UMB Financial (NASDAQ:UMBF) Rating Increased to Moderate Buy at Raymond James Financial

Raymond James Financial upgraded shares of UMB Financial (NASDAQ:UMBF) to a moderate buy rating in a research note published on Thursday morning,Zacks.com reports.

A number of other analysts also recently commented on UMBF. Keefe, Bruyette & Woods upped their target price on UMB Financial from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Wells Fargo & Company set a $160.00 price target on UMB Financial and gave the company an “equal weight” rating in a report on Monday, August 10th. TD Cowen restated a “buy” rating and issued a $166.00 price objective (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. Morgan Stanley raised their price objective on shares of UMB Financial from $143.00 to $159.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Finally, Stephens started coverage on shares of UMB Financial in a report on Tuesday, July 14th. They set an “overweight” rating and a $167.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.54.

UMB Financial Trading Up 0.0%

Shares of UMB Financial stock opened at $144.59 on Thursday. The stock has a market cap of $10.98 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 0.71 and a beta of 0.77. The firm has a fifty day moving average price of $144.86 and a 200 day moving average price of $130.85. UMB Financial has a 1 year low of $103.38 and a 1 year high of $153.32. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, beating the consensus estimate of $3.12 by $0.45. The company had revenue of $778.00 million for the quarter, compared to analyst estimates of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same period in the prior year, the company earned $2.96 earnings per share. Equities research analysts predict that UMB Financial will post 13.48 earnings per share for the current year.

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, September 10th. UMB Financial’s dividend payout ratio (DPR) is 14.32%.

Insider Buying and Selling at UMB Financial

In related news, Director Kevin Charles Gallagher sold 360 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $145.13, for a total value of $52,246.80. Following the transaction, the director directly owned 11,863 shares of the company’s stock, valued at approximately $1,721,677.19. This trade represents a 2.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nikki Farentino Newton sold 2,000 shares of UMB Financial stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total value of $297,200.00. Following the completion of the sale, the insider owned 11,981 shares in the company, valued at approximately $1,780,376.60. The trade was a 14.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 34,171 shares of company stock valued at $4,919,826. Corporate insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

A number of large investors have recently modified their holdings of UMBF. Corient Private Wealth LP purchased a new position in shares of UMB Financial in the second quarter worth about $221,000. Amundi grew its stake in UMB Financial by 14.7% during the 2nd quarter. Amundi now owns 4,620 shares of the bank’s stock valued at $660,000 after acquiring an additional 593 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in UMB Financial in the 2nd quarter valued at about $685,000. California State Teachers Retirement System raised its holdings in UMB Financial by 13,612.7% in the 2nd quarter. California State Teachers Retirement System now owns 11,954,437 shares of the bank’s stock valued at $1,706,615,000 after acquiring an additional 11,867,259 shares during the last quarter. Finally, HB Wealth Management LLC purchased a new position in UMB Financial in the 2nd quarter worth approximately $248,000. 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.