UMB Financial (NASDAQ:UMBF) Now Covered by Citigroup

Equities research analysts at Citigroup assumed coverage on shares of UMB Financial (NASDAQ:UMBF) in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $127.00 price target on the bank’s stock. Citigroup’s price target would indicate a potential upside of 16.52% from the company’s previous close.

Several other equities analysts also recently weighed in on UMBF. Wells Fargo & Company raised their price objective on UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Barclays raised their price target on UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Piper Sandler boosted their price objective on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.86.

UMB Financial Stock Performance

NASDAQ:UMBF opened at $108.99 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.12. UMB Financial has a fifty-two week low of $58.92 and a fifty-two week high of $109.96. The firm’s fifty day simple moving average is $101.02 and its 200-day simple moving average is $90.32. The stock has a market cap of $5.31 billion, a PE ratio of 14.47 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, July 30th. The bank reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.15. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. The company had revenue of $390.03 million for the quarter, compared to analyst estimates of $384.96 million. During the same period in the prior year, the business posted $1.93 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts expect that UMB Financial will post 8.98 earnings per share for the current fiscal year.

Insider Activity at UMB Financial

In related news, CEO J Mariner Kemper sold 24,300 shares of the business’s 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 completion of 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $101.81, for a total value of $2,473,983.00. Following the completion of the sale, the chief executive officer now directly owns 1,600,904 shares of the company’s stock, valued at approximately $162,988,036.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kris A. Robbins sold 5,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the transaction, the director now owns 3,211 shares of the company’s stock, valued at $329,127.50. 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 42,596 shares of company stock valued at $4,224,884 over the last quarter. Insiders own 8.85% of the company’s stock.

Institutional Trading of UMB Financial

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of UMB Financial by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock valued at $409,321,000 after acquiring an additional 394,578 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in UMB Financial by 2.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,954,762 shares of the bank’s stock valued at $163,066,000 after purchasing an additional 49,690 shares during the period. American Century Companies Inc. increased its position in UMB Financial by 6.8% during the second quarter. American Century Companies Inc. now owns 1,752,524 shares of the bank’s stock worth $146,196,000 after purchasing an additional 111,090 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in UMB Financial by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,689,895 shares of the bank’s stock worth $140,968,000 after purchasing an additional 100,000 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of UMB Financial by 102.7% in the 2nd quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock valued at $62,780,000 after purchasing an additional 381,278 shares during the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

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.