Zacks Investment Research Upgrades UMB Financial (UMBF) to “Hold”

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UMB Financial (NASDAQ:UMBF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Shares of UMB Financial Corporation have underperformed the industry over the past six months. It possesses a decent earnings surprise history, beating the Zacks Consensus Estimate in three of the trailing four quarters. The company remains committed to drive operating efficiency through several strategic objectives including improvement in revenues, capital management and investment in technology. Also, a strong capital position keeps it well poised to undertake any opportunistic expansions. Moreover, the improving economic backdrop is likely to boost organic growth of the company. However, persistently rising cost base remains a key headwind. Further, intense competition from other fintech companies and online service providers is an added concern.”

Other research analysts also recently issued research reports about the stock. ValuEngine upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. BidaskClub upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Finally, Stephens restated a “hold” rating and set a $85.00 price objective on shares of UMB Financial in a report on Wednesday, May 23rd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $81.50.

UMBF opened at $74.73 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.67 and a current ratio of 0.67. UMB Financial has a 1-year low of $62.27 and a 1-year high of $82.14. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 1.57 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, July 24th. The bank reported $1.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.02). UMB Financial had a return on equity of 9.94% and a net margin of 25.18%. The business had revenue of $250.52 million for the quarter, compared to analyst estimates of $264.19 million. During the same quarter in the previous year, the company posted $0.90 EPS. equities research analysts anticipate that UMB Financial will post 4.6 earnings per share for the current year.

In other news, Director Timothy R. Murphy bought 1,500 shares of the stock in a transaction dated Tuesday, June 5th. The stock was bought at an average price of $77.85 per share, for a total transaction of $116,775.00. Following the completion of the acquisition, the director now directly owns 7,635 shares in the company, valued at approximately $594,384.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman J Mariner Kemper sold 400 shares of the stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $77.61, for a total transaction of $31,044.00. Following the completion of the sale, the chairman now owns 189,660 shares of the company’s stock, valued at approximately $14,719,512.60. The disclosure for this sale can be found here. In the last quarter, insiders bought 2,330 shares of company stock valued at $179,595 and sold 19,214 shares valued at $1,464,183. Corporate insiders own 10.26% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of UMB Financial by 10.6% in the second quarter. Bank of New York Mellon Corp now owns 930,028 shares of the bank’s stock valued at $70,896,000 after purchasing an additional 88,848 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of UMB Financial by 1,949.7% in the second quarter. Public Employees Retirement System of Ohio now owns 19,718 shares of the bank’s stock valued at $1,503,000 after purchasing an additional 18,756 shares during the last quarter. WINTON GROUP Ltd bought a new position in UMB Financial during the second quarter valued at about $7,120,000. Nomura Holdings Inc. bought a new position in UMB Financial during the second quarter valued at about $226,000. Finally, California Public Employees Retirement System grew its position in UMB Financial by 24.6% during the second quarter. California Public Employees Retirement System now owns 105,770 shares of the bank’s stock valued at $8,063,000 after buying an additional 20,902 shares during the period. Institutional investors own 89.32% of the company’s stock.

UMB Financial Company Profile

UMB Financial Corporation, a bank holding company, provides various banking and other financial services. It operates through two segments, Bank and Asset Servicing. The Bank segment offers a range of banking services to commercial, retail, government, and correspondent bank customers through its branches, call center, Internet banking, and ATM network.

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