UMB Financial (NASDAQ:UMBF) Price Target Raised to $110.00

UMB Financial (NASDAQ:UMBF) had its price objective hoisted by Wells Fargo & Company from $105.00 to $110.00 in a research note published on Thursday,Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

Other analysts also recently issued research reports about the company. Barclays dropped their price objective on UMB Financial from $139.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Bank of America initiated coverage on UMB Financial in a report on Wednesday, April 16th. They set a “buy” rating and a $105.00 price objective on the stock. StockNews.com upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 3rd. Citigroup reiterated a “neutral” rating and issued a $127.00 price target (down previously from $130.00) on shares of UMB Financial in a report on Monday, February 3rd. Finally, Piper Sandler raised their price objective on shares of UMB Financial from $142.00 to $143.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $120.38.

UMB Financial Price Performance

UMB Financial stock opened at $100.34 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $7.62 billion, a P/E ratio of 11.16 and a beta of 0.71. The business has a 50-day moving average of $97.84 and a 200-day moving average of $110.14. UMB Financial has a 1 year low of $78.56 and a 1 year high of $129.94.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was up 41.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.47 earnings per share. On average, equities analysts anticipate that UMB Financial will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given 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 is presently 20.13%.

Insider Activity at UMB Financial

In other news, CEO J Mariner Kemper sold 3,500 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $108.61, for a total value of $380,135.00. Following the completion of the sale, the chief executive officer now owns 334,347 shares of the company’s stock, valued at approximately $36,313,427.67. This represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kevin Charles Gallagher sold 527 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $114.13, for a total transaction of $60,146.51. Following the transaction, the director now owns 13,010 shares in the company, valued at approximately $1,484,831.30. The trade was a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.45% of the stock is owned by insiders.

Institutional Investors Weigh In On UMB Financial

A number of institutional investors and hedge funds have recently modified their holdings of UMBF. Rothschild Investment LLC grew its holdings in UMB Financial by 442.0% during the first quarter. Rothschild Investment LLC now owns 271 shares of the bank’s stock worth $27,000 after purchasing an additional 221 shares during the period. Versant Capital Management Inc lifted its position in shares of UMB Financial by 703.2% in the first quarter. Versant Capital Management Inc now owns 498 shares of the bank’s stock valued at $50,000 after buying an additional 436 shares during the last quarter. USA Financial Formulas boosted its stake in shares of UMB Financial by 124.7% during the 4th quarter. USA Financial Formulas now owns 483 shares of the bank’s stock worth $55,000 after acquiring an additional 268 shares during the period. Covestor Ltd increased its holdings in shares of UMB Financial by 28.8% during the 4th quarter. Covestor Ltd now owns 555 shares of the bank’s stock worth $63,000 after acquiring an additional 124 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of UMB Financial by 38.1% in the first quarter. Fifth Third Bancorp now owns 624 shares of the bank’s stock valued at $63,000 after purchasing an additional 172 shares during the last quarter. 87.78% of the stock is owned by 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.