UMB Financial (NASDAQ:UMBF) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday. The firm presently has a $85.00 target price on the bank’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.72% from the company’s current price.
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. “
Other analysts have also issued reports about the stock. BidaskClub lowered shares of UMB Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Piper Jaffray Companies reissued a “neutral” rating and issued a $74.00 price target on shares of UMB Financial in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $77.40.
UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, October 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The business had revenue of $245.20 million during the quarter, compared to analyst estimates of $257.76 million. UMB Financial had a net margin of 17.05% and a return on equity of 9.03%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. research analysts anticipate that UMB Financial will post 3.59 EPS for the current fiscal year.
In related news, insider Kevin M. Macke sold 1,332 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $75.50, for a total value of $100,566.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christian R. Swett sold 1,862 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $73.50, for a total value of $136,857.00. The disclosure for this sale can be found here. 10.09% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in UMB Financial by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,604 shares of the bank’s stock worth $120,000 after buying an additional 130 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in UMB Financial by 6.8% in the second quarter. PNC Financial Services Group Inc. now owns 2,019 shares of the bank’s stock worth $152,000 after buying an additional 129 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in UMB Financial by 53.9% in the second quarter. Riverhead Capital Management LLC now owns 2,463 shares of the bank’s stock worth $184,000 after buying an additional 863 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in UMB Financial in the third quarter worth approximately $144,000. Finally, Quantbot Technologies LP increased its holdings in UMB Financial by 119.7% in the third quarter. Quantbot Technologies LP now owns 2,830 shares of the bank’s stock worth $210,000 after buying an additional 1,542 shares during the last quarter. Hedge funds and other institutional investors own 82.97% 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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