StockNews.com Downgrades UMB Financial (NASDAQ:UMBF) to Sell

StockNews.com cut shares of UMB Financial (NASDAQ:UMBF) from a hold rating to a sell rating in a report published on Friday morning.

A number of other brokerages have also commented on UMBF. Piper Sandler raised their price objective on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley started coverage on shares of UMB Financial in a report on Thursday, November 21st. They set an “overweight” rating and a $156.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Citigroup started coverage on shares of UMB Financial in a report on Thursday, October 10th. They set a “buy” rating and a $127.00 price objective on the stock. Finally, Barclays raised their price objective on shares of UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, UMB Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

UMB Financial Trading Up 2.1 %

Shares of NASDAQ UMBF opened at $127.60 on Friday. The company’s fifty day moving average is $110.81 and its 200-day moving average is $97.47. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 16.12 and a beta of 0.78. UMB Financial has a twelve month low of $69.96 and a twelve month high of $129.94. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.05. The company had revenue of $716.44 million for the quarter, compared to analysts’ expectations of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same period last year, the firm posted $2.02 earnings per share. Equities research analysts predict that UMB Financial will post 9.21 EPS for the current year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Tuesday, December 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s dividend payout ratio is presently 20.00%.

Insider Transactions at UMB Financial

In other news, Director Greg M. Graves purchased 258 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $109.29 per share, with a total value of $28,196.82. Following the acquisition, the director now owns 36,244 shares in the company, valued at approximately $3,961,106.76. The trade was a 0.72 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO J Mariner Kemper sold 24,300 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the sale, the chief executive officer now directly owns 1,600,904 shares of the company’s stock, valued at approximately $162,988,036.24. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,303 shares of company stock valued at $5,830,165. Company insiders own 8.85% of the company’s stock.

Hedge Funds Weigh In On UMB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in UMB Financial in the 3rd quarter valued at approximately $26,000. Covestor Ltd lifted its stake in UMB Financial by 31.0% in the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after purchasing an additional 102 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of UMB Financial during the third quarter valued at $83,000. Acropolis Investment Management LLC bought a new position in shares of UMB Financial during the third quarter valued at $156,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of UMB Financial during the second quarter valued at $128,000. 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.