Royal Bank Of Canada Raises UMB Financial (NASDAQ:UMBF) Price Target to $122.00

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 upped by investment analysts at Royal Bank Of Canada from $115.00 to $122.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "sector perform" rating on the bank's stock. Royal Bank Of Canada's price objective points to a potential upside of 12.56% from the stock's previous close.

A number of other research analysts have also issued reports on UMBF. Bank of America assumed coverage on UMB Financial in a research report on Wednesday, April 16th. They set a "buy" rating and a $105.00 target price on the stock. Wall Street Zen cut shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Piper Sandler lifted their target price on shares of UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research report on Thursday. Raymond James Financial upped their price target on shares of UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a research report on Thursday. Finally, Truist Financial lifted their price objective on UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, UMB Financial presently has an average rating of "Moderate Buy" and a consensus price target of $132.11.

UMB Financial Stock Performance

NASDAQ UMBF traded down $1.60 during mid-day trading on Thursday, reaching $108.39. 855,112 shares of the stock were exchanged, compared to its average volume of 547,012. The company has a market capitalization of $8.23 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.46 and a beta of 0.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. The business's 50 day moving average is $104.71 and its 200-day moving average is $104.26. UMB Financial has a 1 year low of $82.00 and a 1 year high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its earnings results on Tuesday, July 29th. The bank reported $2.96 EPS for the quarter, beating analysts' consensus estimates of $2.35 by $0.61. The firm had revenue of $689.21 million for the quarter, compared to analysts' expectations of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%. The company's quarterly revenue was up 76.7% on a year-over-year basis. During the same period last year, the firm earned $2.16 EPS. On average, equities research analysts forecast that UMB Financial will post 9.66 EPS for the current fiscal year.

Insider Buying and Selling at UMB Financial

In related news, CEO J Mariner Kemper sold 5,412 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the sale, the chief executive officer owned 288,945 shares of the company's stock, valued at approximately $29,417,490.45. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On UMB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brooklyn Investment Group raised its position in shares of UMB Financial by 4,840.0% during the 1st quarter. Brooklyn Investment Group now owns 247 shares of the bank's stock valued at $25,000 after buying an additional 242 shares during the period. Rothschild Investment LLC grew its position in UMB Financial by 442.0% in the 1st quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock valued at $27,000 after acquiring an additional 221 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in UMB Financial during the first quarter worth about $27,000. McIlrath & Eck LLC acquired a new stake in shares of UMB Financial during the first quarter worth about $29,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of UMB Financial in the first quarter valued at approximately $35,000. 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.