UMB Financial (NASDAQ:UMBF) Price Target Raised to $141.00

UMB Financial (NASDAQ:UMBF) had its price objective lifted by Keefe, Bruyette & Woods from $133.00 to $141.00 in a research note released on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the bank’s stock.

A number of other equities analysts have also recently weighed in on UMBF. TD Cowen reaffirmed a “buy” rating on shares of UMB Financial in a research note on Wednesday, January 7th. Barclays reaffirmed an “overweight” rating and issued a $160.00 target price on shares of UMB Financial in a report on Thursday. Citigroup boosted their price target on UMB Financial from $120.00 to $138.00 and gave the stock a “neutral” rating in a research note on Thursday. Piper Sandler restated an “overweight” rating and issued a $145.00 price target (down previously from $148.00) on shares of UMB Financial in a report on Thursday, October 30th. Finally, Hovde Group began coverage on UMB Financial in a report on Monday, October 6th. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, UMB Financial currently has an average rating of “Moderate Buy” and an average target price of $141.00.

UMB Financial Price Performance

UMBF stock opened at $127.14 on Thursday. The company has a market capitalization of $9.66 billion, a PE ratio of 13.93, a P/E/G ratio of 1.01 and a beta of 0.78. The business’s fifty day moving average price is $118.72 and its 200 day moving average price is $115.84. UMB Financial has a 12-month low of $82.00 and a 12-month high of $129.98. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $3.08 EPS for the quarter, beating the consensus estimate of $2.71 by $0.37. UMB Financial had a return on equity of 12.14% and a net margin of 16.90%.The business had revenue of $469.80 million during the quarter, compared to analysts’ expectations of $677.30 million. During the same period last year, the firm earned $2.49 EPS. The company’s quarterly revenue was up 66.0% compared to the same quarter last year. On average, sell-side analysts anticipate that UMB Financial will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 10th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, March 10th. UMB Financial’s dividend payout ratio (DPR) is currently 18.84%.

Insider Activity

In other UMB Financial news, Director Kevin Charles Gallagher sold 460 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $110.71, for a total value of $50,926.60. Following the transaction, the director directly owned 12,090 shares in the company, valued at approximately $1,338,483.90. This represents a 3.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Mariner Kemper sold 15,367 shares of UMB Financial stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $114.58, for a total transaction of $1,760,750.86. Following the sale, the chief executive officer owned 1,521,414 shares of the company’s stock, valued at approximately $174,323,616.12. This trade represents a 1.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 17,127 shares of company stock worth $1,949,594. Company insiders own 5.45% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Alliancebernstein L.P. grew its position in shares of UMB Financial by 636.7% in the second quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock valued at $156,543,000 after purchasing an additional 1,286,543 shares during the period. Norges Bank purchased a new stake in UMB Financial in the 2nd quarter valued at about $93,829,000. Wellington Management Group LLP increased its stake in shares of UMB Financial by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock valued at $366,743,000 after acquiring an additional 751,525 shares during the last quarter. State Street Corp lifted its holdings in shares of UMB Financial by 7.9% during the 2nd quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock worth $453,461,000 after acquiring an additional 313,414 shares during the period. Finally, William Blair Investment Management LLC acquired a new stake in shares of UMB Financial in the third quarter worth approximately $29,484,000. Hedge funds and other 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.