UMB Financial (NASDAQ:UMBF) Shares Gap Up on Analyst Upgrade

Shares of UMB Financial Co. (NASDAQ:UMBF) gapped up prior to trading on Tuesday after Keefe, Bruyette & Woods raised their price target on the stock from $86.00 to $93.00. The stock had previously closed at $77.75, but opened at $80.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. UMB Financial shares last traded at $80.55, with a volume of 242,892 shares.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company upped their price objective on UMB Financial from $85.00 to $88.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Raymond James boosted their price objective 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. Barclays raised UMB Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $91.00 to $95.00 in a research report on Tuesday. StockNews.com upgraded UMB Financial from a “sell” rating to a “hold” rating in a research report on Saturday, March 16th. Finally, Piper Sandler increased their price objective on shares of UMB Financial from $87.50 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, UMB Financial has a consensus rating of “Moderate Buy” and an average target price of $91.67.

Insider Activity

In other news, CEO J Mariner Kemper sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $83.10, for a total value of $290,850.00. Following the sale, the chief executive officer now owns 252,114 shares of the company’s stock, valued at $20,950,673.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO J Mariner Kemper sold 3,500 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $83.10, for a total transaction of $290,850.00. Following the sale, the chief executive officer now owns 252,114 shares of the company’s stock, valued at approximately $20,950,673.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Abigail M. Wendel sold 1,182 shares of UMB Financial stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $80.70, for a total value of $95,387.40. Following the transaction, the insider now directly owns 15,217 shares of the company’s stock, valued at approximately $1,228,011.90. The disclosure for this sale can be found here. Insiders have sold 27,277 shares of company stock valued at $2,264,661 in the last 90 days. Insiders own 8.85% of the company’s stock.

Hedge Funds Weigh In On UMB Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. purchased a new position in shares of UMB Financial in the 4th quarter worth about $28,000. Headlands Technologies LLC bought a new position in UMB Financial during the third quarter valued at approximately $74,000. Quantbot Technologies LP purchased a new position in shares of UMB Financial during the third quarter worth approximately $179,000. Jones Financial Companies Lllp bought a new position in shares of UMB Financial during the 3rd quarter valued at $199,000. Finally, Atria Wealth Solutions Inc. purchased a new position in UMB Financial in the 3rd quarter worth $215,000. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

UMB Financial Price Performance

The firm’s 50 day simple moving average is $81.85 and its two-hundred day simple moving average is $77.83. The firm has a market capitalization of $3.95 billion, a P/E ratio of 11.24 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 earnings results on Wednesday, January 31st. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.53. The company had revenue of $370.80 million during the quarter, compared to analysts’ expectations of $360.69 million. UMB Financial had a return on equity of 13.75% and a net margin of 14.70%. UMB Financial’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.06 EPS. As a group, analysts predict that UMB Financial Co. will post 7.41 earnings per share for the current year.

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.