UMB Financial (NASDAQ:UMBF) Price Target Raised to $123.00

UMB Financial (NASDAQ:UMBF) had its price target increased by Barclays from $118.00 to $123.00 in a research note released on Thursday, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Other equities analysts have also issued reports about the stock. Piper Sandler increased their price target on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price target on shares of UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, Citigroup initiated coverage on shares of UMB Financial in a research report on Thursday, October 10th. They issued a “buy” rating and a $127.00 price target for the company. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, UMB Financial presently has a consensus rating of “Moderate Buy” and an average price target of $115.00.

UMB Financial Stock Down 0.2 %

Shares of UMBF traded down $0.24 during midday trading on Thursday, reaching $109.49. The stock had a trading volume of 69,836 shares, compared to its average volume of 359,218. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 13.72 and a beta of 0.78. The company’s fifty day simple moving average is $105.05 and its two-hundred day simple moving average is $92.92. UMB Financial has a 1-year low of $64.48 and a 1-year high of $113.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.73.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.05. The company had revenue of $716.44 million for the quarter, compared to analysts’ expectations of $398.83 million. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same period last year, the firm earned $2.02 earnings per share. Equities research analysts expect that UMB Financial will post 8.98 earnings per share for the current year.

UMB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.40 per share. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 1.46%. The ex-dividend date is Tuesday, December 10th. UMB Financial’s dividend payout ratio (DPR) is presently 19.50%.

Insider Buying and Selling

In other UMB Financial news, CEO J Mariner Kemper sold 24,300 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,600,904 shares of the company’s stock, valued at $162,988,036.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kris A. Robbins sold 5,000 shares of the business’s 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 transaction, the director now directly owns 3,211 shares in the company, valued at $329,127.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO J Mariner Kemper sold 24,300 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the completion of the sale, the chief executive officer now owns 1,600,904 shares of the company’s stock, valued at approximately $162,988,036.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,038 shares of company stock valued at $4,078,068 over the last quarter. 8.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in UMB Financial by 403.7% during the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock worth $91,114,000 after buying an additional 694,751 shares in the last quarter. Emerald Advisers LLC acquired a new position in shares of UMB Financial during the 3rd quarter worth approximately $12,867,000. Emerald Mutual Fund Advisers Trust purchased a new stake in UMB Financial in the 3rd quarter valued at approximately $9,775,000. State of Alaska Department of Revenue grew its holdings in UMB Financial by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,066 shares of the bank’s stock valued at $532,000 after buying an additional 345 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in UMB Financial by 1.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 44,716 shares of the bank’s stock valued at $4,700,000 after buying an additional 611 shares during 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.