UMB Financial (NASDAQ:UMBF) Price Target Raised to $120.00 at Wells Fargo & Company

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

A number of other brokerages have also issued reports on UMBF. Truist Financial started coverage on shares of UMB Financial in a report on Tuesday, May 13th. They issued a "buy" rating and a $120.00 price objective for the company. Bank of America began coverage on shares of UMB Financial in a research note on Wednesday, April 16th. They set a "buy" rating and a $105.00 price target for the company. Wall Street Zen lowered shares of UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Morgan Stanley decreased their price objective on UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, Piper Sandler set a $135.00 target price on UMB Financial and gave the stock an "overweight" rating in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $127.00.

UMB Financial Price Performance

Shares of NASDAQ UMBF traded down $1.25 during midday trading on Thursday, reaching $110.21. 385,630 shares of the company were exchanged, compared to its average volume of 546,570. The stock's 50-day moving average price is $103.09 and its 200-day moving average price is $104.80. The stock has a market cap of $8.37 billion, a P/E ratio of 13.86, a PEG ratio of 1.30 and a beta of 0.74. 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 has a one year low of $82.00 and a one year high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.37. The business had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. UMB Financial's quarterly revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.47 EPS. On average, sell-side analysts anticipate that UMB Financial will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Tuesday, June 10th. UMB Financial's dividend payout ratio (DPR) is presently 20.13%.

Insider Activity

In related news, CEO J Mariner Kemper sold 5,412 shares of the firm's stock in a transaction that occurred 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 document filed with the SEC, which is available at the SEC website. 5.45% of the stock is owned by corporate insiders.

Institutional Trading of UMB Financial

Several large investors have recently modified their holdings of UMBF. Vanguard Group Inc. grew 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 worth $741,342,000 after purchasing an additional 2,570,283 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of UMB Financial by 78.3% during the 1st 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 in the last quarter. Wellington Management Group LLP boosted its position in shares of UMB Financial by 19.1% during the 1st quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank's stock worth $243,359,000 after purchasing an additional 385,830 shares in the last quarter. American Century Companies Inc. grew its stake in shares of UMB Financial by 7.7% in the 1st quarter. American Century Companies Inc. now owns 2,054,007 shares of the bank's stock valued at $207,660,000 after buying an additional 146,585 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in UMB Financial by 10.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,912,883 shares of the bank's stock valued at $192,302,000 after buying an additional 174,088 shares in 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.