UMB Financial (NASDAQ:UMBF) Price Target Raised to $120.00

UMB Financial (NASDAQ:UMBF) had its price target upped by Wells Fargo & Company from $107.00 to $120.00 in a research report report published on Thursday, Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Several other analysts have also recently commented on UMBF. Barclays boosted their price target on shares of UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup began coverage on shares of UMB Financial in a research note on Thursday, October 10th. They issued a “buy” rating and a $127.00 price target on the stock. Finally, Piper Sandler boosted their price target on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

UMB Financial Stock Down 1.3 %

UMBF opened at $108.28 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.73 and a current ratio of 0.76. UMB Financial has a fifty-two week low of $64.48 and a fifty-two week high of $113.56. The firm’s fifty day moving average is $105.14 and its 200 day moving average is $93.21. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 13.54 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, topping the consensus estimate of $2.20 by $0.05. The business had revenue of $716.44 million for the quarter, compared to analysts’ expectations of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same quarter in the previous year, the company earned $2.02 EPS. On average, sell-side analysts forecast that UMB Financial will post 9.09 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.48%. UMB Financial’s payout ratio is 19.50%.

Insider Transactions at UMB Financial

In related news, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total value of $2,473,983.00. Following the sale, the chief executive officer now directly owns 1,600,904 shares of the company’s stock, valued at $162,988,036.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Kris A. Robbins sold 5,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.50, for a total value of $512,500.00. Following the sale, the director now directly owns 3,211 shares of the company’s stock, valued at $329,127.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the completion of the sale, the chief executive officer now directly owns 1,600,904 shares in the company, valued at $162,988,036.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,038 shares of company stock worth $4,078,068 in the last three months. Insiders own 8.85% of the company’s stock.

Institutional Trading of UMB Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UMBF. Principal Financial Group Inc. raised its position in UMB Financial by 403.7% in 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 period. Millennium Management LLC increased its position in shares of UMB Financial by 567.1% during the second quarter. Millennium Management LLC now owns 733,734 shares of the bank’s stock worth $61,208,000 after acquiring an additional 623,751 shares during the period. Vanguard Group Inc. increased its position in shares of UMB Financial by 9.2% during the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock worth $409,321,000 after acquiring an additional 394,578 shares during the period. ProShare Advisors LLC increased its position in shares of UMB Financial by 102.7% during the second quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock worth $62,780,000 after acquiring an additional 381,278 shares during the period. Finally, Emerald Advisers LLC purchased a new position in shares of UMB Financial during the third quarter worth approximately $12,867,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

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.