Piper Sandler Forecasts Strong Price Appreciation for UMB Financial (NASDAQ:UMBF) Stock

Key Points

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UMB Financial (NASDAQ:UMBF - Get Free Report) had its price target boosted by Piper Sandler from $135.00 to $148.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the bank's stock. Piper Sandler's price objective suggests a potential upside of 33.88% from the company's current price.

UMBF has been the topic of several other reports. Truist Financial raised their price objective on UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Bank of America started coverage on UMB Financial in a research report on Wednesday, April 16th. They set a "buy" rating and a $105.00 price target for the company. Barclays upped their price objective on UMB Financial from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Thursday. Royal Bank Of Canada decreased 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 report on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.11.

UMB Financial Stock Up 2.0%

UMBF stock traded up $2.16 during midday trading on Thursday, reaching $110.55. 641,254 shares of the company's stock traded hands, compared to its average volume of 589,767. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. The firm's fifty day moving average price is $104.71 and its 200-day moving average price is $104.03. UMB Financial has a 52 week low of $82.00 and a 52 week high of $129.94. The company has a market cap of $8.39 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 1.27 and a beta of 0.77.

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, beating the consensus estimate of $2.35 by $0.61. The business had revenue of $689.21 million for the quarter, compared to analysts' expectations of $638.25 million. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The firm's revenue for the quarter was up 76.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.16 EPS. As a group, sell-side analysts forecast that UMB Financial will post 9.66 earnings per share for the current fiscal year.

Insider Buying and Selling at UMB Financial

In other news, CEO J Mariner Kemper sold 5,412 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the transaction, the chief executive officer directly owned 288,945 shares in the company, valued at approximately $29,417,490.45. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.45% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake 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 buying an additional 2,570,283 shares during the period. Earnest Partners LLC bought a new stake in shares of UMB Financial during the 1st quarter valued at about $144,351,000. Dimensional Fund Advisors LP grew its holdings in shares of 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 in the last quarter. Nuveen LLC bought a new position in shares of UMB Financial in the first quarter worth approximately $51,324,000. Finally, Freestone Grove Partners LP purchased a new stake in UMB Financial in the fourth quarter valued at approximately $48,235,000. 87.78% of the stock is owned by institutional investors.

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.