Truist Financial Begins Coverage on UMB Financial (NASDAQ:UMBF)

Analysts at Truist Financial initiated coverage on shares of UMB Financial (NASDAQ:UMBF - Get Free Report) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set a "buy" rating and a $120.00 price target on the bank's stock. Truist Financial's price objective suggests a potential upside of 12.10% from the company's current price.

Several other brokerages have also commented on UMBF. Wells Fargo & Company raised their price objective on UMB Financial from $105.00 to $110.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Royal Bank of Canada dropped their price objective on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Barclays dropped their price objective on UMB Financial from $139.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley dropped their price objective on UMB Financial from $156.00 to $146.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Piper Sandler reissued an "overweight" rating and issued a $137.00 price objective (up from $132.00) on shares of UMB Financial in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $120.33.

UMB Financial Stock Performance

UMB Financial stock traded up $0.56 during midday trading on Tuesday, hitting $107.05. 392,203 shares of the company were exchanged, compared to its average volume of 517,538. The firm has a market capitalization of $8.13 billion, a PE ratio of 11.91 and a beta of 0.72. UMB Financial has a fifty-two week low of $78.56 and a fifty-two week high of $129.94. The business has a fifty day simple moving average of $97.78 and a two-hundred day simple moving average of $109.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75.

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 the consensus estimate of $2.21 by $0.37. The firm had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. UMB Financial's revenue for the quarter was up 41.4% compared to the same quarter last year. During the same period last year, the company earned $2.47 earnings per share. On average, sell-side analysts forecast that UMB Financial will post 9.66 earnings per share for the current year.

Insider Transactions at UMB Financial

In related news, CEO J Mariner Kemper sold 3,500 shares of UMB Financial stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $108.61, for a total transaction of $380,135.00. Following the transaction, the chief executive officer now owns 334,347 shares in the company, valued at approximately $36,313,427.67. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.45% of the company's stock.

Hedge Funds Weigh In On UMB Financial

Several large investors have recently modified their holdings of UMBF. Brooklyn Investment Group raised its holdings in shares of UMB Financial by 4,840.0% in 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 raised its holdings in shares of 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 buying an additional 221 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of UMB Financial in the 1st quarter valued at $27,000. McIlrath & Eck LLC purchased a new stake in UMB Financial during the 1st quarter worth about $29,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in UMB Financial during the 1st quarter worth about $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.