Wall Street brokers predict that UMB Financial Co. (NASDAQ: UMBF – Get a rating) will report $332.53 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have released earnings estimates for UMB Financial, with the lowest sales estimate of $327.20 million and the highest estimate of $340.00 million. UMB Financial reported sales of $309.69 million in the same quarter last year, suggesting a positive year-over-year growth rate of 7.4%. The company is expected to release its next quarterly results after the market closes on Monday, January 1.
According to Zacks, analysts expect UMB Financial to report annual sales of $1.39 billion for the current fiscal year, with estimates ranging from $1.35 billion to $1.42 billion. For the next fiscal year, analysts expect the company to record sales of $1.49 billion, with estimates ranging from $1.44 billion to $1.52 billion. Zacks Investment Research sales averages are an average based on a survey of research companies that cover UMB Financial.
UMB Financial (NASDAQ: UMBF – Get a rating) last announced its quarterly results on Tuesday, January 25. The bank reported earnings per share (EPS) of $1.62 for the quarter, missing analyst consensus estimates of $1.87 per ($0.25). UMB Financial achieved a net margin of 26.57% and a return on equity of 11.52%. The company posted revenue of $329.35 million for the quarter, compared to $328.87 million expected by analysts. During the same period of the previous year, the company achieved EPS of $3.26. The company’s revenues were down 22.1% from the same quarter last year.
UMBF has been the subject of a number of recent analyst reports. Raymond James raised his price target on UMB Financial shares from $110.00 to $120.00 and gave the stock an “outperform” rating in a Friday, March 18 research note. StockNews.com upgraded UMB Financial shares from a “sell” to a “hold” rating in a Tuesday, April 5 research report. Janney Montgomery Scott upgraded UMB Financial shares from a “neutral” rating to a “buy” rating and set a price target of $115.00 on the stock in a research report on Tuesday, December 21. Finally, Wells Fargo & Company reduced shares of UMB Financial from an “overweight” rating to an “equal weight” rating and reduced its price target for the company from $115.00 to $110.00 in a research report of Tuesday, January 4. One financial analyst has assigned the stock a sell rating, two have issued a hold rating and two have assigned the stock a buy rating. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $111.00.
Shares of NASDAQ: UMBF opened at $94.01 on Tuesday. The company’s 50-day moving average price is $99.89 and its 200-day moving average price is $102.21. UMB Financial has a 12-month low of $84.21 and a 12-month high of $112.24. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt ratio of 0.09. The stock has a market capitalization of $4.55 billion, a PE ratio of 12.97 and a beta of 0.94.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 1. Shareholders of record on Thursday, March 10 received a dividend of $0.37 per share. This represents an annualized dividend of $1.48 and a yield of 1.57%. The ex-dividend date was Wednesday, March 9. UMB Financial’s payout ratio is 20.41%.
In other news from UMB Financial, Director Timothy R. Murphy purchased 1,000 shares of the company in a trade dated Tuesday, February 1. The shares were acquired at an average cost of $98.44 per share, for a total transaction of $98,440.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. Also, VPE Jacques Cornelius sold 818 UMB Financial shares in a trade on Friday, February 4. The stock was sold at an average price of $103.64, for a total value of $84,777.52. Disclosure of this sale can be found here. Insiders sold 12,118 shares of the company valued at $1,236,214 in the past ninety days. 9.77% of the shares are held by insiders.
Several large investors have recently increased or reduced their stake in UMBF. Allspring Global Investments Holdings LLC purchased a new stake in UMB Financial stock in the fourth quarter worth approximately $179,610,000. UMB Bank NA MO increased its equity stake in UMB Financial by 21.5% in the fourth quarter. UMB Bank NA MO now owns 5,957,224 shares of the bank valued at $632,121,000 after acquiring an additional 1,055,926 shares last quarter. Norges Bank bought a new stake in shares of UMB Financial in the fourth quarter, valued at approximately $42,623,000. Wellington Management Group LLP increased its holdings of UMB Financial shares by 32.9% in the third quarter. Wellington Management Group LLP now owns 1,256,245 shares of the bank valued at $121,491,000 after acquiring an additional 311,179 shares last quarter. Finally, Eaton Vance Management increased its stake in UMB Financial shares by 103,761.1% in the third quarter. Eaton Vance Management now owns 296,004 shares of the bank valued at $28,597,000 after acquiring an additional 295,719 shares last quarter. Institutional investors and hedge funds hold 86.70% 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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