Royal Bank of Canada Initiates Coverage on UMB Financial (NASDAQ:UMBF)

Royal Bank of Canada started coverage on shares of UMB Financial (NASDAQ:UMBF) in a report published on Friday, Marketbeat Ratings reports. The firm issued a sector perform rating and a $130.00 target price on the bank’s stock.

Other analysts have also recently issued reports about the company. Morgan Stanley initiated coverage on UMB Financial in a research report on Thursday. They set an “overweight” rating and a $156.00 price objective for the company. Citigroup assumed coverage on shares of UMB Financial in a research report on Thursday, October 10th. They issued a “buy” rating and a $127.00 price objective on the stock. Barclays upped their price objective on shares of UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler lifted their target price on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their price target on shares of UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $122.00.

UMB Financial Price Performance

Shares of NASDAQ UMBF opened at $125.00 on Friday. The stock has a 50 day moving average of $110.81 and a two-hundred day moving average of $97.37. UMB Financial has a twelve month low of $69.96 and a twelve month high of $128.73. The stock has a market cap of $6.10 billion, a P/E ratio of 15.63 and a beta of 0.78. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.05. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. The company had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. During the same period in the previous year, the business posted $2.02 earnings per share. On average, research analysts forecast that UMB Financial will post 9.21 earnings per share for the current year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be paid a $0.40 dividend. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.28%. UMB Financial’s dividend payout ratio (DPR) is 19.50%.

Insiders Place Their Bets

In other news, CEO J Mariner Kemper sold 24,300 shares of UMB Financial stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the completion of the transaction, the chief executive officer now owns 1,600,904 shares of the company’s stock, valued at $162,988,036.24. The trade was a 1.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kris A. Robbins sold 5,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.50, for a total transaction of $512,500.00. Following the completion of the sale, the director now directly owns 3,211 shares in the company, valued at approximately $329,127.50. The trade was a 60.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,303 shares of company stock worth $5,830,165. 8.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in UMB Financial during the 3rd quarter valued at $26,000. Covestor Ltd boosted its stake in shares of UMB Financial by 31.0% during the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after acquiring an additional 102 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in UMB Financial during the 3rd quarter worth about $83,000. 1620 Investment Advisors Inc. acquired a new position in UMB Financial in the 2nd quarter valued at about $128,000. Finally, Acropolis Investment Management LLC purchased a new position in UMB Financial in the 3rd quarter valued at about $156,000. 87.78% of the stock is owned by hedge funds and other 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.