Posted by Defense World Staff on Mar 10th, 2024
Analysts at Barclays began coverage on shares of UMB Financial (NASDAQ:UMBF – Get Free Report) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm set an “equal weight” rating and a $91.00 price target on the bank’s stock. Barclays‘s price target would suggest a potential upside of 9.81% from the company’s previous close.
Other equities analysts have also issued research reports about the company. StockNews.com raised UMB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Piper Sandler boosted their price objective on UMB Financial from $87.50 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, Raymond James boosted their price objective on UMB Financial from $80.00 to $102.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $84.17.
Check Out Our Latest Stock Report on UMBF
UMB Financial Trading Down 0.5 %
Shares of NASDAQ UMBF opened at $82.87 on Friday. UMB Financial has a one year low of $50.68 and a one year high of $86.24. The firm has a market capitalization of $4.04 billion, a PE ratio of 11.54 and a beta of 0.82. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $81.28 and a two-hundred day moving average price of $72.75.
UMB Financial (NASDAQ:UMBF – Get Free Report) last posted its earnings results on Wednesday, January 31st. The bank reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.53. The firm had revenue of $370.80 million during the quarter, compared to analyst estimates of $360.69 million. UMB Financial had a return on equity of 13.75% and a net margin of 14.70%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the company earned $2.06 EPS. As a group, analysts predict that UMB Financial will post 7.29 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Kevin Charles Gallagher sold 625 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $80.21, for a total transaction of $50,131.25. Following the sale, the director now owns 12,859 shares in the company, valued at approximately $1,031,420.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Robert Brian Beaird sold 895 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $83.80, for a total transaction of $75,001.00. Following the sale, the insider now owns 5,827 shares in the company, valued at approximately $488,302.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kevin Charles Gallagher sold 625 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $80.21, for a total value of $50,131.25. Following the sale, the director now owns 12,859 shares in the company, valued at approximately $1,031,420.39. The disclosure for this sale can be found here. Insiders have sold 6,460 shares of company stock worth $530,477 in the last 90 days. Insiders own 9.77% of the company’s stock.
Institutional Trading of UMB Financial
Institutional investors and hedge funds have recently modified their holdings of the stock. UBS Group AG raised its stake in shares of UMB Financial by 198.1% in the third quarter. UBS Group AG now owns 60,911 shares of the bank’s stock worth $3,780,000 after purchasing an additional 40,479 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of UMB Financial by 8.2% in the third quarter. Victory Capital Management Inc. now owns 1,731,904 shares of the bank’s stock worth $107,465,000 after purchasing an additional 131,926 shares during the last quarter. MQS Management LLC purchased a new stake in shares of UMB Financial in the third quarter worth approximately $217,000. Northern Trust Corp raised its stake in shares of UMB Financial by 16.9% in the second quarter. Northern Trust Corp now owns 651,035 shares of the bank’s stock worth $39,648,000 after purchasing an additional 94,024 shares during the last quarter. Finally, Kavar Capital Partners Group LLC increased its position in shares of UMB Financial by 2.8% during the third quarter. Kavar Capital Partners Group LLC now owns 7,302 shares of the bank’s stock valued at $453,000 after acquiring an additional 200 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.
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 disbursem*nt, lockbox service, and remote deposit capture service.
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