UMB Financial (NASDAQ: UMBF – Get a rating) had its target price reduced by Raymond James from $113.00 to $108.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s shares. Raymond James’ price target indicates a potential upside of 21.36% from the stock’s previous close.
Several other equity research analysts have also recently weighed in on UMBF. StockNews.com upgraded UMB Financial from a “sell” to a “hold” rating in a Sunday May 1 research report. Wells Fargo & Company lowered its price target on UMB Financial from $110.00 to $100.00 in a Thursday, April 28 research report.
Shares of UMB Financial Action opened at $88.99 on Thursday. The company’s 50-day simple moving average is $88.77 and its two-hundred-day simple moving average is $96.58. The company has a market capitalization of $4.31 billion, a price-earnings ratio of 11.85 and a beta of 0.92. UMB Financial has a 12-month low of $81.57 and a 12-month high of $112.24. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt ratio of 0.10.
UMB Financial (NASDAQ: UMBF – Get a rating) last reported results on Tuesday, April 26. The bank reported earnings per share (EPS) of $2.17 for the quarter, beating analyst consensus estimates of $1.65 by $0.52. UMB Financial achieved a return on equity of 12.16% and a net margin of 26.95%. The company posted revenue of $340.43 million in the quarter, versus analyst estimates of $332.57 million. In the same quarter last year, the company posted EPS of $1.91. On average, sell-side analysts expect UMB Financial to post an EPS of 8.17 for the current fiscal year.
Several institutional investors and hedge funds have recently increased or reduced their stake in the stock. Allspring Global Investments Holdings LLC acquired a new stock position in UMB Financial during the fourth quarter worth approximately $179,610,000. State Street Corp increased its position in UMB Financial shares by 81.2% in the first quarter. State Street Corp now owns 3,708,145 shares of the bank valued at $361,563,000 after buying an additional 1,661,449 shares last quarter. UMB Bank NA MO increased its stake in UMB Financial by 21.5% during the fourth quarter. UMB Bank NA MO now owns 5,957,224 shares in the bank worth $632,121,000 after purchasing an additional 1,055,926 shares in the last quarter. Millennium Management LLC increased its stake in UMB Financial shares by 192.7% in the 4th quarter. Millennium Management LLC now owns 392,069 shares of the bank worth $41,602,000 after acquiring 258,108 additional shares in the last quarter. Finally, Boston Trust Walden Corp increased its stake in UMB Financial shares by 34.5% during the 1st quarter. Boston Trust Walden Corp now owns 822,596 shares of the bank worth $79,924,000 after acquiring an additional 211,067 shares during the period. Hedge funds and other institutional investors own 87.26% of the company’s shares.
About UMB Financial (Get a rating)
UMB Financial Corporation operates as a bank holding company for UMB bank which provides various banking and other financial services. The Commercial Banking segment provides commercial loans and credit cards; commercial real estate financing; letter of credit; loan syndication and advisory service; various business solutions, including asset-based lending, accounts receivable financing, mezzanine debt and minority equity investments; and cash management service, such as deposit service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic funds transfer and automated payment, controlled disbursement, vault service and input service remote filing.
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