UMB Financial (NASDAQ:UMBF) Earns Overweight Rating from Piper Sandler

UMB Financial (NASDAQ:UMBF)‘s stock had its “overweight” rating reissued by analysts at Piper Sandler in a research note issued to investors on Friday,Benzinga reports. They currently have a $137.00 target price on the bank’s stock, up from their prior target price of $132.00. Piper Sandler’s price target indicates a potential upside of 36.54% from the company’s previous close.

UMBF has been the topic of a number of other reports. Royal Bank of Canada cut their price target on UMB Financial from $128.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday. Morgan Stanley cut their target price on UMB Financial from $156.00 to $146.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Citigroup reaffirmed a “neutral” rating and issued a $127.00 price target (down from $130.00) on shares of UMB Financial in a report on Monday, February 3rd. Barclays cut their price objective on shares of UMB Financial from $139.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company upped their target price on shares of UMB Financial from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $120.38.

UMB Financial Price Performance

UMBF stock opened at $100.34 on Friday. UMB Financial has a 1 year low of $78.56 and a 1 year 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. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. The business’s 50-day moving average is $97.84 and its two-hundred day moving average is $110.14.

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

Insider Activity at UMB Financial

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

Institutional Trading of UMB Financial

Several hedge funds have recently made changes to their positions in UMBF. Rothschild Investment LLC raised its holdings 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 in the last quarter. Versant Capital Management Inc increased its position in UMB Financial by 703.2% during the 1st quarter. Versant Capital Management Inc now owns 498 shares of the bank’s stock worth $50,000 after purchasing an additional 436 shares during the period. USA Financial Formulas raised its stake in shares of UMB Financial by 124.7% during the 4th quarter. USA Financial Formulas now owns 483 shares of the bank’s stock worth $55,000 after buying an additional 268 shares in the last quarter. Covestor Ltd lifted its holdings 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. Finally, Fifth Third Bancorp boosted its stake in shares of UMB Financial by 38.1% in the first quarter. Fifth Third Bancorp now owns 624 shares of the bank’s stock valued at $63,000 after buying an additional 172 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.