UMB Financial (NASDAQ:UMBF) Cut to Hold at Zacks Research

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

UMBF has been the subject of a number of other research reports. Citigroup boosted their target price on UMB Financial from $120.00 to $138.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Royal Bank Of Canada set a $134.00 target price on UMB Financial and gave the stock an “outperform” rating in a research report on Monday, January 12th. Barclays reaffirmed an “overweight” rating and set a $160.00 price objective on shares of UMB Financial in a research note on Thursday, January 29th. Keefe, Bruyette & Woods lifted their price objective on UMB Financial from $133.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $145.00 price objective on shares of UMB Financial in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $138.18.

UMB Financial Stock Up 0.6%

Shares of UMBF opened at $120.81 on Tuesday. The business’s 50 day simple moving average is $119.34 and its 200-day simple moving average is $116.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. UMB Financial has a one year low of $84.57 and a one year high of $136.11. The company has a market capitalization of $9.20 billion, a P/E ratio of 13.23, a PEG ratio of 0.97 and a beta of 0.75.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.37. UMB Financial had a return on equity of 12.14% and a net margin of 16.90%.The firm had revenue of $469.80 million during the quarter, compared to the consensus estimate of $677.30 million. During the same quarter in the previous year, the company posted $2.49 EPS. The business’s revenue for the quarter was up 66.0% compared to the same quarter last year. As a group, sell-side analysts predict that UMB Financial will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 10th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, March 10th. UMB Financial’s dividend payout ratio is currently 18.84%.

Insider Transactions at UMB Financial

In other news, Director Kevin Charles Gallagher sold 388 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $129.30, for a total transaction of $50,168.40. Following the completion of the transaction, the director directly owned 12,488 shares of the company’s stock, valued at $1,614,698.40. This represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Greg M. Graves acquired 220 shares of UMB Financial stock in a transaction dated Monday, February 2nd. The shares were purchased at an average cost of $127.83 per share, with a total value of $28,122.60. Following the completion of the transaction, the director directly owned 39,541 shares of the company’s stock, valued at $5,054,526.03. This trade represents a 0.56% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 19,102 shares of company stock valued at $2,458,247 over the last three months. Company insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of UMBF. UMB Bank n.a. raised its holdings in UMB Financial by 11.4% during 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 in the last quarter. State Street Corp raised its holdings in UMB Financial by 7.9% during the second quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock worth $453,461,000 after acquiring an additional 313,414 shares in the last quarter. Wellington Management Group LLP raised its holdings in UMB Financial by 32.0% during the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock worth $366,743,000 after acquiring an additional 751,525 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in UMB Financial by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,854,927 shares of the bank’s stock valued at $328,439,000 after buying an additional 22,100 shares during the period. Finally, Geode Capital Management LLC raised its stake in UMB Financial by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,907,978 shares of the bank’s stock valued at $219,529,000 after buying an additional 33,078 shares during the period. 87.78% of the stock is owned by institutional investors and hedge funds.

UMB Financial Company Profile

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.