UMB Financial (NASDAQ:UMBF) Price Target Raised to $185.00

UMB Financial (NASDAQ:UMBF) had its target price hoisted by Barclays from $175.00 to $185.00 in a research note released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

Several other equities research analysts also recently issued reports on the stock. Truist Financial dropped their price target on shares of UMB Financial from $170.00 to $156.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. Citigroup cut their price objective on shares of UMB Financial from $162.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, October 29th. TD Cowen upped their price objective on shares of UMB Financial from $152.00 to $154.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Raymond James Financial began coverage on UMB Financial in a research note on Thursday, August 27th. They set an “outperform” rating and a $165.00 target price for the company. Finally, UBS Group initiated coverage on UMB Financial in a research note on Monday, September 14th. They set a “neutral” rating and a $155.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $161.64.

UMB Financial Stock Down 2.8%

Shares of NASDAQ:UMBF opened at $134.70 on Tuesday. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 0.63 and a beta of 0.84. The company has a 50 day moving average of $135.13 and a two-hundred day moving average of $131.51. UMB Financial has a 52-week low of $68.92 and a 52-week high of $144.36. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.04.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, October 27th. The bank reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.34. The business had revenue of $772.39 million for the quarter, compared to analysts’ expectations of $744.81 million. UMB Financial had a net margin of 23.45% and a return on equity of 14.07%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.70 earnings per share. As a group, analysts forecast that UMB Financial will post 13.79 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Thursday, December 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Thursday, December 10th. UMB Financial’s dividend payout ratio (DPR) is presently 15.14%.

Insider Activity

In other UMB Financial news, Director Greg M. Graves purchased 573 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was acquired at an average cost of $139.60 per share, with a total value of $79,990.80. Following the acquisition, the director owned 40,463 shares of the company’s stock, valued at approximately $5,648,634.80. This represents a 1.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kevin Gallagher sold 370 shares of the business’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $134.82, for a total transaction of $49,883.40. Following the sale, the director directly owned 11,493 shares of the company’s stock, valued at approximately $1,549,486.26. This represents a 3.12% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders acquired 1,460 shares of company stock valued at $202,544. Company insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On UMB Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Abel Hall LLC boosted its position in UMB Financial by 2.4% during the 3rd quarter. Abel Hall LLC now owns 3,568 shares of the bank’s stock worth $464,000 after acquiring an additional 82 shares during the period. Friday Financial increased its holdings in shares of UMB Financial by 0.3% during the third quarter. Friday Financial now owns 27,532 shares of the bank’s stock valued at $3,573,000 after purchasing an additional 87 shares during the period. Greenleaf Trust raised its stake in shares of UMB Financial by 4.7% during the second quarter. Greenleaf Trust now owns 2,506 shares of the bank’s stock valued at $358,000 after purchasing an additional 113 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of UMB Financial by 1.7% during the first quarter. First Citizens Bank & Trust Co. now owns 7,272 shares of the bank’s stock valued at $820,000 after purchasing an additional 125 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in UMB Financial by 1.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 14,909 shares of the bank’s stock worth $1,938,000 after purchasing an additional 149 shares during the period. 87.78% of the stock is currently owned by institutional investors and hedge funds.

UMB Financial Company Profile

UMB Financial Corporation is a financial holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to individuals, businesses, institutions and government entities. The company serves customers through banking offices and digital channels across the Midwest and other U.S. markets.

UMB Bank offers commercial and personal banking products, including deposit accounts, loans, treasury management, payment services and credit solutions.