UMB Financial (NASDAQ:UMBF) Stock Rating Upgraded by Raymond James Financial

UMB Financial (NASDAQ:UMBF) was upgraded by research analysts at Raymond James Financial to a “moderate buy” rating in a report released on Thursday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Morgan Stanley raised their price target on UMB Financial from $143.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Zacks Research cut shares of UMB Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. initiated coverage on shares of UMB Financial in a research note on Thursday, August 20th. They set an “overweight” rating and a $180.00 price objective on the stock. Hovde Group raised their target price on shares of UMB Financial from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of UMB Financial in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.54.

UMB Financial Trading Up 0.0%

Shares of UMBF stock opened at $144.59 on Thursday. The stock has a market cap of $10.98 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.71 and a beta of 0.77. UMB Financial has a 1 year low of $103.38 and a 1 year high of $153.32. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $144.86 and a 200 day simple moving average of $130.85.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.45. The firm had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $727.63 million. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.During the same period in the previous year, the firm earned $2.96 EPS. On average, research analysts predict that UMB Financial will post 13.48 earnings per share for the current fiscal year.

Insider Buying and Selling at UMB Financial

In related news, insider Robert Brian Beaird sold 1,600 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $144.40, for a total transaction of $231,040.00. Following the sale, the insider owned 8,943 shares of the company’s stock, valued at $1,291,369.20. This trade represents a 15.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nikki Farentino Newton sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total value of $297,200.00. Following the completion of the transaction, the insider directly owned 11,981 shares of the company’s stock, valued at approximately $1,780,376.60. The trade was a 14.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 34,171 shares of company stock worth $4,919,826 over the last 90 days. 5.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in UMB Financial by 13,612.7% during the 2nd quarter. California State Teachers Retirement System now owns 11,954,437 shares of the bank’s stock worth $1,706,615,000 after acquiring an additional 11,867,259 shares during the last quarter. BlackRock Inc. acquired a new position in shares of UMB Financial during the second quarter worth $1,458,386,000. UMB Bank n.a. grew its stake 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 purchasing an additional 493,875 shares during the last quarter. State Street Corp grew its stake in shares of UMB Financial by 7.9% in the second quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock worth $453,461,000 after purchasing an additional 313,414 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in UMB Financial by 32.0% in the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock valued at $366,743,000 after purchasing an additional 751,525 shares during the period. Institutional investors and hedge funds 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.