Truist Financial Has Lowered Expectations for UMB Financial (NASDAQ:UMBF) Stock Price

Key Points

• Truist Financial lowered its UMB Financial price target from $170 to $156 while maintaining a “buy” rating, implying approximately 17.6% upside from the stock’s $132.61 price.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $162.86, despite several firms recently reducing their targets.
• UMB Financial exceeded quarterly expectations, reporting $3.57 in earnings per share versus a $3.12 consensus estimate and revenue of $778 million; insiders have nevertheless sold more than 25,500 shares over the past quarter.

UMB Financial (NASDAQ:UMBF - Get Free Report) had its target price reduced by analysts at Truist Financial from $170.00 to $156.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the bank's stock. Truist Financial's target price would indicate a potential upside of 17.64% from the company's current price.

A number of other equities research analysts have also weighed in on UMBF. Keefe, Bruyette & Woods boosted their price objective on UMB Financial from $155.00 to $160.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Wells Fargo & Company dropped their target price on UMB Financial from $160.00 to $147.00 and set an "equal weight" rating for the company in a research report on Tuesday, September 29th. Piper Sandler reissued an "overweight" rating and set a $181.00 price target (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. TD Cowen reduced their price target on UMB Financial from $166.00 to $152.00 and set a "buy" rating on the stock in a report on Monday, October 5th. Finally, Morgan Stanley lowered their price objective on UMB Financial from $190.00 to $182.00 and set an "overweight" rating for the company in a research note on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $162.86.

UMB Financial Price Performance

NASDAQ:UMBF traded up $2.96 on Tuesday, hitting $132.61. The company had a trading volume of 222,977 shares, compared to its average volume of 879,017. UMB Financial has a 52 week low of $68.92 and a 52 week high of $144.36. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 0.61 and a beta of 0.82. The firm has a 50 day moving average of $138.29 and a two-hundred day moving average of $135.20.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, topping analysts' consensus estimates of $3.12 by $0.45. The firm had revenue of $778.00 million for the quarter, compared to analysts' expectations of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same quarter in the previous year, the firm posted $2.96 earnings per share. On average, research analysts anticipate that UMB Financial will post 13.53 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Nikki Farentino Newton sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total value of $297,200.00. Following the sale, the insider directly owned 11,981 shares in the company, valued at $1,780,376.60. This represents a 14.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Phillip Mason sold 800 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $147.00, for a total transaction of $117,600.00. Following the sale, the insider directly owned 8,894 shares of the company's stock, valued at $1,307,418. This represents a 8.25% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 25,544 shares of company stock valued at $3,775,862. Corporate insiders own 5.33% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MBM Wealth Consultants LLC acquired a new stake in UMB Financial in the first quarter worth $26,000. Axiom Investment Management LLC bought a new stake in UMB Financial in the first quarter valued at $28,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of UMB Financial during the second quarter valued at about $38,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of UMB Financial by 569.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 442 shares of the bank's stock valued at $51,000 after purchasing an additional 376 shares during the period. Finally, Allworth Financial LP bought a new position in shares of UMB Financial during the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 87.78% of the company's stock.

About UMB Financial

UMB Financial Corporation is a financial holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to individuals, businesses, institutions and government entities. The company serves customers through banking offices and digital channels across the Midwest and other U.S. markets.

UMB Bank offers commercial and personal banking products, including deposit accounts, loans, treasury management, payment services and credit solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.