Royal Bank Of Canada Issues Positive Forecast for UMB Financial (NASDAQ:UMBF) Stock Price

Key Points

• Royal Bank of Canada raised its price target for UMB Financial from $115.00 to $122.00, indicating an 11% potential upside from the current stock price.
• Various analysts have given UMB Financial mixed ratings, with Truist Financial and Piper Sandler setting higher targets of $128 and $148, respectively, while Barclays maintains a $150 price objective.
• UMB Financial reported $2.96 earnings per share for the last quarter, exceeding expectations and showing a significant revenue increase of 76.7% year-over-year.

UMB Financial (NASDAQ:UMBF - Get Free Report) had its price target boosted by equities research analysts at Royal Bank Of Canada from $115.00 to $122.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "sector perform" rating on the bank's stock. Royal Bank Of Canada's target price suggests a potential upside of 11.30% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company boosted their price target on shares of UMB Financial from $110.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Raymond James Financial boosted their price target on shares of UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a report on Thursday. Wall Street Zen lowered shares of UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Piper Sandler boosted their price target on shares of UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Bank of America started coverage on shares of UMB Financial in a report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price target for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $132.11.

UMB Financial Trading Up 1.1%

UMBF traded up $1.23 during trading on Thursday, reaching $109.62. 33,558 shares of the company's stock were exchanged, compared to its average volume of 665,162. The company's fifty day moving average price is $104.71 and its 200-day moving average price is $104.03. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. UMB Financial has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. The firm has a market capitalization of $8.32 billion, a PE ratio of 12.61, a P/E/G ratio of 1.27 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, July 29th. The bank reported $2.96 EPS for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The firm had revenue of $689.21 million during the quarter, compared to analyst estimates of $638.25 million. During the same quarter in the previous year, the business earned $2.16 EPS. The business's quarterly revenue was up 76.7% compared to the same quarter last year. As a group, equities analysts forecast that UMB Financial will post 9.66 EPS for the current year.

Insider Buying and Selling at UMB Financial

In other news, CEO J Mariner Kemper sold 5,412 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $101.81, for a total transaction of $550,995.72. Following the transaction, the chief executive officer directly owned 288,945 shares in the company, valued at $29,417,490.45. The trade was a 1.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Whalen Wealth Management Inc. acquired a new position in UMB Financial in the 2nd quarter valued at about $398,000. Nisa Investment Advisors LLC grew its stake in UMB Financial by 2.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 19,118 shares of the bank's stock valued at $2,018,000 after buying an additional 511 shares during the last quarter. Focus Partners Advisor Solutions LLC grew its stake in UMB Financial by 3.9% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 26,087 shares of the bank's stock valued at $2,743,000 after buying an additional 986 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in UMB Financial in the 2nd quarter valued at about $694,000. Finally, Ethic Inc. grew its stake in UMB Financial by 26.0% in the 2nd quarter. Ethic Inc. now owns 2,889 shares of the bank's stock valued at $306,000 after buying an additional 597 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.

UMB Financial Company Profile

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.