UMB Financial (NASDAQ:UMBF – Get Free Report) has been given a $135.00 target price by stock analysts at Piper Sandler in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the bank’s stock. Piper Sandler’s target price indicates a potential upside of 32.72% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Truist Financial assumed coverage on UMB Financial in a research report on Tuesday, May 13th. They set a “buy” rating and a $120.00 target price for the company. Barclays dropped their price objective on shares of UMB Financial from $139.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Bank of America initiated coverage on UMB Financial in a research note on Wednesday, April 16th. They issued a “buy” rating and a $105.00 target price on the stock. Finally, Royal Bank of Canada cut their price target on UMB Financial from $128.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.88.
UMB Financial Stock Performance
UMB Financial (NASDAQ:UMBF – Get Free Report) last issued its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.37. The business had revenue of $563.84 million during the quarter, compared to the consensus estimate of $555.79 million. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. The firm’s revenue for the quarter was up 41.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 earnings per share. As a group, equities analysts anticipate that UMB Financial will post 9.66 EPS for the current fiscal year.
Insider Buying and Selling at UMB Financial
In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of UMB Financial stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the transaction, the chief executive officer now directly owns 288,945 shares of the company’s stock, valued at $29,417,490.45. The trade was a 1.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.45% of the company’s stock.
Hedge Funds Weigh In On UMB Financial
Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of UMB Financial by 54.0% during the first quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank’s stock valued at $741,342,000 after purchasing an additional 2,570,283 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of UMB Financial by 78.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank’s stock valued at $273,029,000 after purchasing an additional 1,185,671 shares during the last quarter. Wellington Management Group LLP increased its holdings in UMB Financial by 19.1% in the first quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank’s stock valued at $243,359,000 after purchasing an additional 385,830 shares during the last quarter. American Century Companies Inc. grew its position in shares of UMB Financial by 7.7% during the 1st quarter. American Century Companies Inc. now owns 2,054,007 shares of the bank’s stock worth $207,660,000 after buying an additional 146,585 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of UMB Financial by 10.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,912,883 shares of the bank’s stock valued at $192,302,000 after acquiring an additional 174,088 shares during the last quarter. Institutional investors and hedge funds 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.
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