Morgan Stanley Cuts UMB Financial (NASDAQ:UMBF) Price Target to $143.00

UMB Financial (NASDAQ:UMBF) had its price objective trimmed by Morgan Stanley from $156.00 to $143.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

Other equities research analysts have also issued reports about the company. Piper Sandler upped their price target on UMB Financial from $145.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Citigroup boosted their target price on shares of UMB Financial from $120.00 to $138.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Barclays reissued an “overweight” rating and set a $160.00 target price on shares of UMB Financial in a report on Thursday, January 29th. TD Cowen restated a “buy” rating on shares of UMB Financial in a research report on Thursday, January 29th. Finally, Weiss Ratings raised shares of UMB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $138.18.

UMB Financial Stock Up 0.3%

NASDAQ:UMBF opened at $115.04 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.82 and a beta of 0.75. UMB Financial has a one year low of $82.00 and a one year high of $136.11. The stock has a 50-day simple moving average of $120.05 and a 200 day simple moving average of $117.07.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $3.08 earnings per share (EPS) 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%.UMB Financial’s revenue for the quarter was up 66.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.49 earnings per share. Sell-side analysts predict that UMB Financial will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Tuesday, March 10th were given a dividend of $0.43 per share. The ex-dividend date was Tuesday, March 10th. This represents a $1.72 dividend on an annualized basis and a yield of 1.5%. UMB Financial’s payout ratio is currently 18.84%.

Insider Buying and Selling

In related news, Director Greg M. Graves bought 220 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were purchased at an average cost of $127.83 per share, with a total value of $28,122.60. Following the completion of the transaction, the director directly owned 39,541 shares of the company’s stock, valued at approximately $5,054,526.03. This represents a 0.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kevin Charles Gallagher sold 388 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $129.30, for a total value of $50,168.40. Following the completion of the sale, the director owned 12,488 shares in the company, valued at $1,614,698.40. The trade was a 3.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 19,102 shares of company stock worth $2,458,247 in the last three months. 5.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new position in UMB Financial in the 4th quarter worth about $27,000. Farther Finance Advisors LLC raised its holdings in shares of UMB Financial by 219.2% during the third quarter. Farther Finance Advisors LLC now owns 249 shares of the bank’s stock valued at $29,000 after buying an additional 171 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of UMB Financial during the fourth quarter worth approximately $34,000. Torren Management LLC bought a new position in UMB Financial in the 4th quarter worth approximately $37,000. Finally, EverSource Wealth Advisors LLC grew its holdings in UMB Financial by 193.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 405 shares of the bank’s stock worth $43,000 after buying an additional 267 shares in the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

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.