Morgan Stanley Cuts UMB Financial (NASDAQ:UMBF) Price Target to $146.00

UMB Financial (NASDAQ:UMBF) had its price target lowered by Morgan Stanley from $156.00 to $146.00 in a report issued on Thursday,Benzinga reports. Morgan Stanley currently has an overweight rating on the bank’s stock.

A number of other analysts also recently issued reports on UMBF. Citigroup reissued a “neutral” rating and issued a $127.00 target price (down from $130.00) on shares of UMB Financial in a research report on Monday, February 3rd. Piper Sandler raised their target price on UMB Financial from $142.00 to $143.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $128.00 target price on shares of UMB Financial in a research report on Thursday, January 30th. Barclays raised their target price on UMB Financial from $123.00 to $139.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, StockNews.com raised UMB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, UMB Financial has a consensus rating of “Moderate Buy” and an average price target of $128.71.

UMB Financial Stock Performance

Shares of UMBF opened at $101.42 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $7.36 billion, a price-to-earnings ratio of 11.28 and a beta of 0.79. The stock has a 50 day moving average of $112.03 and a 200 day moving average of $112.40. UMB Financial has a 12 month low of $76.00 and a 12 month high of $129.94.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. During the same quarter in the prior year, the business earned $2.29 earnings per share. As a group, sell-side analysts forecast that UMB Financial will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Monday, March 10th. UMB Financial’s dividend payout ratio (DPR) is presently 17.80%.

Insider Activity

In related news, Director Kevin Charles Gallagher sold 527 shares of UMB Financial stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $114.13, for a total transaction of $60,146.51. Following the completion of the sale, the director now owns 13,010 shares of the company’s stock, valued at approximately $1,484,831.30. This trade represents a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J Mariner Kemper sold 3,500 shares of UMB Financial stock in a transaction on Friday, February 21st. The shares were sold at an average price of $108.61, for a total value of $380,135.00. Following the sale, the chief executive officer now directly owns 334,347 shares of the company’s stock, valued at $36,313,427.67. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. 8.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On UMB Financial

Several large investors have recently added to or reduced their stakes in the business. Covestor Ltd lifted its stake in UMB Financial by 31.0% during the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after purchasing an additional 102 shares during the last quarter. USA Financial Formulas lifted its stake in UMB Financial by 124.7% during the fourth quarter. USA Financial Formulas now owns 483 shares of the bank’s stock worth $55,000 after purchasing an additional 268 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in UMB Financial during the third quarter worth about $83,000. Venturi Wealth Management LLC bought a new stake in UMB Financial during the fourth quarter worth about $96,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in UMB Financial during the fourth quarter worth about $103,000. Institutional investors own 87.78% of the company’s stock.

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.