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

Key Points

• Morgan Stanley lowered its price target for UMB Financial from $156 to $143 but kept an overweight rating, with the new target implying about a 26.75% upside from the current price.
• UMB reported quarterly EPS of $3.08, topping estimates of $2.71, and shares traded up roughly 2.6% to $112.82 (market cap ~$8.59B) on the news.
• Overall analyst sentiment remains positive with an average rating of Buy and a consensus price target of $138.18, though individual targets now range roughly from $130 to $152 after recent revisions.

UMB Financial (NASDAQ:UMBF - Get Free Report) had its price objective dropped by equities researchers at Morgan Stanley from $156.00 to $143.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the bank's stock. Morgan Stanley's target price suggests a potential upside of 26.75% from the stock's current price.

A number of other brokerages also recently issued reports on UMBF. Keefe, Bruyette & Woods lifted their price objective on shares of UMB Financial from $133.00 to $141.00 and gave the stock an "outperform" rating in a research report on Thursday, January 29th. Raymond James Financial restated a "strong-buy" rating and issued a $145.00 target price on shares of UMB Financial in a research note on Thursday, January 29th. Weiss Ratings raised UMB Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Truist Financial decreased their price objective on UMB Financial from $150.00 to $130.00 and set a "buy" rating for the company in a report on Monday, March 23rd. Finally, Piper Sandler raised their price objective on UMB Financial from $145.00 to $152.00 and gave the stock an "overweight" rating in a research report on Thursday, January 29th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $138.18.

UMB Financial Trading Up 2.6%

Shares of UMBF stock traded up $2.84 during trading hours on Tuesday, reaching $112.82. 265,970 shares of the stock were exchanged, compared to its average volume of 547,214. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 0.78 and a beta of 0.78. UMB Financial has a 12-month low of $82.00 and a 12-month high of $136.11. The company's 50-day moving average price is $120.64 and its 200-day moving average price is $117.16. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, January 27th. The bank reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.37. The business had revenue of $469.80 million during the quarter, compared to the consensus estimate of $677.30 million. UMB Financial had a return on equity of 12.14% and a net margin of 16.90%.The business's revenue for the quarter was up 66.0% compared to the same quarter last year. During the same period last year, the company earned $2.49 earnings per share. As a group, equities analysts anticipate that UMB Financial will post 9.66 earnings per share for the current year.

Insider Activity

In other news, Director Kevin Charles Gallagher sold 388 shares of the firm's stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $129.30, for a total transaction of $50,168.40. Following the sale, the director directly owned 12,488 shares in the company, valued at $1,614,698.40. This trade represents a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg M. Graves purchased 220 shares of UMB Financial stock in a transaction that occurred on Monday, February 2nd. The stock was acquired at an average cost of $127.83 per share, with a total value of $28,122.60. Following the acquisition, the director directly owned 39,541 shares in the company, valued at $5,054,526.03. This trade represents a 0.56% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 19,102 shares of company stock valued at $2,458,247 in the last quarter. 5.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UMBF. Alliancebernstein L.P. raised its position in shares of UMB Financial by 636.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank's stock valued at $156,543,000 after buying an additional 1,286,543 shares during the period. Norges Bank acquired a new stake in UMB Financial during the second quarter worth $93,829,000. Wellington Management Group LLP raised its position in UMB Financial by 32.0% in the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank's stock valued at $366,743,000 after purchasing an additional 751,525 shares during the period. UMB Bank n.a. raised its position in UMB Financial by 11.4% in the fourth quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank's stock valued at $553,322,000 after purchasing an additional 493,875 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in shares of UMB Financial by 1,148.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 422,065 shares of the bank's stock valued at $48,554,000 after purchasing an additional 388,253 shares during the last quarter. 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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