TD Cowen Cuts UMB Financial (NASDAQ:UMBF) Price Target to $142.00

UMB Financial (NASDAQ:UMBF) had its price target trimmed by TD Cowen from $149.00 to $142.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

A number of other brokerages have also weighed in on UMBF. Hovde Group began coverage on UMB Financial in a research note on Monday, October 6th. They issued an “outperform” rating on the stock. Raymond James Financial reiterated a “strong-buy” rating and set a $135.00 price target (down previously from $138.00) on shares of UMB Financial in a research report on Thursday, October 30th. Morgan Stanley increased their price target on shares of UMB Financial from $120.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Weiss Ratings restated a “buy (b-)” rating on shares of UMB Financial in a report on Monday, December 29th. Finally, Royal Bank Of Canada raised UMB Financial from a “sector perform” rating to an “outperform” rating and set a $128.00 target price for the company in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.50.

UMB Financial Trading Down 1.2%

NASDAQ:UMBF opened at $121.54 on Wednesday. The stock has a market capitalization of $9.23 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. The firm’s 50 day moving average is $113.96 and its 200 day moving average is $113.82. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.07. UMB Financial has a 12 month low of $82.00 and a 12 month high of $126.14.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, October 28th. The bank reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.22. The firm had revenue of $678.34 million for the quarter, compared to analysts’ expectations of $661.60 million. UMB Financial had a return on equity of 12.15% and a net margin of 16.01%.The business’s revenue for the quarter was up 67.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.25 EPS. Sell-side analysts expect that UMB Financial will post 9.66 earnings per share for the current year.

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Wednesday, December 10th were given a dividend of $0.43 per share. This is a positive change from UMB Financial’s previous quarterly dividend of $0.40. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Wednesday, December 10th. UMB Financial’s dividend payout ratio (DPR) is currently 19.48%.

Insider Activity at UMB Financial

In other news, Director Kevin Charles Gallagher sold 460 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $110.71, for a total transaction of $50,926.60. Following the completion of the transaction, the director owned 12,090 shares in the company, valued at $1,338,483.90. This trade represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO J Mariner Kemper sold 15,367 shares of UMB Financial stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $114.58, for a total value of $1,760,750.86. Following the completion of the sale, the chief executive officer directly owned 1,521,414 shares in the company, valued at $174,323,616.12. This trade represents a 1.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 17,127 shares of company stock worth $1,949,594 in the last quarter. 5.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On UMB Financial

Several institutional investors have recently added to or reduced their stakes in UMBF. Vident Advisory LLC purchased a new stake in shares of UMB Financial during the 1st quarter worth approximately $202,000. Royal Bank of Canada grew its holdings in shares of UMB Financial by 28.2% in the first quarter. Royal Bank of Canada now owns 42,829 shares of the bank’s stock valued at $4,329,000 after purchasing an additional 9,417 shares in the last quarter. Alliancebernstein L.P. increased its position in UMB Financial by 118.1% in the first quarter. Alliancebernstein L.P. now owns 202,075 shares of the bank’s stock worth $20,430,000 after purchasing an additional 109,434 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in UMB Financial by 41.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,344 shares of the bank’s stock valued at $6,101,000 after purchasing an additional 17,696 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in UMB Financial by 47.0% during the first quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank’s stock valued at $570,000 after purchasing an additional 1,803 shares in the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

About UMB Financial

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.