JPMorgan Chase & Co. Begins Coverage on UMB Financial (NASDAQ:UMBF)

Key Points

• JPMorgan initiated coverage of UMB Financial with an “overweight” rating and a $180 price target, implying approximately 23.2% upside from the prior close.
• Analyst sentiment is broadly positive, with UMBF holding a consensus “Moderate Buy” rating and an average price target of $165.
• UMB Financial exceeded quarterly expectations, reporting $3.57 in earnings per share versus a $3.12 consensus estimate and $778 million in revenue versus $727.63 million expected.

Research analysts at JPMorgan Chase & Co. began coverage on shares of UMB Financial (NASDAQ:UMBF - Get Free Report) in a research note issued on Thursday. The brokerage set an "overweight" rating and a $180.00 price target on the bank's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 23.20% from the company's previous close.

Several other analysts also recently weighed in on UMBF. Morgan Stanley boosted their price objective on UMB Financial from $143.00 to $159.00 and gave the company an "overweight" rating in a research report on Monday, June 29th. Stephens began coverage on shares of UMB Financial in a report on Tuesday, July 14th. They issued an "overweight" rating and a $167.00 target price on the stock. Hovde Group lifted their target price on shares of UMB Financial from $145.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Zacks Research lowered shares of UMB Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 30th. Finally, Wells Fargo & Company set a $160.00 price target on shares of UMB Financial and gave the company an "equal weight" rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $165.00.

UMB Financial Stock Down 2.6%

Shares of NASDAQ:UMBF opened at $146.10 on Thursday. The stock has a market capitalization of $11.10 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 0.74 and a beta of 0.77. The stock's 50-day moving average price is $143.36 and its 200-day moving average price is $130.15. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. UMB Financial has a 12-month low of $103.38 and a 12-month high of $153.32.

Shares of UMB Financial are scheduled to split on the morning of Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly created shares will be payable to shareholders after the market closes on Monday, August 31st.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The company had revenue of $778.00 million during the quarter, compared to analysts' expectations of $727.63 million. During the same period in the prior year, the business posted $2.96 EPS. On average, equities analysts anticipate that UMB Financial will post 13.48 earnings per share for the current year.

Insider Buying and Selling at UMB Financial

In other news, insider Robert Brian Beaird sold 1,600 shares of UMB Financial stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $144.40, for a total transaction of $231,040.00. Following the sale, the insider owned 8,943 shares of the company's stock, valued at approximately $1,291,369.20. The trade was a 15.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President James D. Rine sold 8,246 shares of the business's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the transaction, the president owned 61,446 shares in the company, valued at $8,147,125.14. This represents a 11.83% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 34,171 shares of company stock worth $4,919,826. 5.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in UMBF. Greenleaf Trust raised its position in shares of UMB Financial by 4.7% in the 2nd quarter. Greenleaf Trust now owns 2,506 shares of the bank's stock worth $358,000 after acquiring an additional 113 shares in the last quarter. United Capital Financial Advisors LLC bought a new stake in shares of UMB Financial during the second quarter valued at approximately $347,000. Equitable Holdings Inc. purchased a new stake in UMB Financial in the second quarter worth $234,000. Public Employees Retirement System of Ohio bought a new position in UMB Financial in the second quarter worth $6,071,000. Finally, Capstone Investment Advisors LLC bought a new position in UMB Financial in the second quarter worth $415,000. Hedge funds and other institutional investors own 87.78% of the company's stock.

UMB Financial Company Profile

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.

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