Weiss Ratings Upgrades UMB Financial (NASDAQ:UMBF) to "Buy (B-)"

Key Points

• Weiss Ratings upgraded UMB Financial from a "hold (C+)" rating to a "buy (B-)" rating, indicating improved confidence from analysts.
• A number of brokerages have raised their price targets for UMB Financial, with current average ratings showing a "Moderate Buy" and a price target of $138.00.
• UMB Financial's recent quarterly earnings surpassed expectations, reporting $2.96 EPS compared to estimates of $2.35, along with a significant year-over-year revenue increase of 76.7%.

UMB Financial (NASDAQ:UMBF - Get Free Report) was upgraded by analysts at Weiss Ratings from a "hold (c+)" rating to a "buy (b-)" rating in a research report issued on Friday,Weiss Ratings reports.

A number of other brokerages have also issued reports on UMBF. Piper Sandler raised their price target on shares of UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Barclays set a $155.00 price target on shares of UMB Financial and gave the stock an "overweight" rating in a report on Wednesday, October 8th. Raymond James Financial raised their price target on shares of UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Royal Bank Of Canada raised their price target on shares of UMB Financial from $122.00 to $128.00 and gave the stock a "sector perform" rating in a report on Friday, October 10th. Finally, Wells Fargo & Company raised their price target on shares of UMB Financial from $125.00 to $130.00 and gave the stock an "equal weight" rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $138.00.

UMB Financial Trading Up 2.2%

NASDAQ:UMBF traded up $2.40 during trading hours on Friday, reaching $113.57. The company's stock had a trading volume of 462,091 shares, compared to its average volume of 408,171. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.13 and a beta of 0.73. The firm has a 50-day simple moving average of $118.64 and a 200-day simple moving average of $108.94. UMB Financial has a 1 year low of $82.00 and a 1 year high of $129.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio 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 (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. The business had revenue of $689.21 million for the quarter, compared to analyst estimates of $638.25 million. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The company's revenue was up 76.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.16 EPS. Research analysts expect that UMB Financial will post 9.66 EPS for the current fiscal year.

Insider Transactions at UMB Financial

In other news, insider Shannon Andresen Johnson sold 1,367 shares of UMB Financial stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $120.58, for a total value of $164,832.86. Following the completion of the transaction, the insider owned 34,124 shares of the company's stock, valued at $4,114,671.92. The trade was a 3.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Phillip James Mason sold 750 shares of UMB Financial stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $120.97, for a total transaction of $90,727.50. Following the completion of the transaction, the insider directly owned 8,815 shares of the company's stock, valued at $1,066,350.55. This trade represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 678 shares of company stock worth $75,948 and have sold 20,845 shares worth $2,440,666. 5.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Brooklyn Investment Group raised its holdings in UMB Financial by 4,840.0% in the first quarter. Brooklyn Investment Group now owns 247 shares of the bank's stock worth $25,000 after buying an additional 242 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of UMB Financial during the first quarter valued at approximately $27,000. McIlrath & Eck LLC purchased a new position in shares of UMB Financial during the first quarter valued at approximately $29,000. Farther Finance Advisors LLC raised its holdings in shares of UMB Financial by 219.2% during the third quarter. Farther Finance Advisors LLC now owns 249 shares of the bank's stock valued at $29,000 after purchasing an additional 171 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of UMB Financial during the first quarter valued at approximately $35,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.