UMB Financial (NASDAQ:UMBF) Upgraded at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of UMB Financial (NASDAQ:UMBF) from a sector perform rating to an outperform rating in a report published on Thursday morning, Marketbeat Ratings reports. They currently have $128.00 price target on the bank’s stock.

Other research analysts have also issued research reports about the stock. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price objective (down previously from $148.00) on shares of UMB Financial in a research report on Thursday, October 30th. Hovde Group started coverage on UMB Financial in a research note on Monday, October 6th. They set an “outperform” rating on the stock. Cowen initiated coverage on UMB Financial in a report on Wednesday, September 24th. They issued a “buy” rating for the company. Barclays set a $155.00 price objective on UMB Financial and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Finally, Truist Financial upped their target price on UMB Financial from $130.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $137.20.

UMB Financial Stock Up 1.8%

UMBF opened at $108.99 on Thursday. The business has a 50 day moving average of $116.45 and a 200-day moving average of $110.05. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 1.11 and a beta of 0.80. The company has a current ratio of 0.75, a quick ratio of 0.77 and a debt-to-equity ratio of 0.07. UMB Financial has a 1-year low of $82.00 and a 1-year high of $129.94.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, October 28th. The bank reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.22. UMB Financial had a net margin of 16.01% and a return on equity of 12.15%. The business had revenue of $678.34 million for the quarter, compared to analyst estimates of $661.60 million. During the same quarter in the previous year, the firm posted $2.25 earnings per share. UMB Financial’s revenue was up 67.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that UMB Financial will post 9.66 earnings per share for the current year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Wednesday, December 10th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This is a boost from UMB Financial’s previous quarterly dividend of $0.40. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.6%. UMB Financial’s dividend payout ratio (DPR) is 19.48%.

Insider Buying and Selling

In other UMB Financial news, EVP Amy Harris sold 500 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $122.02, for a total transaction of $61,010.00. Following the sale, the executive vice president directly owned 7,285 shares of the company’s stock, valued at approximately $888,915.70. This represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nikki Farentino Newton sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $106.09, for a total transaction of $137,917.00. Following the sale, the insider directly owned 13,667 shares of the company’s stock, valued at approximately $1,449,932.03. The trade was a 8.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have acquired 683 shares of company stock worth $75,961 and have sold 22,145 shares worth $2,578,583. 5.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On UMB Financial

A number of large investors have recently bought and sold shares of UMBF. Brooklyn Investment Group raised its position in UMB Financial by 4,840.0% in the 1st quarter. Brooklyn Investment Group now owns 247 shares of the bank’s stock valued at $25,000 after purchasing an additional 242 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of UMB Financial in the first quarter valued at about $27,000. McIlrath & Eck LLC bought a new position in shares of UMB Financial in the first quarter valued at about $29,000. Farther Finance Advisors LLC lifted its position in UMB Financial by 219.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 249 shares of the bank’s stock worth $29,000 after buying an additional 171 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in UMB Financial during the 1st quarter worth about $35,000. 87.78% of the stock is currently owned by 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.