Wells Fargo & Company Forecasts Strong Price Appreciation for UMB Financial (NASDAQ:UMBF) Stock

Key Points

• Wells Fargo raised its price target on UMB Financial from $130 to $139, while keeping an equal weight rating. The new target still implies a slight downside from the current share price.
• Other analysts have also been positive on the stock, with several lifting their price targets; MarketBeat says UMB Financial now carries a Moderate Buy consensus and an average target of $148.91.
• UMB Financial recently reported strong quarterly results, including EPS of $3.41 versus $2.82 expected and revenue of $739.16 million, both topping estimates. Shares were trading near their 52-week high at $143.80.

UMB Financial (NASDAQ:UMBF - Get Free Report) had its price target raised by Wells Fargo & Company from $130.00 to $139.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the bank's stock. Wells Fargo & Company's price objective suggests a potential downside of 3.34% from the stock's current price.

A number of other equities research analysts have also recently issued reports on the stock. Weiss Ratings raised shares of UMB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, April 27th. Barclays increased their price objective on shares of UMB Financial from $160.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Citigroup lifted their target price on shares of UMB Financial from $138.00 to $144.00 and gave the company a "neutral" rating in a research report on Thursday, June 25th. Morgan Stanley boosted their target price on shares of UMB Financial from $143.00 to $159.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. Finally, Truist Financial set a $140.00 price target on shares of UMB Financial in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, UMB Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.91.

UMB Financial Price Performance

UMBF stock opened at $143.80 on Monday. The company has a market capitalization of $10.93 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 0.97 and a beta of 0.77. The firm's fifty day simple moving average is $132.23 and its 200-day simple moving average is $124.32. UMB Financial has a 12 month low of $103.38 and a 12 month high of $146.60. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 EPS for the quarter, topping the consensus estimate of $2.82 by $0.59. The business had revenue of $739.16 million for the quarter, compared to analyst estimates of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The business's quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 EPS. As a group, equities research analysts forecast that UMB Financial will post 12.83 earnings per share for the current year.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, President James D. Rine sold 8,246 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $132.59, for a total value of $1,093,337.14. Following the completion of the sale, the president directly owned 61,446 shares of the company's stock, valued at $8,147,125.14. This trade represents a 11.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin Charles Gallagher sold 381 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total value of $50,627.28. Following the transaction, the director owned 12,223 shares of the company's stock, valued at approximately $1,624,192.24. This represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UMB Financial

Several institutional investors have recently bought and sold shares of UMBF. B. Metzler seel. Sohn & Co. AG lifted its stake in UMB Financial by 40.8% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 38,261 shares of the bank's stock worth $4,402,000 after purchasing an additional 11,083 shares during the last quarter. Farther Finance Advisors LLC increased its stake in UMB Financial by 5,349.0% in the fourth quarter. Farther Finance Advisors LLC now owns 13,568 shares of the bank's stock valued at $1,561,000 after purchasing an additional 13,319 shares during the last quarter. Schroder Investment Management Group raised its holdings in UMB Financial by 34.0% during the third quarter. Schroder Investment Management Group now owns 503,692 shares of the bank's stock worth $59,682,000 after purchasing an additional 127,911 shares in the last quarter. Clearbridge Investments LLC raised its holdings in UMB Financial by 1.5% during the fourth quarter. Clearbridge Investments LLC now owns 614,037 shares of the bank's stock worth $70,639,000 after purchasing an additional 9,147 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of UMB Financial by 62.7% during the 1st quarter. SG Americas Securities LLC now owns 20,784 shares of the bank's stock worth $2,344,000 after buying an additional 8,013 shares during the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

About UMB Financial

UMB Financial Corporation NASDAQ: UMBF is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.

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