Raymond James Financial Forecasts Strong Price Appreciation for UMB Financial (NASDAQ:UMBF) Stock

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UMB Financial (NASDAQ:UMBF - Get Free Report) had its target price upped by analysts at Raymond James Financial from $135.00 to $138.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "strong-buy" rating on the bank's stock. Raymond James Financial's price target points to a potential upside of 25.90% from the company's previous close.

Several other research firms also recently weighed in on UMBF. Truist Financial raised their target price on UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Friday, July 11th. 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. Royal Bank Of Canada cut their price target on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company increased their price target on UMB Financial from $110.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Finally, Piper Sandler increased their price target on UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a report on Thursday. 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 has an average rating of "Moderate Buy" and an average target price of $132.11.

UMB Financial Price Performance

Shares of NASDAQ UMBF traded up $1.22 during midday trading on Thursday, hitting $109.61. The stock had a trading volume of 33,558 shares, compared to its average volume of 665,162. The company 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. The stock has a 50 day simple moving average of $104.71 and a 200-day simple moving average of $104.03. UMB Financial has a 1 year low of $82.00 and a 1 year high of $129.94. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released 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 business had revenue of $689.21 million for the quarter, compared to the consensus estimate of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%. The business's quarterly revenue was up 76.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.16 earnings per share. On average, sell-side analysts expect that UMB Financial will post 9.66 EPS for the current fiscal year.

Insider Transactions at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total transaction 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 $29,417,490.45. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On UMB Financial

A number of institutional investors have recently modified their holdings of the company. Truist Financial Corp grew its stake in shares of UMB Financial by 0.5% in the second quarter. Truist Financial Corp now owns 20,426 shares of the bank's stock valued at $2,148,000 after buying an additional 97 shares in the last quarter. MAI Capital Management grew its stake in shares of UMB Financial by 14.7% in the first quarter. MAI Capital Management now owns 771 shares of the bank's stock valued at $78,000 after buying an additional 99 shares in the last quarter. OLD National Bancorp IN grew its stake in shares of UMB Financial by 0.4% in the second quarter. OLD National Bancorp IN now owns 22,834 shares of the bank's stock valued at $2,401,000 after buying an additional 100 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of UMB Financial by 1.4% in the first quarter. SummerHaven Investment Management LLC now owns 9,145 shares of the bank's stock valued at $925,000 after buying an additional 122 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of UMB Financial by 28.8% in the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock valued at $63,000 after buying an additional 124 shares in the last quarter. 87.78% of the stock is 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.