UMB Financial (NASDAQ:UMBF) Now Covered by Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of UMB Financial (NASDAQ:UMBF) in a research report sent to investors on Thursday, Marketbeat.com reports. The brokerage issued an overweight rating and a $156.00 price target on the bank’s stock.

A number of other research analysts have also recently commented on UMBF. Wells Fargo & Company raised their price target on UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Citigroup began coverage on shares of UMB Financial in a research report on Thursday, October 10th. They issued a “buy” rating and a $127.00 target price for the company. Piper Sandler lifted their price objective on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Barclays upped their target price on UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.00.

UMB Financial Stock Performance

NASDAQ:UMBF opened at $123.13 on Thursday. The stock has a 50 day simple moving average of $110.41 and a 200 day simple moving average of $96.96. The stock has a market cap of $6.01 billion, a P/E ratio of 15.39 and a beta of 0.78. UMB Financial has a 1-year low of $69.96 and a 1-year high of $128.73. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.05. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. The firm had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. During the same quarter in the prior year, the business posted $2.02 EPS. Research analysts anticipate that UMB Financial will post 9.33 earnings per share for the current year.

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Tuesday, December 10th. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s payout ratio is presently 19.50%.

Insider Transactions at UMB Financial

In other news, Director Kris A. Robbins sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the transaction, the director now owns 3,211 shares of the company’s stock, valued at $329,127.50. This represents a 60.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Greg M. Graves bought 258 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $109.29 per share, for a total transaction of $28,196.82. Following the completion of the transaction, the director now owns 36,244 shares in the company, valued at $3,961,106.76. This trade represents a 0.72 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 55,303 shares of company stock worth $5,830,165. Corporate insiders own 8.85% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

Several institutional investors and hedge funds have recently made changes to their positions in UMBF. Covestor Ltd boosted its stake in UMB Financial by 31.0% during the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after acquiring an additional 102 shares in the last quarter. CWM LLC boosted its holdings in UMB Financial by 7.1% in the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after acquiring an additional 129 shares in the last quarter. Truist Financial Corp grew its stake in UMB Financial by 3.3% in the second quarter. Truist Financial Corp now owns 4,238 shares of the bank’s stock valued at $354,000 after acquiring an additional 136 shares during the period. Commerce Bank increased its holdings in shares of UMB Financial by 0.3% during the third quarter. Commerce Bank now owns 41,708 shares of the bank’s stock valued at $4,384,000 after acquiring an additional 142 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of UMB Financial by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock worth $4,496,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds 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.