Zacks Investment Research Upgrades UMB Financial (UMBF) to “Buy”

UMB Financial (NASDAQ:UMBF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The firm presently has a $87.00 target price on the bank’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.74% from the company’s previous close.

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 firms have also commented on UMBF. Stephens reiterated a “hold” rating and set a $85.00 price target on shares of UMB Financial in a report on Wednesday, May 23rd. BidaskClub upgraded UMB Financial from a “sell” rating to a “hold” rating in a report on Thursday, March 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $81.50.



Shares of UMBF opened at $77.86 on Friday. UMB Financial has a 52-week low of $62.27 and a 52-week high of $80.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, April 24th. The bank reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.13. UMB Financial had a net margin of 24.36% and a return on equity of 9.56%. The company had revenue of $253.45 million for the quarter, compared to analysts’ expectations of $257.41 million. During the same quarter in the previous year, the company posted $0.89 EPS. analysts forecast that UMB Financial will post 4.73 earnings per share for the current fiscal year.

In other news, insider Michael D. Hagedorn sold 8,855 shares of UMB Financial stock in a transaction on Friday, April 27th. The stock was sold at an average price of $77.13, for a total transaction of $682,986.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director L Joshua Sosland purchased 520 shares of UMB Financial stock in a transaction dated Wednesday, June 13th. The shares were bought at an average price of $77.48 per share, for a total transaction of $40,289.60. Following the acquisition, the director now owns 6,850 shares in the company, valued at $530,738. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 2,316 shares of company stock worth $179,596 and have sold 28,458 shares worth $2,197,011. 10.26% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in UMB Financial by 2.4% in the 1st quarter. BlackRock Inc. now owns 4,828,935 shares of the bank’s stock valued at $349,565,000 after buying an additional 111,197 shares during the period. American Century Companies Inc. raised its holdings in UMB Financial by 42.8% in the 1st quarter. American Century Companies Inc. now owns 1,559,097 shares of the bank’s stock valued at $112,863,000 after buying an additional 467,006 shares during the period. Dimensional Fund Advisors LP raised its holdings in UMB Financial by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,185,801 shares of the bank’s stock valued at $85,840,000 after buying an additional 32,859 shares during the period. Champlain Investment Partners LLC raised its holdings in UMB Financial by 3.5% in the 1st quarter. Champlain Investment Partners LLC now owns 1,111,290 shares of the bank’s stock valued at $80,446,000 after buying an additional 37,335 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in UMB Financial by 5.3% in the 1st quarter. Wells Fargo & Company MN now owns 1,064,339 shares of the bank’s stock valued at $77,047,000 after buying an additional 53,314 shares during the period. Hedge funds and other institutional investors own 86.45% of the company’s stock.

About UMB Financial

UMB Financial Corporation, a bank holding company, provides various banking and other financial services. It operates through two segments, Bank and Asset Servicing. The Bank segment offers a range of banking services to commercial, retail, government, and correspondent bank customers through its branches, call center, Internet banking, and ATM network.

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