UMB Financial (NASDAQ:UMBF) Earns Sector Perform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of UMB Financial (NASDAQ:UMBF) in a research report released on Friday morning, Marketbeat Ratings reports. The firm issued a sector perform rating and a $130.00 price objective on the bank’s stock.

Other equities analysts also recently issued reports about the stock. Barclays increased their price objective on shares of UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Citigroup started coverage on UMB Financial in a report on Thursday, October 10th. They issued a “buy” rating and a $127.00 price objective on the stock. Wells Fargo & Company increased their target price on UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Morgan Stanley began coverage on UMB Financial in a research note on Thursday. They issued an “overweight” rating and a $156.00 price target on the stock. Finally, Piper Sandler increased their price objective on UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.00.

UMB Financial Price Performance

Shares of UMB Financial stock opened at $125.00 on Friday. The firm has a market cap of $6.10 billion, a PE ratio of 15.63 and a beta of 0.78. UMB Financial has a twelve month low of $69.96 and a twelve month high of $128.73. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $110.81 and a 200 day moving average price of $97.37.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.05. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. The business had revenue of $716.44 million during the quarter, compared to analysts’ expectations of $398.83 million. During the same period in the previous year, the business earned $2.02 earnings per share. Sell-side analysts predict that UMB Financial will post 9.21 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.28%. This is a positive change from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s payout ratio is 19.50%.

Insider Buying and Selling at UMB Financial

In other news, Director Kris A. Robbins sold 5,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the sale, the director now owns 3,211 shares of the company’s stock, valued at $329,127.50. This represents a 60.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO J Mariner Kemper sold 24,300 shares of UMB Financial stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the sale, the chief executive officer now directly owns 1,600,904 shares in the company, valued at approximately $162,988,036.24. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,303 shares of company stock worth $5,830,165 in the last three months. 8.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UMB Financial

Hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in UMB Financial in the 3rd quarter valued at about $26,000. Covestor Ltd raised its stake in shares of UMB Financial by 31.0% in the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after acquiring an additional 102 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of UMB Financial in the 3rd quarter worth approximately $83,000. 1620 Investment Advisors Inc. purchased a new position in shares of UMB Financial during the 2nd quarter worth approximately $128,000. Finally, Acropolis Investment Management LLC acquired a new stake in UMB Financial in the 3rd quarter valued at approximately $156,000. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

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.