Royal Bank of Canada Issues Pessimistic Forecast for UMB Financial (NASDAQ:UMBF) Stock Price

UMB Financial (NASDAQ:UMBF) had its target price lowered by investment analysts at Royal Bank of Canada from $128.00 to $115.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s target price suggests a potential upside of 14.61% from the company’s previous close.

UMBF has been the subject of a number of other reports. Wells Fargo & Company raised their price target on UMB Financial from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday. Citigroup reiterated a “neutral” rating and issued a $127.00 price target (down previously from $130.00) on shares of UMB Financial in a research note on Monday, February 3rd. Piper Sandler upped their target price on shares of UMB Financial from $142.00 to $143.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Bank of America initiated coverage on UMB Financial in a research report on Wednesday, April 16th. They issued a “buy” rating and a $105.00 price objective for the company. Finally, StockNews.com upgraded UMB Financial from a “sell” rating to a “hold” rating in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $120.38.

UMB Financial Trading Up 2.6 %

Shares of NASDAQ UMBF opened at $100.34 on Thursday. The company’s 50 day simple moving average is $97.84 and its 200 day simple moving average is $110.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. UMB Financial has a fifty-two week low of $78.56 and a fifty-two week high of $129.94. The firm has a market capitalization of $7.62 billion, a P/E ratio of 11.16 and a beta of 0.71.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.37. The company had revenue of $563.84 million during the quarter, compared to analysts’ expectations of $555.79 million. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. UMB Financial’s revenue for the quarter was up 41.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.47 earnings per share. On average, analysts predict that UMB Financial will post 9.66 EPS for the current year.

Insider Buying and Selling

In other UMB Financial news, Director Kevin Charles Gallagher sold 527 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $114.13, for a total value of $60,146.51. Following the completion of the transaction, the director now owns 13,010 shares of the company’s stock, valued at $1,484,831.30. This represents a 3.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO J Mariner Kemper sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $108.61, for a total transaction of $380,135.00. Following the completion of the transaction, the chief executive officer now owns 334,347 shares of the company’s stock, valued at approximately $36,313,427.67. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. 5.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On UMB Financial

Several large investors have recently modified their holdings of the company. Truist Financial Corp grew its position in shares of UMB Financial by 0.4% during the 4th quarter. Truist Financial Corp now owns 19,565 shares of the bank’s stock worth $2,208,000 after buying an additional 83 shares during the period. SummerHaven Investment Management LLC raised its holdings in shares of UMB Financial by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 9,145 shares of the bank’s stock valued at $925,000 after purchasing an additional 122 shares during the period. Covestor Ltd grew its stake in shares of UMB Financial by 28.8% in the 4th quarter. Covestor Ltd now owns 555 shares of the bank’s stock valued at $63,000 after buying an additional 124 shares during the period. Heritage Family Offices LLP increased its position in UMB Financial by 6.5% in the 4th quarter. Heritage Family Offices LLP now owns 2,059 shares of the bank’s stock valued at $232,000 after buying an additional 125 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in UMB Financial by 5.8% during the 4th quarter. EP Wealth Advisors LLC now owns 2,361 shares of the bank’s stock worth $266,000 after buying an additional 130 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 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.