UMB Financial (NASDAQ:UMBF) Price Target Raised to $93.00 at Keefe, Bruyette & Woods

UMB Financial (NASDAQ:UMBF) had its target price boosted by Keefe, Bruyette & Woods from $86.00 to $93.00 in a research report report published on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Several other equities research analysts have also recently issued reports on the company. StockNews.com upgraded UMB Financial from a sell rating to a hold rating in a report on Saturday, March 16th. Piper Sandler raised their target price on shares of UMB Financial from $87.50 to $99.00 and gave the stock an overweight rating in a research note on Thursday, February 1st. Raymond James raised their target price on shares of UMB Financial from $80.00 to $102.00 and gave the stock a strong-buy rating in a research note on Thursday, February 1st. Barclays raised shares of UMB Financial from an equal weight rating to an overweight rating and raised their target price for the stock from $91.00 to $95.00 in a research note on Tuesday. Finally, Wells Fargo & Company raised their target price on shares of UMB Financial from $85.00 to $88.00 and gave the stock an equal weight rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $92.00.

UMB Financial Price Performance

NASDAQ:UMBF opened at $79.66 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.12. UMB Financial has a 52 week low of $50.68 and a 52 week high of $87.36. The stock has a market capitalization of $3.88 billion, a PE ratio of 11.09 and a beta of 0.83. The stock’s 50-day moving average price is $81.82 and its 200-day moving average price is $77.95.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Wednesday, January 31st. The bank reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.53. UMB Financial had a return on equity of 13.75% and a net margin of 14.70%. The company had revenue of $370.80 million for the quarter, compared to analysts’ expectations of $360.69 million. During the same period in the previous year, the firm posted $2.06 EPS. UMB Financial’s revenue was up .0% compared to the same quarter last year. As a group, equities analysts expect that UMB Financial will post 7.41 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, June 10th. UMB Financial’s payout ratio is presently 21.73%.

Insider Activity

In other news, Director Kevin Charles Gallagher sold 625 shares of UMB Financial stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $80.21, for a total transaction of $50,131.25. Following the sale, the director now owns 12,859 shares of the company’s stock, valued at approximately $1,031,420.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Kevin Charles Gallagher sold 625 shares of UMB Financial stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $80.21, for a total value of $50,131.25. Following the completion of the sale, the director now owns 12,859 shares in the company, valued at approximately $1,031,420.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Mariner Kemper sold 3,500 shares of UMB Financial stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $83.10, for a total transaction of $290,850.00. Following the completion of the sale, the chief executive officer now owns 252,114 shares of the company’s stock, valued at approximately $20,950,673.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,277 shares of company stock valued at $2,264,661. 8.85% of the stock is currently owned by company insiders.

Institutional Trading of UMB Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in UMB Financial by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,310,807 shares of the bank’s stock valued at $360,168,000 after purchasing an additional 44,150 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of UMB Financial by 73.5% in the third quarter. Wellington Management Group LLP now owns 2,586,701 shares of the bank’s stock worth $160,505,000 after acquiring an additional 1,095,630 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of UMB Financial by 15.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,997,303 shares of the bank’s stock worth $166,875,000 after acquiring an additional 265,399 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of UMB Financial by 3.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,905,072 shares of the bank’s stock worth $165,722,000 after acquiring an additional 63,022 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of UMB Financial by 4.3% in the third quarter. American Century Companies Inc. now owns 1,817,350 shares of the bank’s stock worth $112,767,000 after acquiring an additional 75,140 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

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.