TD Cowen Cuts UMB Financial (NASDAQ:UMBF) Price Target to $152.00

UMB Financial (NASDAQ:UMBF) had its price target reduced by TD Cowen from $166.00 to $152.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the bank’s stock.

Several other brokerages also recently weighed in on UMBF. Wells Fargo & Company cut their price target on UMB Financial from $160.00 to $147.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 29th. Truist Financial set a $170.00 target price on shares of UMB Financial and gave the company a “buy” rating in a report on Tuesday, August 4th. UBS Group began coverage on shares of UMB Financial in a report on Monday, September 14th. They set a “neutral” rating and a $155.00 price target for the company. Morgan Stanley reduced their price objective on shares of UMB Financial from $190.00 to $182.00 and set an “overweight” rating on the stock in a report on Monday, September 28th. Finally, Citigroup reiterated a “neutral” rating and set a $162.00 target price (up from $144.00) on shares of UMB Financial in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, UMB Financial currently has an average rating of “Moderate Buy” and an average price target of $164.00.

UMB Financial Trading Down 1.4%

NASDAQ UMBF opened at $128.21 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $9.74 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.64 and a beta of 0.82. The firm has a 50 day simple moving average of $140.83 and a 200-day simple moving average of $134.10. UMB Financial has a one year low of $68.92 and a one year high of $144.36.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.12 by $0.45. The company had revenue of $778.00 million for the quarter, compared to analyst estimates of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same period in the prior year, the business earned $2.96 EPS. Equities research analysts anticipate that UMB Financial will post 13.53 EPS for the current fiscal year.

UMB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, September 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. UMB Financial’s dividend payout ratio is 16.65%.

Insider Buying and Selling at UMB Financial

In other news, Director Susan G. Murphy sold 1,377 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $145.55, for a total value of $200,422.35. Following the completion of the sale, the director directly owned 10,635 shares of the company’s stock, valued at approximately $1,547,924.25. This represents a 11.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Phillip Mason sold 800 shares of UMB Financial stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $147.00, for a total transaction of $117,600.00. Following the completion of the transaction, the insider directly owned 8,894 shares in the company, valued at $1,307,418. The trade was a 8.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 25,544 shares of company stock valued at $3,775,862. 5.33% of the stock is owned by insiders.

Hedge Funds Weigh In On UMB Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cim Investment Management Inc. purchased a new stake in shares of UMB Financial during the second quarter worth approximately $258,000. Junto Capital Management LP acquired a new position in UMB Financial in the 2nd quarter valued at $58,924,000. Sequoia Financial Advisors LLC raised its position in UMB Financial by 45.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,163 shares of the bank’s stock worth $880,000 after buying an additional 1,929 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of UMB Financial in the 2nd quarter worth $102,000. Finally, Nykredit A S purchased a new stake in shares of UMB Financial in the second quarter valued at about $556,000. Hedge funds and other institutional investors own 87.78% of the company’s stock.

UMB Financial Company Profile

UMB Financial Corporation is a financial services holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to businesses, institutions, governments and individuals. The company traces its history to 1913 and has developed a regional banking franchise with additional capabilities serving customers nationwide.

UMB’s business activities include commercial and personal banking, treasury management, lending, deposit services and payment solutions.