UMB Financial’s (UMBF) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of UMB Financial (NASDAQ:UMBF) in a research note issued to investors on Friday morning,Benzinga reports. Piper Sandler currently has a $137.00 target price on the bank’s stock, up from their prior target price of $132.00.

A number of other research firms have also commented on UMBF. Bank of America initiated coverage on shares of UMB Financial in a research note on Wednesday, April 16th. They issued a “buy” rating and a $105.00 price objective on the stock. Morgan Stanley lowered their price objective on UMB Financial from $156.00 to $146.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Royal Bank of Canada cut their target price on UMB Financial from $128.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday. StockNews.com upgraded UMB Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 3rd. Finally, Wells Fargo & Company raised their price objective on shares of UMB Financial from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $120.38.

UMB Financial Stock Performance

UMB Financial stock opened at $100.34 on Friday. The business has a 50 day moving average of $97.84 and a 200-day moving average of $110.13. The company has a market capitalization of $7.62 billion, a P/E ratio of 11.16 and a beta of 0.71. UMB Financial has a 1 year low of $78.56 and a 1 year high of $129.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.37. The firm had revenue of $563.84 million during the quarter, compared to analysts’ expectations of $555.79 million. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. The company’s revenue was up 41.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.47 EPS. On average, equities research analysts predict that UMB Financial will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial’s dividend payout ratio (DPR) is 20.13%.

Insider Transactions at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 3,500 shares of UMB Financial stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $108.61, for a total transaction of $380,135.00. Following the transaction, the chief executive officer now owns 334,347 shares of the company’s stock, valued at $36,313,427.67. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.45% of the company’s stock.

Hedge Funds Weigh In On UMB Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its position in UMB Financial by 278.8% in the third quarter. Barclays PLC now owns 231,482 shares of the bank’s stock worth $24,329,000 after acquiring an additional 170,375 shares during the period. Principal Financial Group Inc. increased its stake in shares of UMB Financial by 403.7% during the 3rd quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock worth $91,114,000 after purchasing an additional 694,751 shares during the last quarter. Ellenbecker Investment Group bought a new stake in shares of UMB Financial in the 4th quarter worth approximately $212,000. Assenagon Asset Management S.A. purchased a new position in UMB Financial in the fourth quarter valued at approximately $1,443,000. Finally, Park Avenue Securities LLC bought a new position in UMB Financial during the fourth quarter valued at $284,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

About UMB Financial

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.