UMB Financial (NASDAQ:UMBF) Coverage Initiated by Analysts at Royal Bank of Canada

Stock analysts at Royal Bank of Canada assumed coverage on shares of UMB Financial (NASDAQ:UMBF) in a report issued on Friday, Marketbeat reports. The firm set a “sector perform” rating and a $130.00 price target on the bank’s stock. Royal Bank of Canada’s price target suggests a potential upside of 4.00% from the stock’s current price.

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

UMB Financial Stock Up 1.5 %

Shares of NASDAQ:UMBF opened at $125.00 on Friday. The firm has a market cap of $6.10 billion, a P/E 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. The business has a fifty day simple moving average of $110.81 and a 200 day simple moving average 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.

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

Insider Transactions at UMB Financial

In other UMB Financial news, insider Robert Brian Beaird sold 854 shares of UMB Financial stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $123.38, for a total transaction of $105,366.52. Following the completion of the transaction, the insider now owns 5,828 shares of the company’s stock, valued at $719,058.64. The trade was a 12.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Greg M. Graves purchased 258 shares of the stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $109.29 per share, for a total transaction of $28,196.82. Following the completion of the acquisition, the director now owns 36,244 shares of the company’s stock, valued at approximately $3,961,106.76. This represents a 0.72 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 55,303 shares of company stock worth $5,830,165 over the last quarter. Corporate insiders own 8.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position 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 raised its position in UMB Financial by 2.6% during 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 in the last quarter. American Century Companies Inc. grew 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 valued at $146,196,000 after acquiring an additional 111,090 shares during the last quarter. Dimensional Fund Advisors LP boosted its position 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 valued at $140,968,000 after buying an additional 100,000 shares during the period. Finally, Geode Capital Management LLC lifted its position in UMB Financial by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,114,251 shares of the bank’s stock valued at $117,139,000 after purchasing an additional 21,091 shares during the last quarter. 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.