UMB Financial (NASDAQ:UMBF) Raised to Strong-Buy at Truist Financial

Truist Financial upgraded shares of UMB Financial (NASDAQ:UMBF - Free Report) from a negative rating to a strong-buy rating in a report released on Monday, May 12th, MarketBeat Ratings reports.

A number of other analysts also recently commented on UMBF. Piper Sandler restated an "overweight" rating and set a $137.00 price objective (up from $132.00) on shares of UMB Financial in a report on Friday, May 2nd. Citigroup restated a "neutral" rating and set a $127.00 price target (down from $130.00) on shares of UMB Financial in a research note on Monday, February 3rd. Bank of America started coverage on UMB Financial in a report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price objective on the stock. 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 report on Thursday, March 13th. Finally, Royal Bank of Canada dropped their target price 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $120.33.

UMB Financial Trading Down 0.3%

UMBF traded down $0.36 during midday trading on Monday, hitting $106.50. The company's stock had a trading volume of 70,392 shares, compared to its average volume of 515,235. UMB Financial has a 52-week low of $78.56 and a 52-week high of $129.94. The firm has a 50-day moving average price of $97.93 and a two-hundred day moving average price of $109.92. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11. The firm has a market cap of $8.09 billion, a P/E ratio of 11.83 and a beta of 0.72.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, topping 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 business had revenue of $563.84 million for the quarter, compared to analysts' expectations of $555.79 million. During the same period last year, the company earned $2.47 earnings per share. The company's quarterly revenue was up 41.4% on a year-over-year basis. On average, research analysts anticipate that UMB Financial will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial's dividend payout ratio (DPR) is presently 20.13%.

Insiders Place Their Bets

In other news, CEO J Mariner Kemper sold 3,500 shares of the business'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 transaction, the chief executive officer now directly owns 334,347 shares of the company's stock, valued at approximately $36,313,427.67. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On UMB Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of UMB Financial by 278.8% during the third quarter. Barclays PLC now owns 231,482 shares of the bank's stock worth $24,329,000 after acquiring an additional 170,375 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in UMB Financial during the 4th quarter valued at approximately $1,443,000. Park Avenue Securities LLC purchased a new stake in UMB Financial during the 4th quarter worth approximately $284,000. USA Financial Formulas boosted its stake in shares of UMB Financial by 124.7% during the 4th quarter. USA Financial Formulas now owns 483 shares of the bank's stock valued at $55,000 after buying an additional 268 shares during the last quarter. Finally, Heritage Family Offices LLP grew its position in shares of UMB Financial by 6.5% during the fourth quarter. Heritage Family Offices LLP now owns 2,059 shares of the bank's stock worth $232,000 after buying an additional 125 shares in the last quarter. Hedge funds and other 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.