UMB Financial (UMBF) Downgraded to “Neutral” at Bank of America

Bank of America lowered shares of UMB Financial (NASDAQ:UMBF) from a buy rating to a neutral rating in a research note released on Thursday morning, Marketbeat reports.

Other equities research analysts have also recently issued reports about the stock. Raymond James set a $69.00 price target on shares of UMB Financial and gave the company a buy rating in a research report on Thursday, October 25th. Stephens reiterated a hold rating and set a $80.00 price target on shares of UMB Financial in a research report on Wednesday, October 24th. BidaskClub upgraded shares of UMB Financial from a sell rating to a hold rating in a research report on Friday, October 5th. Wells Fargo & Co set a $70.00 price target on shares of UMB Financial and gave the company a hold rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research upgraded shares of UMB Financial from a sell rating to a hold rating in a research report on Thursday, September 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $77.00.

Shares of UMBF opened at $64.02 on Thursday. UMB Financial has a 1-year low of $57.00 and a 1-year high of $82.14. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.71 and a beta of 0.90. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.04.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, October 23rd. The bank reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. UMB Financial had a net margin of 25.52% and a return on equity of 10.22%. The business had revenue of $251.38 million during the quarter, compared to analysts’ expectations of $260.02 million. During the same period last year, the business earned $0.98 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts predict that UMB Financial will post 4.57 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 10th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, December 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.87%. This is a boost from UMB Financial’s previous quarterly dividend of $0.29. UMB Financial’s payout ratio is 32.00%.

In related news, insider Thomas S. Terry sold 1,602 shares of UMB Financial stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $65.23, for a total value of $104,498.46. Following the completion of the transaction, the insider now owns 28,948 shares in the company, valued at $1,888,278.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shannon Andresen Johnson sold 470 shares of UMB Financial stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $65.34, for a total transaction of $30,709.80. Following the completion of the transaction, the executive vice president now owns 10,135 shares of the company’s stock, valued at approximately $662,220.90. The disclosure for this sale can be found here. Insiders sold 2,611 shares of company stock valued at $170,238 in the last 90 days. Company insiders own 10.26% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its stake in UMB Financial by 1.4% in the third quarter. Legal & General Group Plc now owns 54,752 shares of the bank’s stock worth $3,882,000 after acquiring an additional 748 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in UMB Financial by 13.1% in the third quarter. Xact Kapitalforvaltning AB now owns 6,930 shares of the bank’s stock worth $491,000 after acquiring an additional 800 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in UMB Financial by 20.5% in the third quarter. Riverhead Capital Management LLC now owns 4,700 shares of the bank’s stock worth $333,000 after acquiring an additional 800 shares during the last quarter. Diversified Trust Co lifted its stake in UMB Financial by 21.1% in the third quarter. Diversified Trust Co now owns 4,600 shares of the bank’s stock worth $326,000 after acquiring an additional 800 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in UMB Financial by 0.9% in the third quarter. The Manufacturers Life Insurance Company now owns 102,143 shares of the bank’s stock worth $7,242,000 after acquiring an additional 939 shares during the last quarter. Hedge funds and other institutional investors own 87.82% of the company’s stock.

About UMB Financial

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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