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

UMB Financial (NASDAQ:UMBF - Get Free Report) was upgraded by stock analysts at Truist Financial from a "negative" rating to a "strong-buy" rating in a note issued to investors on Monday, Marketbeat.com reports.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada cut their price target 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. Bank of America began coverage on shares of UMB Financial in a report on Wednesday, April 16th. They set a "buy" rating and a $105.00 price objective for the company. Citigroup reaffirmed a "neutral" rating and set a $127.00 price objective (down from $130.00) on shares of UMB Financial in a report on Monday, February 3rd. Morgan Stanley dropped their price objective on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, StockNews.com downgraded shares of UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $120.33.

UMB Financial Stock Down 1.1%

Shares of NASDAQ:UMBF opened at $106.77 on Monday. The firm has a fifty day moving average price of $97.44 and a two-hundred day moving average price of $109.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. UMB Financial has a one year low of $78.56 and a one year high of $129.94. The company has a market cap of $8.11 billion, a price-to-earnings ratio of 11.88 and a beta of 0.72.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, beating 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 firm had revenue of $563.84 million during the quarter, compared to the consensus estimate of $555.79 million. During the same period last year, the firm earned $2.47 EPS. The business's quarterly revenue was up 41.4% compared to the same quarter last year. Analysts anticipate that UMB Financial will post 9.66 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO J Mariner Kemper sold 3,500 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $108.61, for a total value of $380,135.00. Following the transaction, the chief executive officer now owns 334,347 shares in the company, valued at approximately $36,313,427.67. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UMBF. Vanguard Group Inc. lifted 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. Earnest Partners LLC bought a new position in UMB Financial during the first quarter valued at approximately $144,351,000. Dimensional Fund Advisors LP lifted its position 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 valued at $273,029,000 after purchasing an additional 1,185,671 shares during the period. Nuveen LLC bought a new position in UMB Financial during the first quarter valued at approximately $51,324,000. Finally, Freestone Grove Partners LP bought a new position in UMB Financial during the fourth quarter valued at approximately $48,235,000. Institutional investors 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.

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