UMB Financial (NASDAQ:UMBF) Earns Buy Rating from Analysts at Bank of America

Equities researchers at Bank of America initiated coverage on shares of UMB Financial (NASDAQ:UMBF) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $105.00 price target on the bank’s stock. Bank of America‘s price target suggests a potential upside of 16.07% from the stock’s current price.

UMBF has been the topic of several other reports. Wells Fargo & Company decreased their price objective on shares of UMB Financial from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. Piper Sandler boosted their target price on UMB Financial from $142.00 to $143.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Barclays reduced their price target on shares of UMB Financial from $139.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley lowered 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, Royal Bank of Canada reiterated a “sector perform” rating and set a $128.00 target price on shares of UMB Financial in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, UMB Financial has an average rating of “Moderate Buy” and a consensus target price of $122.13.

UMB Financial Trading Up 1.9 %

Shares of UMBF stock opened at $90.46 on Wednesday. UMB Financial has a 12-month low of $76.00 and a 12-month high of $129.94. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $102.14 and a 200-day moving average of $111.11. The firm has a market cap of $6.57 billion, a P/E ratio of 10.06 and a beta of 0.71.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $2.49 earnings per share 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 last year, the company posted $2.29 earnings per share. Sell-side analysts anticipate that UMB Financial will post 9.66 earnings per share for the current year.

Insider Transactions at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 3,500 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $108.61, for a total transaction of $380,135.00. Following the completion of the sale, the chief executive officer now directly owns 334,347 shares in the company, valued at $36,313,427.67. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kevin Charles Gallagher sold 527 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $114.13, for a total transaction of $60,146.51. Following the sale, the director now directly owns 13,010 shares of the company’s stock, valued at approximately $1,484,831.30. This represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.45% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in UMBF. Truist Financial Corp raised its position in shares of UMB Financial by 0.4% during the fourth quarter. Truist Financial Corp now owns 19,565 shares of the bank’s stock valued at $2,208,000 after buying an additional 83 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of UMB Financial by 1.4% in the first quarter. SummerHaven Investment Management LLC now owns 9,145 shares of the bank’s stock worth $925,000 after purchasing an additional 122 shares during the last quarter. Covestor Ltd increased its position in shares of UMB Financial by 28.8% during the fourth quarter. Covestor Ltd now owns 555 shares of the bank’s stock worth $63,000 after acquiring an additional 124 shares during the period. Heritage Family Offices LLP increased its stake 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 valued at $232,000 after buying an additional 125 shares during the period. Finally, EP Wealth Advisors LLC increased its position in UMB Financial by 5.8% during the 4th quarter. EP Wealth Advisors LLC now owns 2,361 shares of the bank’s stock valued at $266,000 after purchasing an additional 130 shares during the period. 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.