UMB Financial (NASDAQ:UMBF) Given New $144.00 Price Target at Truist Financial

Key Points

• Truist Financial has raised its price target for UMB Financial from $130.00 to $144.00, indicating a potential upside of 15.91% from its current price.
• UMB Financial reported $2.96 EPS for the last quarter, exceeding the estimate of $2.35, with a 76.7% year-over-year increase in revenue.
• Insider activity shows significant sales, with insiders selling a total of approximately $2.4 million worth of shares over the last three months.

UMB Financial (NASDAQ:UMBF - Get Free Report) had its target price increased by equities research analysts at Truist Financial from $130.00 to $144.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the bank's stock. Truist Financial's price objective would indicate a potential upside of 15.91% from the company's current price.

A number of other research firms also recently weighed in on UMBF. Wells Fargo & Company raised their price target on UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Piper Sandler upped their price target on UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Raymond James Financial upped their target price on UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. Royal Bank Of Canada raised their price target on UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Finally, Barclays increased their price objective on UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, UMB Financial currently has an average rating of "Moderate Buy" and a consensus target price of $133.89.

UMB Financial Trading Down 0.2%

UMBF traded down $0.24 during midday trading on Monday, hitting $124.24. The company's stock had a trading volume of 89,314 shares, compared to its average volume of 648,237. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The firm has a market cap of $9.43 billion, a P/E ratio of 14.26, a PEG ratio of 1.42 and a beta of 0.77. The firm has a 50-day moving average price of $111.66 and a two-hundred day moving average price of $104.42. UMB Financial has a 52-week low of $82.00 and a 52-week high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.61. The company had revenue of $689.21 million during 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 revenue for the quarter was up 76.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.16 earnings per share. On average, research analysts anticipate that UMB Financial will post 9.66 earnings per share for the current year.

Insider Activity

In related news, insider Phillip James Mason sold 750 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $120.97, for a total transaction of $90,727.50. Following the completion of the sale, the insider directly owned 8,815 shares of the company's stock, valued at approximately $1,066,350.55. This trade represents a 7.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stacy H. King sold 1,500 shares of UMB Financial stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $118.88, for a total transaction of $178,320.00. Following the completion of the sale, the insider owned 9,472 shares in the company, valued at approximately $1,126,031.36. This represents a 13.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 678 shares of company stock worth $75,948 and sold 20,845 shares worth $2,440,666. 5.45% of the stock is owned by insiders.

Hedge Funds Weigh In On UMB Financial

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of UMB Financial by 54.0% in the first quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank's stock worth $741,342,000 after purchasing an additional 2,570,283 shares in the last quarter. Earnest Partners LLC bought a new position in UMB Financial during the first quarter worth about $144,351,000. Alliancebernstein L.P. grew its stake in UMB Financial by 636.7% during the second quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank's stock worth $156,543,000 after buying an additional 1,286,543 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of UMB Financial by 78.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank's stock valued at $273,029,000 after purchasing an additional 1,185,671 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of UMB Financial in the 2nd quarter valued at approximately $93,829,000. 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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