UMB Financial (NASDAQ:UMBF) Given "Overweight" Rating at Piper Sandler

UMB Financial (NASDAQ:UMBF - Get Free Report)'s stock had its "overweight" rating reissued by analysts at Piper Sandler in a research note issued to investors on Friday,Benzinga reports. They currently have a $137.00 target price on the bank's stock, up from their previous target price of $132.00. Piper Sandler's price target would indicate a potential upside of 35.63% from the stock's previous close.

Several other equities research analysts also recently commented on UMBF. Citigroup reaffirmed a "neutral" rating and set a $127.00 target price (down from $130.00) on shares of UMB Financial in a report on Monday, February 3rd. StockNews.com raised UMB Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. Wells Fargo & Company boosted their price target on UMB Financial from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Morgan Stanley decreased their target price on UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Royal Bank of Canada cut their price objective on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, UMB Financial presently has a consensus rating of "Hold" and a consensus target price of $120.38.

UMB Financial Price Performance

Shares of NASDAQ UMBF traded up $0.92 during mid-day trading on Friday, reaching $101.01. 257,249 shares of the company traded hands, compared to its average volume of 726,359. The stock has a fifty day simple moving average of $97.51 and a 200-day simple moving average of $110.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $7.67 billion, a PE ratio of 11.24 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.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.37. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. The company had revenue of $563.84 million during the quarter, compared to analyst estimates of $555.79 million. During the same quarter last year, the firm posted $2.47 EPS. The business's revenue for the quarter was up 41.4% on a year-over-year basis. Equities research analysts anticipate 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 3,500 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $108.61, for a total transaction of $380,135.00. Following the completion of the sale, the chief executive officer now owns 334,347 shares in the company, valued at approximately $36,313,427.67. The trade was a 1.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.45% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UMB Financial

Several hedge funds have recently added to or reduced their stakes in the stock. Rothschild Investment LLC increased its position 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 in the last quarter. Neo Ivy Capital Management acquired a new position in shares of UMB Financial in the first quarter valued at approximately $42,000. Versant Capital Management Inc grew its position in UMB Financial by 703.2% in the first quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock valued at $50,000 after purchasing an additional 436 shares in the last quarter. USA Financial Formulas grew its position in shares of UMB Financial by 124.7% in the 4th quarter. USA Financial Formulas now owns 483 shares of the bank's stock valued at $55,000 after acquiring an additional 268 shares during the period. Finally, Covestor Ltd lifted its stake in UMB Financial by 28.8% in the 4th quarter. Covestor Ltd now owns 555 shares of the bank's stock valued at $63,000 after purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.

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.