UMB Financial (NASDAQ:UMBF) Now Covered by Analysts at Royal Bank of Canada

Royal Bank of Canada began coverage on shares of UMB Financial (NASDAQ:UMBF) in a research note published on Friday morning, Marketbeat reports. The firm issued a sector perform rating and a $130.00 target price on the bank’s stock.

Several other equities analysts have also recently issued reports on the company. Barclays lifted their price objective on UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Citigroup initiated coverage on shares of UMB Financial in a report on Thursday, October 10th. They set a “buy” rating and a $127.00 price target for the company. Morgan Stanley initiated coverage on shares of UMB Financial in a report on Thursday, November 21st. They issued an “overweight” rating and a $156.00 price objective on the stock. Wells Fargo & Company increased their target price on UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Piper Sandler lifted their price target on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $122.00.

UMB Financial Stock Performance

NASDAQ UMBF opened at $127.60 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $6.23 billion, a P/E ratio of 16.12 and a beta of 0.78. The stock has a 50-day moving average of $110.81 and a two-hundred day moving average of $97.47. UMB Financial has a 1-year low of $69.96 and a 1-year high of $129.94.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.05. The firm had revenue of $716.44 million for the quarter, compared to the consensus estimate of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same period in the prior year, the firm earned $2.02 EPS. As a group, analysts anticipate that UMB Financial will post 9.21 EPS for the current year.

UMB Financial Increases Dividend

The company also recently disclosed 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. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Tuesday, December 10th. UMB Financial’s dividend payout ratio is presently 20.00%.

Insider Activity

In other UMB Financial news, CEO J Mariner Kemper sold 24,300 shares of UMB Financial stock in a transaction that occurred on 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 directly owns 1,600,904 shares in the company, valued at approximately $162,988,036.24. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Brian Beaird sold 854 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total value of $105,366.52. Following the sale, the insider now owns 5,828 shares of the company’s stock, valued at $719,058.64. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,303 shares of company stock valued at $5,830,165 in the last ninety days. 8.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On UMB Financial

A number of institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new position in shares of UMB Financial during the 3rd quarter worth $26,000. Covestor Ltd grew its holdings in UMB Financial by 31.0% in the third 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. purchased a new position in shares of UMB Financial in the third quarter valued at $83,000. 1620 Investment Advisors Inc. acquired a new position in shares of UMB Financial during the 2nd quarter worth $128,000. Finally, Acropolis Investment Management LLC purchased a new stake in shares of UMB Financial in the 3rd quarter worth about $156,000. Hedge funds and other institutional investors own 87.78% of the company’s stock.

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.