Wells Fargo & Co upgraded shares of UMB Financial (NASDAQ:UMBF) from an underweight rating to an equal weight rating in a report released on Thursday, Briefing.com Automated Import reports. They currently have $52.00 target price on the bank’s stock.
Separately, BidaskClub cut UMB Financial from a hold rating to a sell rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $66.67.
Shares of NASDAQ:UMBF opened at $49.80 on Thursday. The firm has a fifty day moving average of $49.20 and a two-hundred day moving average of $53.39. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.03. UMB Financial has a 12-month low of $39.47 and a 12-month high of $70.26. The firm has a market capitalization of $2.40 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 4.49 and a beta of 1.04.
UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, July 28th. The bank reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.96. UMB Financial had a return on equity of 7.22% and a net margin of 14.62%. The business had revenue of $298.69 million during the quarter, compared to analyst estimates of $282.63 million. During the same period last year, the company earned $1.17 earnings per share. Equities research analysts expect that UMB Financial will post 2.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Wednesday, September 9th. UMB Financial’s dividend payout ratio is presently 24.85%.
In related news, CFO Ram Shankar purchased 782 shares of UMB Financial stock in a transaction on Friday, May 22nd. The stock was bought at an average price of $47.01 per share, with a total value of $36,761.82. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.24% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Royal Fund Management LLC acquired a new stake in shares of UMB Financial in the first quarter worth $36,000. Pearl River Capital LLC acquired a new position in UMB Financial during the 1st quarter worth $46,000. Advisor Group Holdings Inc. bought a new stake in UMB Financial during the first quarter valued at about $130,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of UMB Financial by 19.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,479 shares of the bank’s stock valued at $161,000 after purchasing an additional 558 shares during the last quarter. Finally, Strs Ohio grew its position in shares of UMB Financial by 16.2% in the first quarter. Strs Ohio now owns 4,300 shares of the bank’s stock valued at $199,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.
About UMB Financial
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. It operates through four segments: Commercial Banking, Institutional Banking, Personal Banking, and Healthcare Services. The Commercial Banking segment provides commercial loans, commercial credit cards, letters of credit, loan syndication services, consultative services, and various financial options; capital markets services, including asset-based financing, asset securitization, equity and mezzanine financing, factoring, and private and public placement of senior debt, as well as merger and acquisition consulting; and depository, account reconciliation, electronic fund transfer, controlled disbursements, lockbox, and remote deposit capture services.
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