Keefe, Bruyette & Woods Boosts UMB Financial (NASDAQ:UMBF) Price Target to $93.00

UMB Financial (NASDAQ:UMBF) had its target price upped by equities researchers at Keefe, Bruyette & Woods from $86.00 to $93.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 14.57% from the company’s previous close.

A number of other research firms have also recently commented on UMBF. Raymond James lifted their target price on shares of UMB Financial from $80.00 to $102.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 1st. Wells Fargo & Company increased their price target on UMB Financial from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Barclays upgraded UMB Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $91.00 to $95.00 in a research report on Tuesday. StockNews.com upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a research report on Saturday, March 16th. Finally, Piper Sandler raised their target price on UMB Financial from $87.50 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

UMB Financial Stock Up 4.4 %

NASDAQ UMBF traded up $3.42 during midday trading on Tuesday, hitting $81.17. 371,832 shares of the company traded hands, compared to its average volume of 243,064. UMB Financial has a 52 week low of $50.68 and a 52 week high of $87.36. The company’s 50-day simple moving average is $81.85 and its 200-day simple moving average is $77.83. The company has a market cap of $3.96 billion, a PE ratio of 11.29 and a beta of 0.83. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.72 and a quick ratio of 0.72.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Wednesday, January 31st. The bank reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.53. The company had revenue of $370.80 million for the quarter, compared to the consensus estimate of $360.69 million. UMB Financial had a return on equity of 13.75% and a net margin of 14.70%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 earnings per share. As a group, equities research analysts forecast that UMB Financial will post 7.41 earnings per share for the current year.

Insider Activity

In other UMB Financial news, CEO J Mariner Kemper sold 1,440 shares of UMB Financial stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $86.59, for a total transaction of $124,689.60. Following the sale, the chief executive officer now owns 1,762,904 shares of the company’s stock, valued at approximately $152,649,857.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Kevin Charles Gallagher sold 625 shares of UMB Financial stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $80.21, for a total transaction of $50,131.25. Following the transaction, the director now owns 12,859 shares in the company, valued at $1,031,420.39. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO J Mariner Kemper sold 1,440 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $86.59, for a total value of $124,689.60. Following the completion of the sale, the chief executive officer now owns 1,762,904 shares of the company’s stock, valued at $152,649,857.36. The disclosure for this sale can be found here. Insiders have sold a total of 27,277 shares of company stock worth $2,264,661 over the last quarter. 8.85% of the stock is currently owned by corporate insiders.

Institutional Trading of UMB Financial

Hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in UMB Financial by 73.5% in the third quarter. Wellington Management Group LLP now owns 2,586,701 shares of the bank’s stock worth $160,505,000 after acquiring an additional 1,095,630 shares during the period. Norges Bank acquired a new position in shares of UMB Financial in the 4th quarter valued at $39,376,000. Victory Capital Management Inc. grew its holdings in shares of UMB Financial by 15.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,997,303 shares of the bank’s stock worth $166,875,000 after purchasing an additional 265,399 shares during the period. GW&K Investment Management LLC acquired a new stake in shares of UMB Financial during the 4th quarter worth about $20,367,000. Finally, Dimensional Fund Advisors LP raised its holdings in UMB Financial by 11.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,544,008 shares of the bank’s stock valued at $129,005,000 after buying an additional 161,558 shares during the period. Hedge funds and other institutional investors own 87.78% of the company’s stock.

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.