Wells Fargo & Company Cuts UMB Financial (NASDAQ:UMBF) Price Target to $105.00

UMB Financial (NASDAQ:UMBF) had its price objective trimmed by Wells Fargo & Company from $120.00 to $105.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

Several other analysts also recently commented on UMBF. Piper Sandler raised their price objective on UMB Financial from $142.00 to $143.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Barclays dropped their price target on UMB Financial from $139.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citigroup reiterated a “neutral” rating and issued a $127.00 price objective (down from $130.00) on shares of UMB Financial in a research report on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $128.00 target price on shares of UMB Financial in a report on Thursday, January 30th. Finally, StockNews.com upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.57.

UMB Financial Price Performance

Shares of UMBF opened at $86.40 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11. The stock has a market cap of $6.28 billion, a P/E ratio of 9.61 and a beta of 0.71. The stock’s 50-day moving average price is $103.23 and its two-hundred day moving average price is $111.31. UMB Financial has a 1 year low of $76.00 and a 1 year high of $129.94.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. During the same quarter in the previous year, the company earned $2.29 earnings per share. On average, equities analysts predict that UMB Financial will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Monday, March 10th. UMB Financial’s payout ratio is 17.80%.

Insider Activity at UMB Financial

In other UMB Financial news, Director Kevin Charles Gallagher sold 527 shares of the firm’s 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 completion of the transaction, the director now directly owns 13,010 shares in the company, valued at $1,484,831.30. This trade represents a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO J Mariner Kemper sold 3,500 shares of the company’s 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 sale, the chief executive officer now owns 334,347 shares in the company, valued at approximately $36,313,427.67. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. 5.45% of the stock is owned by insiders.

Institutional Investors Weigh In On UMB Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Affirmative Financial Network acquired a new position in UMB Financial during the first quarter worth approximately $246,000. Vest Financial LLC bought a new position in shares of UMB Financial during the 1st quarter worth approximately $761,000. Contravisory Investment Management Inc. acquired a new position in shares of UMB Financial during the 1st quarter worth approximately $260,000. Heritage Family Offices LLP raised its stake in UMB Financial by 7.6% in the 1st quarter. Heritage Family Offices LLP now owns 2,215 shares of the bank’s stock valued at $224,000 after acquiring an additional 156 shares during the period. Finally, Marquette Asset Management LLC acquired a new stake in UMB Financial during the 1st quarter valued at $82,000. 87.78% of the stock is owned by 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.