Zacks: Analysts Anticipate UMB Financial Corporation (NASDAQ:UMBF) Will Announce Earnings of $0.95 Per Share
Brokerages predict that UMB Financial Corporation (NASDAQ:UMBF) will announce earnings per share (EPS) of $0.95 for the current quarter, Zacks reports. Three analysts have made estimates for UMB Financial Corporation’s earnings, with estimates ranging from $0.90 to $1.00. UMB Financial Corporation reported earnings per share of $0.87 in the same quarter last year, which suggests a positive year-over-year growth rate of 9.2%. The firm is expected to announce its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that UMB Financial Corporation will report full year earnings of $3.67 per share for the current fiscal year, with EPS estimates ranging from $3.60 to $3.77. For the next year, analysts anticipate that the business will post earnings of $4.04 per share, with EPS estimates ranging from $4.00 to $4.10. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover UMB Financial Corporation.
UMB Financial Corporation (NASDAQ:UMBF) last announced its earnings results on Tuesday, July 25th. The bank reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by $0.02. UMB Financial Corporation had a return on equity of 8.81% and a net margin of 16.59%. The business had revenue of $247.70 million for the quarter, compared to analyst estimates of $261.84 million. During the same quarter last year, the company posted $0.76 EPS. UMB Financial Corporation’s quarterly revenue was up 10.6% on a year-over-year basis.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of UMB Financial Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. BidaskClub lowered shares of UMB Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Stephens set a $71.00 target price on shares of UMB Financial Corporation and gave the company a “hold” rating in a research note on Wednesday, July 26th. Finally, FBR & Co reissued a “hold” rating and set a $82.00 target price (up from $80.00) on shares of UMB Financial Corporation in a research note on Friday, April 21st. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $78.20.
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Shares of UMB Financial Corporation (UMBF) traded up 0.65% during midday trading on Wednesday, hitting $70.19. 130,410 shares of the stock traded hands. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 20.28 and a beta of 0.86. The firm has a 50-day moving average price of $73.55 and a 200 day moving average price of $74.55. UMB Financial Corporation has a one year low of $54.39 and a one year high of $81.55.
UMB Financial Corporation declared that its board has initiated a share repurchase plan on Tuesday, April 25th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other UMB Financial Corporation news, Director Alexander C. Kemper sold 2,500 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $74.65, for a total transaction of $186,625.00. Following the completion of the transaction, the director now directly owns 11,309 shares of the company’s stock, valued at approximately $844,216.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman J Mariner Kemper sold 21,600 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $75.17, for a total transaction of $1,623,672.00. Following the transaction, the chairman now directly owns 186,373 shares of the company’s stock, valued at $14,009,658.41. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 2,300 shares of company stock valued at $162,044 and have sold 36,491 shares valued at $2,729,550. Insiders own 10.09% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of UMBF. Miles Capital Inc. raised its stake in shares of UMB Financial Corporation by 0.3% in the first quarter. Miles Capital Inc. now owns 2,951 shares of the bank’s stock worth $222,000 after buying an additional 8 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of UMB Financial Corporation by 0.8% in the first quarter. Capstone Asset Management Co. now owns 3,833 shares of the bank’s stock worth $289,000 after buying an additional 30 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in shares of UMB Financial Corporation by 0.5% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 7,554 shares of the bank’s stock worth $569,000 after buying an additional 37 shares in the last quarter. Isthmus Partners LLC raised its stake in shares of UMB Financial Corporation by 0.3% in the first quarter. Isthmus Partners LLC now owns 11,058 shares of the bank’s stock worth $833,000 after buying an additional 38 shares in the last quarter. Finally, World Asset Management Inc raised its stake in shares of UMB Financial Corporation by 1.6% in the second quarter. World Asset Management Inc now owns 2,769 shares of the bank’s stock worth $207,000 after buying an additional 43 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.
About UMB Financial Corporation
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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