Keefe, Bruyette & Woods Issues Positive Forecast for UMB Financial (NASDAQ:UMBF) Stock Price

Key Points

• Keefe, Bruyette & Woods raised UMB Financial’s price target to $160 from $155 and maintained an “outperform” rating, implying 7.91% upside from the prior close. Analysts overall rate the stock “Moderate Buy,” with an average target of $153.75.
• UMB Financial exceeded quarterly expectations, reporting $3.57 EPS versus the $3.12 consensus and revenue of $778 million versus $727.63 million expected. Shares opened at $148.27, near their 52-week high of $149.63.
• The company announced a 3-for-2 stock split effective before the market opens September 1, with shares distributed after the August 31 close; institutional investors own 87.78% of the stock.

UMB Financial (NASDAQ:UMBF - Get Free Report) had its target price raised by equities researchers at Keefe, Bruyette & Woods from $155.00 to $160.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the bank's stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 7.91% from the stock's previous close.

Several other research firms have also weighed in on UMBF. Morgan Stanley boosted their target price on shares of UMB Financial from $143.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Hovde Group raised their target price on UMB Financial from $145.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. TD Cowen upped their target price on shares of UMB Financial from $141.00 to $147.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Royal Bank Of Canada lifted their price target on UMB Financial from $138.00 to $142.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of UMB Financial in a report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $153.75.

UMB Financial Stock Performance

Shares of UMBF opened at $148.27 on Thursday. The firm has a market cap of $11.27 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 0.79 and a beta of 0.77. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The business's 50 day moving average is $138.15 and its two-hundred day moving average is $127.50. UMB Financial has a 52-week low of $103.38 and a 52-week high of $149.63.

UMB Financial shares are set to split before the market opens on Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly created shares will be payable to shareholders after the closing bell on Monday, August 31st.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.12 by $0.45. The business had revenue of $778.00 million during the quarter, compared to analyst estimates of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.59%. During the same quarter in the previous year, the firm earned $2.96 earnings per share. Analysts forecast that UMB Financial will post 12.85 EPS for the current fiscal year.

Insider Transactions at UMB Financial

In other news, President James D. Rine sold 8,246 shares of the stock in a transaction on 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Charles Gallagher sold 381 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total transaction of $50,627.28. Following the transaction, the director directly owned 12,223 shares in the company, valued at $1,624,192.24. The trade was a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.33% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Handelsbanken Fonder AB increased its stake in shares of UMB Financial by 217.0% in the second quarter. Handelsbanken Fonder AB now owns 176,840 shares of the bank's stock worth $25,246,000 after purchasing an additional 121,050 shares during the period. Friday Financial raised its stake in UMB Financial by 5.9% during the 2nd quarter. Friday Financial now owns 27,445 shares of the bank's stock valued at $4,007,000 after purchasing an additional 1,533 shares during the last quarter. GoalVest Advisory LLC bought a new position in shares of UMB Financial during the 2nd quarter worth about $131,000. GAMMA Investing LLC lifted its stake in shares of UMB Financial by 23.7% in the second quarter. GAMMA Investing LLC now owns 1,783 shares of the bank's stock valued at $255,000 after buying an additional 342 shares during the period. Finally, Versant Capital Management Inc increased its stake in UMB Financial by 48.9% during the second quarter. Versant Capital Management Inc now owns 1,298 shares of the bank's stock valued at $185,000 after acquiring an additional 426 shares during the period. 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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