Zacks Research Upgrades UMB Financial (NASDAQ:UMBF) to Strong-Buy

UMB Financial (NASDAQ:UMBF) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler boosted their target price on shares of UMB Financial from $145.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. Keefe, Bruyette & Woods lifted their price target on UMB Financial from $133.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Raymond James Financial reissued a “strong-buy” rating and set a $145.00 price objective on shares of UMB Financial in a report on Thursday, January 29th. Weiss Ratings lowered UMB Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Finally, Barclays reissued an “overweight” rating and issued a $160.00 price target on shares of UMB Financial in a report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.00.

UMB Financial Stock Up 0.8%

UMBF stock opened at $132.06 on Wednesday. The stock has a fifty day moving average of $120.19 and a 200-day moving average of $116.37. UMB Financial has a fifty-two week low of $82.00 and a fifty-two week high of $132.84. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.94 and a beta of 0.79. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $3.08 EPS for the quarter, beating the consensus estimate of $2.71 by $0.37. The business had revenue of $469.80 million for the quarter, compared to the consensus estimate of $677.30 million. UMB Financial had a net margin of 16.90% and a return on equity of 12.14%. The company’s revenue was up 66.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 earnings per share. As a group, equities research analysts predict that UMB Financial will post 9.66 earnings per share for the current year.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, Director Kevin Charles Gallagher sold 388 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $129.30, for a total value of $50,168.40. Following the completion of the transaction, the director owned 12,488 shares of the company’s stock, valued at $1,614,698.40. The trade was a 3.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Mariner Kemper sold 15,214 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $128.59, for a total transaction of $1,956,368.26. Following the completion of the transaction, the chief executive officer directly owned 1,506,200 shares in the company, valued at $193,682,258. The trade was a 1.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 34,929 shares of company stock worth $4,269,924 over the last three months. 5.45% of the stock is owned by insiders.

Institutional Investors Weigh In On UMB Financial

Several hedge funds have recently added to or reduced their stakes in UMBF. State Street Corp boosted its holdings in shares of UMB Financial by 7.9% in the 2nd quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock worth $453,461,000 after purchasing an additional 313,414 shares in the last quarter. Wellington Management Group LLP lifted its position in UMB Financial by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock worth $366,743,000 after buying an additional 751,525 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in UMB Financial by 3.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,832,827 shares of the bank’s stock worth $335,264,000 after buying an additional 94,451 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in UMB Financial by 3.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,976,030 shares of the bank’s stock worth $213,688,000 after buying an additional 63,147 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in UMB Financial by 6.9% during the second quarter. Geode Capital Management LLC now owns 1,846,252 shares of the bank’s stock valued at $194,173,000 after acquiring an additional 119,319 shares during the last quarter. Institutional investors own 87.78% of the company’s stock.

About UMB Financial

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.