Citigroup Reaffirms Neutral Rating for UMB Financial (NASDAQ:UMBF)

Citigroup reiterated their neutral rating on shares of UMB Financial (NASDAQ:UMBF) in a research report report published on Monday morning, Marketbeat.com reports. Citigroup currently has a $127.00 target price on the bank’s stock, down from their prior target price of $130.00.

Several other equities research analysts have also recently issued reports on the company. Barclays lifted their price objective on UMB Financial from $123.00 to $139.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Wells Fargo & Company raised their target price on shares of UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Piper Sandler raised their target price on shares of UMB Financial from $142.00 to $143.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $128.00 target price on shares of UMB Financial in a research note on Thursday, January 30th. Finally, Morgan Stanley began coverage on shares of UMB Financial in a research note on Thursday, November 21st. They issued an “overweight” rating and a $156.00 target price on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.14.

UMB Financial Trading Up 2.5 %

UMBF stock opened at $117.48 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11. UMB Financial has a 12-month low of $76.00 and a 12-month high of $129.94. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 13.07 and a beta of 0.82. The business’s 50-day moving average is $118.39 and its 200 day moving average is $110.28.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.24. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. During the same period in the previous year, the business posted $2.29 EPS. On average, sell-side analysts anticipate that UMB Financial will post 9.51 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Monday, March 10th. UMB Financial’s payout ratio is presently 17.80%.

Insider Activity

In other news, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $124.95, for a total value of $3,036,285.00. Following the sale, the chief executive officer now directly owns 1,552,304 shares in the company, valued at approximately $193,960,384.80. This trade represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Brian Beaird sold 854 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $123.38, for a total value of $105,366.52. Following the completion of the sale, the insider now owns 5,828 shares in the company, valued at approximately $719,058.64. The trade was a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,681 shares of company stock valued at $3,201,798. 8.85% of the stock is currently owned by company insiders.

Institutional Trading of UMB Financial

Several hedge funds have recently modified their holdings of UMBF. V Square Quantitative Management LLC purchased a new position in UMB Financial in the third quarter valued at $26,000. Covestor Ltd grew its holdings in shares of UMB Financial by 31.0% during the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after purchasing an additional 102 shares during the last quarter. USA Financial Formulas boosted its stake in shares of UMB Financial by 124.7% during the fourth quarter. USA Financial Formulas now owns 483 shares of the bank’s stock worth $55,000 after buying an additional 268 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of UMB Financial during the third quarter worth about $83,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of UMB Financial during the fourth quarter worth about $96,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

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.