UMB Financial (UMBF) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of UMB Financial (NASDAQ:UMBF) from a sell rating to a hold rating in a research report report published on Wednesday morning.
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. “
UMBF has been the subject of a number of other reports. Piper Jaffray Companies reissued a neutral rating and set a $74.00 target price on shares of UMB Financial in a research note on Friday, October 6th. BidaskClub downgraded UMB Financial from a hold rating to a sell rating in a research note on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $77.20.
UMB Financial (NASDAQ:UMBF) last issued its 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 the consensus estimate of $257.76 million. UMB Financial had a return on equity of 9.03% and a net margin of 17.05%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 EPS. research analysts anticipate that UMB Financial will post 3.63 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be paid a $0.275 dividend. This is an increase from UMB Financial’s previous quarterly dividend of $0.26. This represents a $1.10 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, December 7th. UMB Financial’s dividend payout ratio (DPR) is presently 30.64%.
In related news, EVP Christian R. Swett sold 1,862 shares of the firm’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin M. Macke sold 1,332 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $75.50, for a total value of $100,566.00. The disclosure for this sale can be found here. Company insiders own 10.09% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its stake in UMB Financial by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,868 shares of the bank’s stock valued at $814,000 after purchasing an additional 33 shares in the last quarter. World Asset Management Inc increased its stake in UMB Financial by 1.6% in the 2nd quarter. World Asset Management Inc now owns 2,769 shares of the bank’s stock valued at $207,000 after purchasing an additional 43 shares in the last quarter. Teacher Retirement System of Texas increased its stake in UMB Financial by 1.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,383 shares of the bank’s stock valued at $253,000 after purchasing an additional 53 shares in the last quarter. Amalgamated Bank increased its stake in UMB Financial by 1.6% in the 2nd quarter. Amalgamated Bank now owns 6,388 shares of the bank’s stock valued at $478,000 after purchasing an additional 99 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in UMB Financial by 6.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,019 shares of the bank’s stock valued at $152,000 after purchasing an additional 129 shares in the last quarter. 83.00% of the stock is owned by hedge funds and other institutional investors.
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UMB Financial Company Profile
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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