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

Royal Bank of Canada initiated coverage on shares of UMB Financial (NASDAQ:UMBF) in a research report sent to investors on Friday morning, Marketbeat.com reports. The brokerage issued a sector perform rating and a $130.00 price objective on the bank’s stock.

A number of other equities analysts also recently issued reports on UMBF. Piper Sandler increased their price objective 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. Morgan Stanley assumed coverage on shares of UMB Financial in a research note on Thursday. They set an “overweight” rating and a $156.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Barclays raised their target price on shares of UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Citigroup assumed coverage on shares of UMB Financial in a research note on Thursday, October 10th. They issued a “buy” rating and a $127.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, UMB Financial has a consensus rating of “Moderate Buy” and an average target price of $122.00.

UMB Financial Stock Performance

Shares of NASDAQ:UMBF opened at $125.00 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.76 and a current ratio of 0.76. The firm’s 50 day simple moving average is $110.41 and its 200-day simple moving average is $96.96. UMB Financial has a one year low of $69.96 and a one year high of $128.73. The firm has a market cap of $6.10 billion, a PE ratio of 15.63 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 earnings per share (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 firm had revenue of $716.44 million for the quarter, compared to the consensus estimate of $398.83 million. During the same period last year, the firm earned $2.02 earnings per share. As a group, equities analysts predict that UMB Financial will post 9.33 EPS for the current year.

UMB Financial Increases Dividend

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

Insider Buying and Selling

In other UMB Financial news, Director Greg M. Graves purchased 258 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $109.29 per share, for a total transaction of $28,196.82. Following the completion of the transaction, the director now owns 36,244 shares of the company’s stock, valued at $3,961,106.76. The trade was a 0.72 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO J Mariner Kemper sold 24,300 shares of the business’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 transaction, the chief executive officer now owns 1,600,904 shares in the company, valued at $162,988,036.24. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,303 shares of company stock valued at $5,830,165 over the last 90 days. Insiders own 8.85% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

A number of institutional investors and hedge funds have recently made changes to their positions in UMBF. V Square Quantitative Management LLC purchased a new stake in shares of UMB Financial in the 3rd quarter valued at approximately $26,000. Covestor Ltd increased its stake in UMB Financial by 31.0% during the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after buying an additional 102 shares during the period. Point72 Asset Management L.P. purchased a new stake in UMB Financial during the 3rd quarter worth approximately $83,000. 1620 Investment Advisors Inc. purchased a new stake in UMB Financial during the 2nd quarter worth approximately $128,000. Finally, Acropolis Investment Management LLC purchased a new stake in UMB Financial during the 3rd quarter worth approximately $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.