Morgan Stanley Cuts UMB Financial (NASDAQ:UMBF) Price Target to $146.00

UMB Financial (NASDAQ:UMBF) had its price objective cut by Morgan Stanley from $156.00 to $146.00 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the bank’s stock.

Several other equities research analysts have also recently weighed in on UMBF. Citigroup reissued a “neutral” rating and issued a $127.00 price target (down previously from $130.00) on shares of UMB Financial in a research note on Monday, February 3rd. Piper Sandler increased their price target 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 increased their price target on UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. StockNews.com upgraded UMB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $128.00 target price on shares of UMB Financial in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.71.

UMB Financial Trading Up 3.3 %

Shares of UMBF stock opened at $101.42 on Thursday. The stock’s fifty day simple moving average is $112.03 and its 200 day simple moving average is $112.40. UMB Financial has a twelve month low of $76.00 and a twelve month high of $129.94. The firm has a market capitalization of $7.36 billion, a P/E ratio of 11.28 and a beta of 0.79. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $2.49 earnings per share for the quarter, beating 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 earned $2.29 earnings per share. As a group, sell-side analysts predict that UMB Financial will post 9.66 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. Shareholders of record on Monday, March 10th will be issued a $0.40 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.60 annualized dividend and a yield of 1.58%. UMB Financial’s payout ratio is currently 17.80%.

Insiders Place Their Bets

In other UMB Financial news, Director Kevin Charles Gallagher sold 527 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $114.13, for a total value of $60,146.51. Following the transaction, the director now owns 13,010 shares in the company, valued at approximately $1,484,831.30. This represents a 3.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Mariner Kemper sold 3,500 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $108.61, for a total value of $380,135.00. Following the completion of the transaction, the chief executive officer now owns 334,347 shares in the company, valued at approximately $36,313,427.67. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.85% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of UMBF. Assetmark Inc. lifted its holdings in shares of UMB Financial by 572.8% in the third quarter. Assetmark Inc. now owns 3,162 shares of the bank’s stock valued at $332,000 after purchasing an additional 2,692 shares in the last quarter. Atria Investments Inc lifted its holdings in shares of UMB Financial by 49.1% in the third quarter. Atria Investments Inc now owns 7,619 shares of the bank’s stock valued at $801,000 after purchasing an additional 2,509 shares in the last quarter. Covestor Ltd lifted its holdings in shares of UMB Financial by 31.0% in the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after purchasing an additional 102 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of UMB Financial in the third quarter valued at approximately $362,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of UMB Financial in the third quarter valued at approximately $831,000. Institutional investors own 87.78% of the company’s stock.

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.