UMB Financial Corporation (NASDAQ:UMBF) Rating Increased to Outperform at UBS AG
UMB Financial Corporation (NASDAQ:UMBF) was upgraded by analysts at UBS AG from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, The Fly reports.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of UMB Financial Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. BidaskClub lowered shares of UMB Financial Corporation from a “sell” rating to a “strong sell” rating in a report 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 report on Wednesday, July 26th. Finally, FBR & Co reiterated a “hold” rating and set a $82.00 target price (up from $80.00) on shares of UMB Financial Corporation in a report on Friday, April 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. UMB Financial Corporation presently has an average rating of “Hold” and an average price target of $78.20.
Shares of UMB Financial Corporation (NASDAQ UMBF) opened at 69.12 on Thursday. UMB Financial Corporation has a 52 week low of $56.29 and a 52 week high of $81.55. The stock has a market capitalization of $3.41 billion, a P/E ratio of 19.97 and a beta of 0.86. The stock has a 50 day moving average price of $72.76 and a 200 day moving average price of $74.40.
UMB Financial Corporation (NASDAQ:UMBF) last released its earnings results on Tuesday, July 25th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by $0.02. UMB Financial Corporation had a net margin of 16.59% and a return on equity of 8.81%. The business had revenue of $247.70 million for the quarter, compared to analysts’ expectations of $261.84 million. During the same quarter in the previous year, the business posted $0.76 earnings per share. UMB Financial Corporation’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts expect that UMB Financial Corporation will post $3.65 EPS for the current year.
UMB Financial Corporation declared that its Board of Directors has authorized a share repurchase program on Tuesday, April 25th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Michael D. Hagedorn sold 3,125 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $74.54, for a total value of $232,937.50. Following the completion of the transaction, the insider now directly owns 66,743 shares in the company, valued at approximately $4,975,023.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman J Mariner Kemper sold 21,600 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $75.17, for a total transaction of $1,623,672.00. Following the completion of the transaction, the chairman now 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 90 days, insiders purchased 2,300 shares of company stock valued at $162,044 and sold 27,225 shares valued at $2,043,235. 10.09% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of UMB Financial Corporation by 5.0% in the second quarter. JPMorgan Chase & Co. now owns 563,101 shares of the bank’s stock worth $42,154,000 after buying an additional 26,996 shares during the last quarter. Nuance Investments LLC purchased a new position in shares of UMB Financial Corporation during the second quarter worth $3,102,000. Swiss National Bank raised its position in shares of UMB Financial Corporation by 1.6% in the second quarter. Swiss National Bank now owns 70,800 shares of the bank’s stock worth $5,300,000 after buying an additional 1,100 shares during the last quarter. Eagle Asset Management Inc. raised its position in shares of UMB Financial Corporation by 33.6% in the second quarter. Eagle Asset Management Inc. now owns 789,143 shares of the bank’s stock worth $59,075,000 after buying an additional 198,343 shares during the last quarter. Finally, Atwood & Palmer Inc. increased its stake in UMB Financial Corporation by 2,114.3% in the second quarter. Atwood & Palmer Inc. now owns 7,750 shares of the bank’s stock worth $580,000 after buying an additional 7,400 shares during the period. Institutional investors own 81.99% of the company’s stock.
UMB Financial Corporation 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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