UMB Financial (NASDAQ:UMBF) Raised to “Strong-Buy” at Zacks Research

UMB Financial (NASDAQ:UMBF) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Raymond James Financial reaffirmed a “strong-buy” rating and set a $145.00 price target on shares of UMB Financial in a research report on Thursday, January 29th. Piper Sandler upped their target price on shares of UMB Financial from $145.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. Weiss Ratings cut shares of UMB Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Barclays restated an “overweight” rating and issued a $160.00 price objective on shares of UMB Financial in a research note on Thursday, January 29th. Finally, TD Cowen reiterated a “buy” rating on shares of UMB Financial in a research report on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, UMB Financial presently has a consensus rating of “Moderate Buy” and an average price target of $141.00.

UMB Financial Trading Up 0.8%

Shares of UMBF stock opened at $132.06 on Wednesday. The stock has a market capitalization of $10.03 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.94 and a beta of 0.79. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $120.19 and its 200 day moving average is $116.37. UMB Financial has a 12-month low of $82.00 and a 12-month high of $132.84.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.37. The firm had revenue of $469.80 million for the quarter, compared to analysts’ expectations of $677.30 million. UMB Financial had a return on equity of 12.14% and a net margin of 16.90%.The company’s revenue was up 66.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 EPS. Research analysts expect that UMB Financial will post 9.66 earnings per share for the current year.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, Director Greg M. Graves bought 220 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were bought at an average price of $127.83 per share, with a total value of $28,122.60. Following the purchase, the director owned 39,541 shares of the company’s stock, valued at $5,054,526.03. This trade represents a 0.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO J Mariner Kemper sold 15,214 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $128.59, for a total value of $1,956,368.26. Following the transaction, the chief executive officer owned 1,506,200 shares of the company’s stock, valued at $193,682,258. This represents a 1.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 34,929 shares of company stock valued at $4,269,924 over the last ninety days. 5.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UMB Financial

Several hedge funds have recently added to or reduced their stakes in UMBF. Royal Bank of Canada boosted its holdings in UMB Financial by 28.2% during the 1st quarter. Royal Bank of Canada now owns 42,829 shares of the bank’s stock valued at $4,329,000 after acquiring an additional 9,417 shares during the period. NewEdge Advisors LLC grew its stake in UMB Financial by 47.0% in the 1st quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank’s stock worth $570,000 after acquiring an additional 1,803 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of UMB Financial by 65.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 207,881 shares of the bank’s stock valued at $21,017,000 after acquiring an additional 82,083 shares in the last quarter. Jane Street Group LLC raised its stake in shares of UMB Financial by 161.7% during the first quarter. Jane Street Group LLC now owns 49,877 shares of the bank’s stock valued at $5,043,000 after acquiring an additional 30,820 shares in the last quarter. Finally, Truist Financial Corp grew its stake in UMB Financial by 0.5% in the second quarter. Truist Financial Corp now owns 20,426 shares of the bank’s stock worth $2,148,000 after purchasing an additional 97 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors.

UMB Financial Company Profile

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.