Truist Financial Issues Positive Forecast for UMB Financial (NASDAQ:UMBF) Stock Price

UMB Financial (NASDAQ:UMBF - Get Free Report) had its target price upped by Truist Financial from $120.00 to $128.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the bank's stock. Truist Financial's price target indicates a potential upside of 15.43% from the stock's current price.

A number of other analysts also recently commented on the company. Wells Fargo & Company boosted their target price on UMB Financial from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday. Barclays boosted their price target on UMB Financial from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday. Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Bank of America initiated coverage on UMB Financial in a report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price target for the company. Finally, Piper Sandler set a $135.00 price target on UMB Financial and gave the stock an "overweight" rating in a report on Friday, June 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $127.00.

UMB Financial Price Performance

UMBF traded down $0.57 during trading on Friday, reaching $110.89. 39,750 shares of the stock were exchanged, compared to its average volume of 545,538. The business's 50 day moving average price is $104.13 and its two-hundred day moving average price is $105.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 1.29 and a beta of 0.74. 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, April 29th. The bank reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.37. The company had revenue of $563.84 million for the quarter, compared to the consensus estimate of $555.79 million. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. UMB Financial's quarterly revenue was up 41.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.47 earnings per share. As a group, equities research analysts anticipate that UMB Financial will post 9.66 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO J Mariner Kemper sold 5,412 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 288,945 shares in the company, valued at approximately $29,417,490.45. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.45% of the company's stock.

Hedge Funds Weigh In On UMB Financial

Several institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its stake in UMB Financial by 1.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,540 shares of the bank's stock valued at $2,156,000 after purchasing an additional 207 shares during the last quarter. Voya Investment Management LLC increased its stake in UMB Financial by 40.7% in the first quarter. Voya Investment Management LLC now owns 64,510 shares of the bank's stock valued at $6,522,000 after purchasing an additional 18,670 shares during the last quarter. Strs Ohio acquired a new position in UMB Financial in the first quarter valued at $10,848,000. Intech Investment Management LLC increased its stake in UMB Financial by 52.5% in the first quarter. Intech Investment Management LLC now owns 34,552 shares of the bank's stock valued at $3,493,000 after purchasing an additional 11,900 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in UMB Financial by 161.7% during the first quarter. Jane Street Group LLC now owns 49,877 shares of the bank's stock worth $5,043,000 after acquiring an additional 30,820 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

About UMB Financial

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.

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