UMB Financial (NASDAQ:UMBF) Research Coverage Started at Morgan Stanley

Morgan Stanley assumed coverage on shares of UMB Financial (NASDAQ:UMBF) in a research note published on Thursday morning, Marketbeat.com reports. The firm issued an overweight rating and a $156.00 target price on the bank’s stock.

A number of other analysts have also commented on UMBF. Citigroup assumed coverage on UMB Financial in a research report on Thursday, October 10th. They issued a “buy” rating and a $127.00 price objective for the company. Wells Fargo & Company raised their target price on UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Barclays raised their target price on UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Piper Sandler raised their target price on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, UMB Financial presently has a consensus rating of “Moderate Buy” and an average price target of $122.00.

UMB Financial Price Performance

Shares of UMBF stock opened at $125.00 on Thursday. The stock has a 50-day moving average price of $110.81 and a 200 day moving average price of $97.26. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 15.63 and a beta of 0.78. UMB Financial has a 12 month low of $69.96 and a 12 month high of $128.73.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.05. The firm had revenue of $716.44 million during the quarter, compared to analyst estimates of $398.83 million. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same period last year, the company earned $2.02 earnings per share. Research analysts expect that UMB Financial will post 9.33 EPS for the current year.

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be given a dividend of $0.40 per share. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.28%. UMB Financial’s payout ratio is presently 19.50%.

Insider Activity at UMB Financial

In other UMB Financial news, Director Greg M. Graves bought 258 shares of UMB Financial stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $109.29 per share, for a total transaction of $28,196.82. Following the completion of the transaction, the director now directly owns 36,244 shares in the company, valued at $3,961,106.76. This represents a 0.72 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO J Mariner Kemper sold 24,300 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total value of $2,473,983.00. Following the transaction, the chief executive officer now owns 1,600,904 shares of the company’s stock, valued at approximately $162,988,036.24. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,303 shares of company stock valued at $5,830,165 over the last 90 days. Insiders own 8.85% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

Several institutional investors have recently bought and sold shares of UMBF. V Square Quantitative Management LLC bought a new position in UMB Financial during the 3rd quarter valued at approximately $26,000. Covestor Ltd raised its position in UMB Financial by 31.0% during the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after purchasing an additional 102 shares during the last quarter. Point72 Asset Management L.P. bought a new position in UMB Financial during the 3rd quarter valued at approximately $83,000. 1620 Investment Advisors Inc. bought a new position in UMB Financial during the 2nd quarter valued at approximately $128,000. Finally, Acropolis Investment Management LLC bought a new position in shares of UMB Financial in the 3rd quarter worth approximately $156,000. 87.78% of the stock is currently 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.