Wells Fargo & Company Forecasts Strong Price Appreciation for UMB Financial (NASDAQ:UMBF) Stock

UMB Financial (NASDAQ:UMBF) had its price target increased by investment analysts at Wells Fargo & Company from $105.00 to $110.00 in a report released on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 9.63% from the stock’s previous close.

Several other research firms also recently commented on UMBF. Bank of America initiated coverage on shares of UMB Financial in a research note on Wednesday, April 16th. They issued a “buy” rating and a $105.00 price target for the company. Barclays decreased their price objective on UMB Financial from $139.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Piper Sandler raised 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. Morgan Stanley dropped their price objective on shares of UMB Financial from $156.00 to $146.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Citigroup reiterated a “neutral” rating and set a $127.00 target price (down previously from $130.00) on shares of UMB Financial in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $120.38.

UMB Financial Price Performance

UMB Financial stock opened at $100.34 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75. The company’s 50 day simple moving average is $97.84 and its 200-day simple moving average is $110.15. UMB Financial has a 1 year low of $78.56 and a 1 year high of $129.94. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 11.16 and a beta of 0.71.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.37. The firm had revenue of $563.84 million for the quarter, compared to analyst estimates 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 was up 41.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.47 EPS. As a group, equities research analysts expect that UMB Financial will post 9.66 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On UMB Financial

A number of hedge funds have recently bought and sold shares of the company. Rothschild Investment LLC lifted its stake in UMB Financial by 442.0% during the first quarter. Rothschild Investment LLC now owns 271 shares of the bank’s stock worth $27,000 after purchasing an additional 221 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of UMB Financial by 703.2% in the 1st quarter. Versant Capital Management Inc now owns 498 shares of the bank’s stock worth $50,000 after buying an additional 436 shares during the last quarter. USA Financial Formulas boosted its holdings in shares of UMB Financial by 124.7% in the 4th quarter. USA Financial Formulas now owns 483 shares of the bank’s stock valued at $55,000 after buying an additional 268 shares during the period. Covestor Ltd grew its position in shares of UMB Financial by 28.8% during 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 last quarter. Finally, Fifth Third Bancorp raised its stake in UMB Financial by 38.1% during the first quarter. Fifth Third Bancorp now owns 624 shares of the bank’s stock worth $63,000 after acquiring an additional 172 shares during the period. 87.78% of the stock is currently owned by institutional investors and hedge funds.

About UMB Financial

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.