UMB Financial (NASDAQ:UMBF) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of UMB Financial (NASDAQ:UMBF) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other research analysts have also recently weighed in on the stock. Hovde Group boosted their target price on shares of UMB Financial from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Citigroup lifted their price target on shares of UMB Financial from $138.00 to $144.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Truist Financial set a $140.00 price objective on UMB Financial in a research note on Friday, May 1st. Royal Bank Of Canada increased their price objective on UMB Financial from $138.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Finally, Weiss Ratings raised UMB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, UMB Financial currently has a consensus rating of “Moderate Buy” and an average price target of $148.09.

UMB Financial Trading Up 2.0%

NASDAQ UMBF opened at $145.65 on Tuesday. The business’s fifty day moving average is $131.39 and its 200-day moving average is $123.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $11.07 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 0.97 and a beta of 0.77. UMB Financial has a one year low of $103.38 and a one year high of $146.60.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.59. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. The company had revenue of $739.16 million during the quarter, compared to analyst estimates of $701.79 million. During the same quarter in the prior year, the business earned $2.58 earnings per share. The firm’s revenue for the quarter was up 31.1% on a year-over-year basis. Equities research analysts predict that UMB Financial will post 12.83 EPS for the current year.

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th were paid a $0.43 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $1.72 annualized dividend and a dividend yield of 1.2%. UMB Financial’s dividend payout ratio (DPR) is presently 15.26%.

Insider Activity at UMB Financial

In related news, President James D. Rine sold 8,246 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total value of $1,093,337.14. Following the completion of the transaction, the president directly owned 61,446 shares of the company’s stock, valued at approximately $8,147,125.14. This trade represents a 11.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Charles Gallagher sold 381 shares of UMB Financial stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $132.88, for a total transaction of $50,627.28. Following the completion of the transaction, the director owned 12,223 shares of the company’s stock, valued at $1,624,192.24. This represents a 3.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

Several institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. boosted its holdings in shares of UMB Financial by 11.4% in the fourth quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank’s stock worth $553,322,000 after acquiring an additional 493,875 shares during the period. State Street Corp raised its stake in shares of UMB Financial by 7.9% during the 2nd quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock valued at $453,461,000 after purchasing an additional 313,414 shares during the period. Wellington Management Group LLP lifted its holdings in UMB Financial by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock worth $366,743,000 after purchasing an additional 751,525 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in UMB Financial by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank’s stock worth $328,200,000 after purchasing an additional 55,005 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in UMB Financial by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,907,978 shares of the bank’s stock worth $219,529,000 after purchasing an additional 33,078 shares during the period. Hedge funds and other institutional investors own 87.78% of the company’s stock.

About UMB Financial

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.