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

UMB Financial (NASDAQ:UMBF) had its price objective lifted by Wells Fargo & Company from $107.00 to $120.00 in a research report sent to investors on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the bank’s stock.

Other equities analysts also recently issued reports about the stock. Barclays increased their price objective on shares of UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler increased their price objective on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Citigroup initiated coverage on shares of UMB Financial in a research note on Thursday, October 10th. They set a “buy” rating and a $127.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

UMB Financial Stock Performance

Shares of NASDAQ:UMBF opened at $108.28 on Thursday. The firm has a market cap of $5.28 billion, a PE ratio of 13.54 and a beta of 0.78. The firm’s 50 day simple moving average is $105.14 and its 200-day simple moving average is $93.21. UMB Financial has a one year low of $64.48 and a one year high of $113.56. 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 (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.05. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. The firm had revenue of $716.44 million for the quarter, compared to the consensus estimate of $398.83 million. During the same period last year, the firm earned $2.02 earnings per share. As a group, equities analysts predict that UMB Financial will post 9.09 EPS for the current year.

UMB Financial Increases Dividend

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

Insider Buying and Selling at UMB Financial

In other UMB Financial news, EVP John Pauls sold 1,623 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $92.97, for a total value of $150,890.31. Following the completion of the sale, the executive vice president now directly owns 7,332 shares in the company, valued at $681,656.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO J Mariner Kemper sold 10,115 shares of UMB Financial stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $93.00, for a total transaction of $940,695.00. Following the completion of the sale, the chief executive officer now directly owns 257,796 shares in the company, valued at approximately $23,975,028. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Pauls sold 1,623 shares of UMB Financial stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $92.97, for a total transaction of $150,890.31. Following the sale, the executive vice president now owns 7,332 shares of the company’s stock, valued at $681,656.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,038 shares of company stock worth $4,078,068 over the last three months. Corporate insiders own 8.85% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

Several institutional investors and hedge funds have recently made changes to their positions in UMBF. Principal Financial Group Inc. lifted its stake in shares of UMB Financial by 403.7% during the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock worth $91,114,000 after buying an additional 694,751 shares during the period. Millennium Management LLC lifted its stake 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 buying an additional 623,751 shares during the period. Vanguard Group Inc. lifted its stake 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 buying an additional 394,578 shares during the period. ProShare Advisors LLC lifted its stake 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 buying an additional 381,278 shares during the period. Finally, Emerald Advisers LLC acquired a new stake in shares of UMB Financial during the third quarter worth $12,867,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

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.