UMB Financial (NASDAQ:UMBF) Coverage Initiated at Citigroup

Citigroup started coverage on shares of UMB Financial (NASDAQ:UMBF) in a report published on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $127.00 price objective on the bank’s stock.

Other equities analysts have also recently issued research reports about the company. Piper Sandler lifted their target price on UMB Financial from $102.00 to $120.00 and gave the company an overweight rating in a research note on Thursday, August 1st. Barclays lifted their target price on UMB Financial from $100.00 to $114.00 and gave the company an overweight rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lifted their target price on UMB Financial from $90.00 to $107.00 and gave the company an equal weight rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, UMB Financial has an average rating of Moderate Buy and an average target price of $105.86.

UMB Financial Trading Up 3.3 %

NASDAQ UMBF opened at $108.99 on Thursday. The firm’s 50 day moving average price is $101.33 and its two-hundred day moving average price is $90.51. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 14.06 and a beta of 0.78. UMB Financial has a twelve month low of $58.92 and a twelve month high of $109.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.73 and a current ratio of 0.73.

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

UMB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were paid a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.56 annualized dividend and a dividend yield of 1.43%. UMB Financial’s payout ratio is 20.13%.

Insider Activity at UMB Financial

In related news, EVP Amy Harris sold 736 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $95.05, for a total value of $69,956.80. Following the completion of the sale, the executive vice president now owns 2,899 shares of the company’s stock, valued at approximately $275,549.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Amy Harris sold 736 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $95.05, for a total value of $69,956.80. Following the completion of the sale, the executive vice president now directly owns 2,899 shares in the company, valued at approximately $275,549.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tamara Peterman bought 396 shares of UMB Financial stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $99.56 per share, with a total value of $39,425.76. Following the completion of the acquisition, the director now owns 7,407 shares in the company, valued at approximately $737,440.92. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 42,596 shares of company stock valued at $4,224,884. 8.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UMB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in UMBF. Vanguard Group Inc. lifted its holdings in UMB Financial by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,310,807 shares of the bank’s stock worth $360,168,000 after purchasing an additional 44,150 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of UMB Financial by 20.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,366 shares of the bank’s stock worth $532,000 after buying an additional 1,080 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of UMB Financial during the fourth quarter worth approximately $372,000. Tributary Capital Management LLC lifted its holdings in shares of UMB Financial by 19.2% during the first quarter. Tributary Capital Management LLC now owns 197,606 shares of the bank’s stock worth $17,190,000 after buying an additional 31,832 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of UMB Financial by 3.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,905,072 shares of the bank’s stock worth $165,722,000 after buying an additional 63,022 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

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.