UMB Financial (NASDAQ:UMBF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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 research analysts have also weighed in on UMBF. BidaskClub lowered shares of UMB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Wells Fargo & Co upped their price objective on shares of UMB Financial from $71.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Finally, Piper Jaffray Companies upped their price objective on shares of UMB Financial from $78.00 to $79.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $77.83.
UMB Financial (NASDAQ UMBF) traded up $0.41 during trading on Wednesday, reaching $74.39. 140,400 shares of the company’s stock traded hands, compared to its average volume of 264,734. The firm has a market cap of $3,689.18, a price-to-earnings ratio of 14.97, a PEG ratio of 1.47 and a beta of 0.87. 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 has a 1 year low of $62.27 and a 1 year high of $81.55.
UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.02. The firm had revenue of $252.38 million for the quarter, compared to analyst estimates of $254.98 million. UMB Financial had a net margin of 23.35% and a return on equity of 9.05%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. research analysts expect that UMB Financial will post 4.51 EPS for the current fiscal year.
In other news, EVP Christian R. Swett sold 1,862 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $73.50, for a total transaction of $136,857.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kevin M. Macke sold 1,332 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $75.50, for a total transaction of $100,566.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,645 shares of company stock worth $657,259. 10.09% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its holdings in shares of UMB Financial by 14.2% during the 3rd quarter. Wells Fargo & Company MN now owns 954,508 shares of the bank’s stock worth $71,101,000 after buying an additional 118,896 shares during the period. Legal & General Group Plc increased its position in shares of UMB Financial by 8.5% during the 3rd quarter. Legal & General Group Plc now owns 51,582 shares of the bank’s stock worth $3,844,000 after purchasing an additional 4,061 shares in the last quarter. Crestline Management LP acquired a new stake in shares of UMB Financial during the 3rd quarter worth about $2,533,000. Russell Investments Group Ltd. increased its position in shares of UMB Financial by 8.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 226,007 shares of the bank’s stock worth $16,835,000 after purchasing an additional 17,540 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in UMB Financial in the 3rd quarter valued at about $298,000. 82.88% of the stock is owned by institutional investors and hedge funds.
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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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