UMB Financial (NASDAQ:UMBF) Receives Sector Perform Rating from Royal Bank of Canada

UMB Financial (NASDAQ:UMBF)‘s stock had its “sector perform” rating restated by research analysts at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They presently have a $128.00 price objective on the bank’s stock. Royal Bank of Canada’s target price suggests a potential upside of 8.57% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Barclays increased their target price on shares of UMB Financial from $123.00 to $139.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Piper Sandler lifted their price objective on shares of UMB Financial from $142.00 to $143.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup began coverage on UMB Financial in a research report on Thursday, October 10th. They set a “buy” rating and a $127.00 target price on the stock. StockNews.com upgraded UMB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, 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 research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, UMB Financial currently has a consensus rating of “Moderate Buy” and an average target price of $126.63.

UMB Financial Trading Down 2.0 %

NASDAQ:UMBF opened at $117.90 on Thursday. The firm’s 50 day moving average is $118.91 and its 200 day moving average is $109.83. UMB Financial has a 12 month low of $76.00 and a 12 month high of $129.94. The stock has a market capitalization of $5.75 billion, a PE ratio of 13.11 and a beta of 0.82. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, January 28th. The bank reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.24. UMB Financial had a return on equity of 13.90% and a net margin of 15.76%. During the same period last year, the firm earned $2.29 EPS. Sell-side analysts expect that UMB Financial will post 9.4 earnings per share for the current year.

Insider Buying and Selling at UMB Financial

In other news, insider Robert Brian Beaird sold 854 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $123.38, for a total transaction of $105,366.52. Following the sale, the insider now owns 5,828 shares in the company, valued at approximately $719,058.64. This trade represents a 12.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO J Mariner Kemper sold 24,300 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $124.95, for a total transaction of $3,036,285.00. Following the completion of the transaction, the chief executive officer now owns 1,552,304 shares of the company’s stock, valued at $193,960,384.80. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.85% of the company’s stock.

Institutional Trading of UMB Financial

A number of hedge funds have recently bought and sold shares of the company. Convergence Investment Partners LLC raised its stake in shares of UMB Financial by 29.2% during the fourth quarter. Convergence Investment Partners LLC now owns 12,951 shares of the bank’s stock worth $1,462,000 after acquiring an additional 2,930 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of UMB Financial during the 4th quarter valued at $96,000. Truist Financial Corp raised its position in UMB Financial by 0.4% in the 4th quarter. Truist Financial Corp now owns 19,565 shares of the bank’s stock worth $2,208,000 after purchasing an additional 83 shares during the period. Monument Capital Management lifted its stake in UMB Financial by 9.6% in the fourth quarter. Monument Capital Management now owns 2,920 shares of the bank’s stock worth $330,000 after purchasing an additional 255 shares during the last quarter. Finally, Congress Asset Management Co. boosted its position in UMB Financial by 8.0% during the fourth quarter. Congress Asset Management Co. now owns 125,604 shares of the bank’s stock valued at $14,176,000 after buying an additional 9,349 shares during the period. 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.