UMB Financial (NASDAQ:UMBF) PT Raised to $107.00

UMB Financial (NASDAQ:UMBF) had its target price increased by Wells Fargo & Company from $90.00 to $107.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods upgraded UMB Financial from a market perform rating to an outperform rating and increased their price target for the stock from $93.00 to $98.00 in a research report on Friday, May 31st. Barclays increased their price target on UMB Financial from $95.00 to $100.00 and gave the stock an overweight rating in a research report on Monday, June 24th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, UMB Financial currently has a consensus rating of Moderate Buy and a consensus price target of $102.33.

UMB Financial Stock Performance

Shares of UMBF stock opened at $93.53 on Thursday. The company has a market capitalization of $4.56 billion, a P/E ratio of 12.42 and a beta of 0.80. The business’s 50 day moving average is $86.40 and its two-hundred day moving average is $83.55. The company has a current ratio of 0.73, a quick ratio of 0.75 and a debt-to-equity ratio of 0.12. UMB Financial has a 12-month low of $57.91 and a 12-month high of $105.21.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, July 30th. The bank reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.15. The company had revenue of $390.03 million for the quarter, compared to the consensus estimate of $384.96 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. UMB Financial’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.93 earnings per share. Analysts expect that UMB Financial will post 8.98 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.67%. UMB Financial’s payout ratio is currently 20.72%.

Insider Activity at UMB Financial

In related news, CEO J Mariner Kemper sold 2,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $81.39, for a total value of $162,780.00. Following the completion of the sale, the chief executive officer now owns 1,698,104 shares of the company’s stock, valued at $138,208,684.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 20,650 shares of company stock valued at $1,723,425. 8.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UMB Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of UMB Financial by 9.2% in the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock valued at $409,321,000 after purchasing an additional 394,578 shares during the last quarter. Victory Capital Management Inc. increased its stake in UMB Financial by 15.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,997,303 shares of the bank’s stock worth $166,875,000 after acquiring an additional 265,399 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in UMB Financial by 2.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,954,762 shares of the bank’s stock worth $163,066,000 after acquiring an additional 49,690 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in UMB Financial by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,544,008 shares of the bank’s stock worth $129,005,000 after acquiring an additional 161,558 shares during the last quarter. Finally, Boston Trust Walden Corp increased its stake in UMB Financial by 0.7% during the fourth quarter. Boston Trust Walden Corp now owns 688,687 shares of the bank’s stock worth $57,540,000 after acquiring an additional 4,677 shares during the last quarter. Institutional investors and hedge funds 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.