UMB Financial (NASDAQ:UMBF – Get Free Report) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
A number of other equities analysts also recently weighed in on the stock. Royal Bank of Canada started coverage on shares of UMB Financial in a report on Friday, November 22nd. They issued a “sector perform” rating and a $130.00 price target on the stock. Morgan Stanley began coverage on shares of UMB Financial in a research note on Thursday, November 21st. They issued an “overweight” rating and a $156.00 target price on the stock. Wells Fargo & Company raised their price target on shares of UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Barclays upped their price objective on UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Citigroup initiated coverage on UMB Financial in a research report on Thursday, October 10th. They issued a “buy” rating and a $127.00 target price for the company. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.63.
Get Our Latest Analysis on UMB Financial
UMB Financial Trading Down 1.8 %
UMB Financial (NASDAQ:UMBF – Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same quarter in the prior year, the business earned $2.29 earnings per share. Research analysts anticipate that UMB Financial will post 9.23 EPS for the current fiscal year.
Insider Activity
In other news, CEO J Mariner Kemper sold 24,300 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $124.95, for a total transaction of $3,036,285.00. Following the completion of the transaction, the chief executive officer now owns 1,552,304 shares of the company’s stock, valued at approximately $193,960,384.80. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Brian Beaird sold 854 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $123.38, for a total transaction of $105,366.52. Following the completion of the sale, the insider now directly owns 5,828 shares in the company, valued at $719,058.64. This represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.85% of the stock is owned by company insiders.
Hedge Funds Weigh In On UMB Financial
A number of institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in shares of UMB Financial by 403.7% during the 3rd quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock worth $91,114,000 after acquiring an additional 694,751 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in UMB Financial during the third quarter valued at about $48,531,000. Captrust Financial Advisors lifted its stake in UMB Financial by 258.0% during the third quarter. Captrust Financial Advisors now owns 392,397 shares of the bank’s stock worth $41,245,000 after purchasing an additional 282,783 shares during the last quarter. Systematic Financial Management LP boosted its holdings in shares of UMB Financial by 438.8% in the 3rd quarter. Systematic Financial Management LP now owns 320,550 shares of the bank’s stock worth $33,693,000 after purchasing an additional 261,055 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in shares of UMB Financial during the 3rd quarter valued at about $18,838,000. Institutional investors own 87.78% of the company’s stock.
UMB Financial Company Profile
UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.
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