Wells Fargo & Company Forecasts Strong Price Appreciation for UMB Financial (NASDAQ:UMBF) Stock

Key Points

• Wells Fargo & Company raised its price target for UMB Financial from $120.00 to $125.00, indicating a potential upside of 18.07% from the current price.
• Multiple analysts have varied ratings and price targets for UMB Financial, with Piper Sandler setting a target of $148.00 and Barclays raising it to $150.00, while others issued ratings from "sell" to "strong buy."
• UMB Financial's stock recently decreased by 3.7% to $105.87, despite reporting strong earnings that surpassed analysts' estimates.

UMB Financial (NASDAQ:UMBF - Get Free Report) had its price target upped by investment analysts at Wells Fargo & Company from $120.00 to $125.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the bank's stock. Wells Fargo & Company's target price would indicate a potential upside of 12.49% from the stock's previous close.

A number of other equities analysts have also issued reports on the stock. Raymond James Financial raised their target price 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, July 31st. Bank of America initiated coverage on shares of UMB Financial in a research report on Wednesday, April 16th. They set a "buy" rating and a $105.00 target price on the stock. Barclays reissued an "overweight" rating and issued a $150.00 target price (up previously from $140.00) on shares of UMB Financial in a research note on Thursday, July 31st. Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Finally, Truist Financial increased their target price on shares of UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $132.11.

UMB Financial Stock Up 0.5%

Shares of UMBF traded up $0.57 during mid-day trading on Friday, hitting $111.12. 1,041,283 shares of the company's stock were exchanged, compared to its average volume of 671,173. The stock's 50-day moving average is $104.71 and its 200-day moving average is $104.03. The company has a market cap of $8.44 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 1.27 and a beta of 0.77. UMB Financial has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. 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 (NASDAQ:UMBF - Get Free Report) last issued its earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, beating the consensus estimate 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 net margin of 15.42% and a return on equity of 12.27%. The firm's revenue was up 76.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.16 earnings per share. On average, sell-side analysts anticipate that UMB Financial will post 9.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO J Mariner Kemper sold 5,412 shares of the 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 owned 288,945 shares of the company's stock, 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 this link. 5.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. HighTower Advisors LLC acquired a new position in shares of UMB Financial in the 4th quarter valued at $201,000. LPL Financial LLC raised its stake in shares of UMB Financial by 171.6% during the 4th quarter. LPL Financial LLC now owns 20,329 shares of the bank's stock worth $2,294,000 after purchasing an additional 12,845 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of UMB Financial by 31.0% in the 4th quarter. JPMorgan Chase & Co. now owns 415,607 shares of the bank's stock valued at $46,905,000 after acquiring an additional 98,427 shares in the last quarter. Norges Bank bought a new position in shares of UMB Financial in the 4th quarter valued at approximately $15,835,000. Finally, Pictet Asset Management Holding SA grew its holdings in UMB Financial by 25.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,791 shares of the bank's stock valued at $766,000 after buying an additional 1,369 shares during the last quarter. Institutional investors 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.