.88 and a beta of 0.86. The firm has a 50 day moving average price of $72.49 and a 200-day moving average price of $74.31. UMB Financial Corporation has a 12 month low of $56.80 and a 12 month high of $81.55.
UMB Financial Corporation (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $247.70 million for the quarter, compared to analyst estimates of $261.84 million. During the same quarter in the previous year, the company posted $0.76 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts predict that UMB Financial Corporation will post $3.65 earnings per share for the current fiscal year.
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UMB Financial Corporation announced that its board has initiated a stock buyback program on Tuesday, April 25th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, Chairman J Mariner Kemper sold 21,600 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $75.17, for a total value of $1,623,672.00. Following the completion of the sale, the chairman now owns 186,373 shares in the company, valued at approximately $14,009,658.41. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexander C. Kemper sold 2,500 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $74.65, for a total transaction of $186,625.00. Following the completion of the sale, the director now owns 11,309 shares of the company’s stock, valued at approximately $844,216.85. The disclosure for this sale can be found here. In the last quarter, insiders bought 2,300 shares of company stock valued at $162,044 and sold 27,225 shares valued at $2,043,235. Corporate insiders own 10.09% of the company’s stock.
Several hedge funds have recently bought and sold shares of UMBF. Guggenheim Capital LLC raised its stake in UMB Financial Corporation by 146.8% in the fourth quarter. Guggenheim Capital LLC now owns 14,832 shares of the bank’s stock valued at $1,143,000 after buying an additional 8,822 shares during the last quarter. Teachers Advisors LLC raised its stake in UMB Financial Corporation by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 76,519 shares of the bank’s stock valued at $5,901,000 after buying an additional 2,094 shares during the last quarter. Creative Planning raised its stake in UMB Financial Corporation by 0.6% in the first quarter. Creative Planning now owns 10,194 shares of the bank’s stock valued at $768,000 after buying an additional 56 shares during the last quarter. First National Bank of Omaha raised its stake in UMB Financial Corporation by 11.9% in the first quarter. First National Bank of Omaha now owns 45,333 shares of the bank’s stock valued at $3,414,000 after buying an additional 4,810 shares during the last quarter. Finally, Capstone Asset Management Co. raised its stake in UMB Financial Corporation by 0.8% in the first quarter. Capstone Asset Management Co. now owns 3,833 shares of the bank’s stock valued at $289,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 82.01% 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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