UMB Financial (NASDAQ:UMBF) Now Covered by Analysts at Hovde Group

Key Points

• Hovde Group has initiated coverage on UMB Financial (NASDAQ:UMBF), assigning it an "outperform" rating.
• Analysts from multiple firms have raised their price targets for UMB Financial, with a consensus target price of $136.90 and an average rating of "Moderate Buy."
• UMB Financial reported a 76.7% increase in quarterly revenue year-over-year, with earnings per share surpassing analyst expectations.

Hovde Group began coverage on shares of UMB Financial (NASDAQ:UMBF - Get Free Report) in a report issued on Monday,Briefing.com Automated Import reports. The brokerage set an "outperform" rating on the bank's stock.

Several other research analysts have also recently weighed in on the stock. Raymond James Financial upped their price target on shares of UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. Truist Financial upped their price objective on UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Morgan Stanley raised their price target on shares of UMB Financial from $120.00 to $154.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. Barclays increased their target price on shares of UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of UMB Financial in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $136.90.

UMB Financial Stock Up 1.0%

Shares of NASDAQ UMBF opened at $119.50 on Monday. UMB Financial has a 52-week low of $82.00 and a 52-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. The stock has a market cap of $9.07 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.35 and a beta of 0.73. The firm has a 50 day moving average price of $117.74 and a 200 day moving average price of $106.79.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The company had revenue of $689.21 million for the quarter, compared to analysts' expectations of $638.25 million. During the same period last year, the firm posted $2.16 earnings per share. The business's quarterly revenue was up 76.7% compared to the same quarter last year. Analysts expect that UMB Financial will post 9.66 EPS for the current year.

Insiders Place Their Bets

In other UMB Financial news, insider Robert Brian Beaird sold 1,205 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $116.17, for a total transaction of $139,984.85. Following the sale, the insider directly owned 10,147 shares of the company's stock, valued at $1,178,776.99. The trade was a 10.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO J Mariner Kemper sold 15,523 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $116.33, for a total transaction of $1,805,790.59. Following the transaction, the chief executive officer directly owned 1,536,781 shares of the company's stock, valued at $178,773,733.73. The trade was a 1.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 678 shares of company stock worth $75,948 and have sold 20,845 shares worth $2,440,666. 5.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in UMB Financial by 54.0% in the first quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank's stock valued at $741,342,000 after buying an additional 2,570,283 shares during the period. Earnest Partners LLC acquired a new position in shares of UMB Financial in the 1st quarter valued at 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 purchasing an additional 1,286,543 shares during the period. Dimensional Fund Advisors LP grew its stake in UMB Financial by 78.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank's stock worth $273,029,000 after purchasing an additional 1,185,671 shares during the period. Finally, Norges Bank acquired a new position in UMB Financial in the second quarter valued at approximately $93,829,000. 87.78% of the stock is owned by institutional investors.

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.

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