Zacks Investment Research downgraded shares of UMB Financial (NASDAQ:UMBF) from a buy rating to a hold rating in a report released 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. “
Several other research analysts also recently commented on the stock. BidaskClub raised shares of UMB Financial from a sell rating to a hold rating in a report on Wednesday. Piper Jaffray Companies increased their price target on shares of UMB Financial from $78.00 to $79.00 and gave the company a neutral rating in a report on Friday, February 2nd. Finally, Wells Fargo & Co increased their price target on shares of UMB Financial from $71.00 to $75.00 and gave the company a market perform rating in a report on Thursday, January 25th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $77.83.
UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.95 EPS for the quarter, beating the consensus estimate of $0.93 by $0.02. UMB Financial had a net margin of 23.35% and a return on equity of 9.05%. The business had revenue of $252.38 million during the quarter, compared to the consensus estimate of $254.98 million. During the same quarter in the prior year, the firm earned $0.91 EPS. The business’s revenue was up 9.9% on a year-over-year basis. equities research analysts forecast that UMB Financial will post 4.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be issued a $0.29 dividend. This is an increase from UMB Financial’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.52%. UMB Financial’s dividend payout ratio (DPR) is presently 22.13%.
In related news, Chairman J Mariner Kemper sold 5,451 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $77.02, for a total value of $419,836.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin M. Macke sold 1,332 shares of the stock in a transaction dated Wednesday, November 29th. The shares were 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 ninety days, insiders sold 8,645 shares of company stock valued at $657,259. 10.09% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in UMBF. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of UMB Financial in the 3rd quarter valued at about $144,000. PNC Financial Services Group Inc. lifted its stake 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 purchasing an additional 129 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in UMB Financial by 50.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,411 shares of the bank’s stock worth $173,000 after purchasing an additional 807 shares during the last quarter. Zeke Capital Advisors LLC bought a new stake in UMB Financial in the fourth quarter worth about $202,000. Finally, Advisor Group Inc. lifted its stake in UMB Financial by 137.6% in the fourth quarter. Advisor Group Inc. now owns 2,892 shares of the bank’s stock worth $209,000 after purchasing an additional 1,675 shares during the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.
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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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