UMB Financial (NASDAQ:UMBF) Price Target Cut to $142.00 by Analysts at TD Cowen

UMB Financial (NASDAQ:UMBF) had its price target lowered by TD Cowen from $149.00 to $142.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

UMBF has been the subject of several other research reports. Royal Bank Of Canada raised UMB Financial from a “sector perform” rating to an “outperform” rating and set a $128.00 price target for the company in a report on Thursday, November 6th. Morgan Stanley lifted their target price on shares of UMB Financial from $120.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Cowen reissued a “buy” rating on shares of UMB Financial in a research report on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of UMB Financial in a report on Monday, December 29th. Finally, Barclays set a $155.00 price objective on shares of UMB Financial and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, UMB Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.50.

UMB Financial Price Performance

NASDAQ UMBF opened at $120.24 on Wednesday. The firm’s fifty day simple moving average is $113.36 and its two-hundred day simple moving average is $113.65. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.07. UMB Financial has a 12-month low of $82.00 and a 12-month high of $126.14. The firm has a market capitalization of $9.13 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.12 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, October 28th. The bank reported $2.70 EPS for the quarter, beating the consensus estimate of $2.48 by $0.22. The firm had revenue of $678.34 million during the quarter, compared to analyst estimates of $661.60 million. UMB Financial had a return on equity of 12.15% and a net margin of 16.01%.The business’s revenue for the quarter was up 67.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.25 EPS. Analysts forecast that UMB Financial will post 9.66 EPS for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Wednesday, December 10th were issued a $0.43 dividend. This is an increase from UMB Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $1.72 annualized dividend and a dividend yield of 1.4%. UMB Financial’s payout ratio is currently 19.48%.

Insider Buying and Selling at UMB Financial

In related news, Director Greg M. Graves purchased 264 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $106.41 per share, with a total value of $28,092.24. Following the transaction, the director owned 38,411 shares of the company’s stock, valued at approximately $4,087,314.51. This trade represents a 0.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nikki Farentino Newton sold 1,300 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $106.09, for a total value of $137,917.00. Following the completion of the transaction, the insider directly owned 13,667 shares of the company’s stock, valued at approximately $1,449,932.03. This trade represents a 8.69% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 17,127 shares of company stock worth $1,949,594. 5.45% of the stock is currently owned by company insiders.

Institutional Trading of UMB Financial

Several hedge funds and other institutional investors have recently bought and sold shares of UMBF. Farther Finance Advisors LLC lifted its holdings in UMB Financial by 219.2% in the third quarter. Farther Finance Advisors LLC now owns 249 shares of the bank’s stock valued at $29,000 after acquiring an additional 171 shares during the period. McIlrath & Eck LLC purchased a new position in shares of UMB Financial during the 1st quarter valued at approximately $29,000. EverSource Wealth Advisors LLC increased its holdings in shares of UMB Financial by 193.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 405 shares of the bank’s stock valued at $43,000 after purchasing an additional 267 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of UMB Financial by 72.8% in the 3rd quarter. Bessemer Group Inc. now owns 420 shares of the bank’s stock valued at $50,000 after purchasing an additional 177 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in UMB Financial by 88.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 425 shares of the bank’s stock worth $50,000 after buying an additional 199 shares in the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

About UMB Financial

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.