Piper Jaffray Companies restated their neutral rating on shares of UMB Financial Corporation (NASDAQ:UMBF) in a report issued on Friday, October 6th, Marketbeat reports. They currently have a $74.00 price target on the bank’s stock.
Several other research analysts also recently issued reports on the company. BidaskClub downgraded 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 price target on UMB Financial Corporation and gave the stock a hold rating in a research note on Wednesday, July 26th. Zacks Investment Research raised shares of UMB Financial Corporation from a hold rating to a buy rating and set a $85.00 target price for the company in a research note on Friday, July 7th. Raymond James Financial, Inc. raised shares of UMB Financial Corporation from a market perform rating to an outperform rating in a research note on Thursday, August 10th. Finally, UBS AG raised shares of UMB Financial Corporation from a market perform rating to an outperform rating in a research note on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $77.20.
Shares of UMB Financial Corporation (NASDAQ:UMBF) opened at 74.26 on Friday. The firm’s 50-day moving average is $70.28 and its 200-day moving average is $71.87. The company has a market cap of $3.71 billion, a PE ratio of 21.46 and a beta of 0.89. UMB Financial Corporation has a one year low of $59.70 and a one year high of $81.55.
UMB Financial Corporation (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, July 25th. The bank reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $247.70 million during the quarter, compared to analysts’ expectations of $261.84 million. UMB Financial Corporation had a net margin of 16.59% and a return on equity of 8.81%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business earned $0.76 earnings per share. On average, equities analysts anticipate that UMB Financial Corporation will post $3.60 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.37%. The ex-dividend date was Thursday, September 7th. UMB Financial Corporation’s dividend payout ratio is currently 29.39%.
In other news, Director Timothy R. Murphy purchased 1,500 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was bought at an average cost of $67.50 per share, with a total value of $101,250.00. Following the purchase, the director now directly owns 4,049 shares of the company’s stock, valued at $273,307.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.09% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in shares of UMB Financial Corporation by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 988,794 shares of the bank’s stock valued at $74,022,000 after acquiring an additional 52,788 shares in the last quarter. Prudential Financial Inc. grew its holdings in UMB Financial Corporation by 56.1% in the 1st quarter. Prudential Financial Inc. now owns 52,875 shares of the bank’s stock valued at $3,982,000 after buying an additional 19,010 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of UMB Financial Corporation by 8.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 217,017 shares of the bank’s stock worth $16,344,000 after purchasing an additional 16,375 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in shares of UMB Financial Corporation by 33.6% during the 2nd quarter. Eagle Asset Management Inc. now owns 789,143 shares of the bank’s stock worth $59,075,000 after purchasing an additional 198,343 shares in the last quarter. Finally, Keybank National Association OH grew its holdings in shares of UMB Financial Corporation by 19.6% during the 2nd quarter. Keybank National Association OH now owns 23,200 shares of the bank’s stock worth $1,737,000 after purchasing an additional 3,800 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.
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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