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

UMB Financial (NASDAQ:UMBF) had its price target decreased by equities researchers at Morgan Stanley from $156.00 to $146.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Morgan Stanley’s price objective suggests a potential upside of 48.13% from the company’s current price.

Several other brokerages have also issued reports on UMBF. Citigroup reaffirmed a “neutral” rating and issued a $127.00 target price (down previously from $130.00) on shares of UMB Financial in a research note on Monday, February 3rd. Barclays upped their price objective on shares of 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 shares of UMB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $128.00 price objective on shares of UMB Financial in a research note on Thursday, January 30th. Finally, Piper Sandler lifted their price objective on UMB Financial from $142.00 to $143.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, UMB Financial presently has a consensus rating of “Moderate Buy” and an average price target of $128.71.

UMB Financial Price Performance

Shares of NASDAQ UMBF traded down $0.43 during midday trading on Thursday, hitting $98.56. 128,610 shares of the company’s stock were exchanged, compared to its average volume of 453,729. 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 business’s fifty day moving average price is $112.54 and its two-hundred day moving average price is $112.44. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 10.96 and a beta of 0.79. UMB Financial has a 12-month low of $76.00 and a 12-month high of $129.94.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data 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 net margin of 15.76% and a return on equity of 13.73%. During the same quarter in the previous year, the company posted $2.29 EPS. As a group, research analysts forecast that UMB Financial will post 9.66 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On UMB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of UMB Financial by 403.7% in the 3rd quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock worth $91,114,000 after acquiring an additional 694,751 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in UMB Financial in the third quarter worth about $48,531,000. Freestone Grove Partners LP bought a new position in shares of UMB Financial during the fourth quarter valued at approximately $48,235,000. Captrust Financial Advisors boosted its position in shares of UMB Financial by 258.0% in the 3rd quarter. Captrust Financial Advisors now owns 392,397 shares of the bank’s stock worth $41,245,000 after purchasing an additional 282,783 shares in the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of UMB Financial by 438.8% in the 3rd quarter. Systematic Financial Management LP now owns 320,550 shares of the bank’s stock worth $33,693,000 after purchasing an additional 261,055 shares in the last quarter. Hedge funds and other 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.