UMB Financial (NASDAQ:UMBF) Price Target Raised to $122.00 at Royal Bank Of Canada

UMB Financial (NASDAQ:UMBF) had its target price lifted by Royal Bank Of Canada from $115.00 to $122.00 in a research report report published on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the bank’s stock.

UMBF has been the topic of a number of other reports. Wells Fargo & Company boosted their price objective on UMB Financial from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Barclays lifted their target price on UMB Financial from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday. Bank of America started coverage on UMB Financial in a research report on Wednesday, April 16th. They set a “buy” rating and a $105.00 price target on the stock. Raymond James Financial raised their price objective on shares of UMB Financial from $135.00 to $138.00 and gave the company a “strong-buy” rating in a research report on Thursday. Finally, Piper Sandler boosted their price objective on shares of UMB Financial from $135.00 to $148.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, UMB Financial currently has a consensus rating of “Moderate Buy” and an average price target of $131.56.

UMB Financial Stock Performance

NASDAQ UMBF opened at $109.99 on Thursday. The firm has a market cap of $8.35 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 1.47 and a beta of 0.74. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $104.62 and its 200-day moving average is $104.23. UMB Financial has a 12-month low of $82.00 and a 12-month high of $129.94.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.61. The business had revenue of $689.21 million during the quarter, compared to analyst estimates of $638.25 million. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. UMB Financial’s revenue was up 76.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 EPS. Sell-side analysts predict that UMB Financial will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, September 10th. UMB Financial’s dividend payout ratio is 20.13%.

Insiders Place Their Bets

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the transaction, the chief executive officer owned 288,945 shares of the company’s stock, valued at $29,417,490.45. The trade was a 1.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.45% of the stock is owned by corporate insiders.

Institutional Trading of UMB Financial

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group grew its position in UMB Financial by 4,840.0% in the first quarter. Brooklyn Investment Group now owns 247 shares of the bank’s stock worth $25,000 after acquiring an additional 242 shares in the last quarter. Rothschild Investment LLC raised its position in UMB Financial by 442.0% during the first quarter. Rothschild Investment LLC now owns 271 shares of the bank’s stock valued at $27,000 after purchasing an additional 221 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in UMB Financial during the first quarter worth about $27,000. McIlrath & Eck LLC bought a new position in shares of UMB Financial during the 1st quarter valued at about $29,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of UMB Financial during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 87.78% of the company’s stock.

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.