UMB Financial (NASDAQ:UMBF) Price Target Raised to $120.00

UMB Financial (NASDAQ:UMBF - Free Report) had its price target hoisted by Wells Fargo & Company from $110.00 to $120.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the bank's stock.

A number of other equities analysts have also weighed in on the stock. Truist Financial assumed coverage on shares of UMB Financial in a research report on Tuesday, May 13th. They issued a "buy" rating and a $120.00 price target for the company. Royal Bank Of Canada lowered their target price on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen lowered UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Piper Sandler set a $135.00 price objective on UMB Financial and gave the company an "overweight" rating in a research report on Friday, June 13th. Finally, Morgan Stanley dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.00.

UMB Financial Stock Performance

NASDAQ UMBF traded up $0.77 during trading hours on Thursday, hitting $111.46. 369,364 shares of the company's stock traded hands, compared to its average volume of 547,537. UMB Financial has a 52 week low of $82.00 and a 52 week high of $129.94. The firm has a market capitalization of $8.46 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.29 and a beta of 0.74. 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 business's fifty day moving average price is $104.13 and its two-hundred day moving average price is $105.48.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its earnings results on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.37. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. The company had revenue of $563.84 million for the quarter, compared to analysts' expectations of $555.79 million. During the same period last year, the firm earned $2.47 EPS. UMB Financial's revenue for the quarter was up 41.4% compared to the same quarter last year. Equities research analysts predict that UMB Financial will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.44%. UMB Financial's dividend payout ratio is currently 20.13%.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $101.81, for a total transaction of $550,995.72. Following the completion of the transaction, the chief executive officer owned 288,945 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.45% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in UMBF. Vanguard Group Inc. raised its position in UMB Financial by 54.0% during the first quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank's stock valued at $741,342,000 after purchasing an additional 2,570,283 shares during the period. Dimensional Fund Advisors LP lifted its position in UMB Financial by 78.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank's stock worth $273,029,000 after buying an additional 1,185,671 shares during the last quarter. Wellington Management Group LLP boosted its stake in UMB Financial by 19.1% during the first quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank's stock worth $243,359,000 after buying an additional 385,830 shares during the period. American Century Companies Inc. increased its position in UMB Financial by 7.7% during the first quarter. American Century Companies Inc. now owns 2,054,007 shares of the bank's stock valued at $207,660,000 after acquiring an additional 146,585 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of UMB Financial by 10.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,912,883 shares of the bank's stock valued at $192,302,000 after acquiring an additional 174,088 shares during the period. 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.