UMB Financial (NASDAQ:UMBF) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of UMB Financial (NASDAQ:UMBF) from a hold rating to a strong-buy rating in a report issued on Wednesday morning,Zacks.com reports.

UMBF has been the topic of a number of other reports. Keefe, Bruyette & Woods boosted their price target on shares of UMB Financial from $133.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Piper Sandler lifted their target price on shares of UMB Financial from $152.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Citigroup boosted their target price on UMB Financial from $120.00 to $138.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Morgan Stanley decreased their price target on UMB Financial from $156.00 to $143.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Finally, Barclays raised their price target on UMB Financial from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, UMB Financial currently has an average rating of “Buy” and an average target price of $145.55.

UMB Financial Stock Down 2.1%

Shares of NASDAQ:UMBF opened at $131.17 on Wednesday. The business has a 50-day moving average price of $117.79 and a 200 day moving average price of $117.82. 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 company has a market capitalization of $9.97 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.91 and a beta of 0.78. UMB Financial has a 12-month low of $98.16 and a 12-month high of $136.11.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, April 28th. The bank reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.59. The company had revenue of $739.16 million for the quarter, compared to analysts’ expectations of $701.79 million. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. UMB Financial’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.58 earnings per share. Sell-side analysts expect that UMB Financial will post 12.76 EPS for the current year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, June 10th. UMB Financial’s dividend payout ratio is presently 15.26%.

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. Steele Capital Management Inc. purchased a new stake in shares of UMB Financial during the third quarter worth approximately $1,468,000. Envestnet Asset Management Inc. lifted its stake in UMB Financial by 2.6% in the third quarter. Envestnet Asset Management Inc. now owns 182,721 shares of the bank’s stock worth $21,625,000 after acquiring an additional 4,589 shares during the last quarter. Strs Ohio lifted its stake in UMB Financial by 10.7% in the third quarter. Strs Ohio now owns 119,700 shares of the bank’s stock worth $14,166,000 after acquiring an additional 11,600 shares during the last quarter. Truist Financial Corp grew its holdings in UMB Financial by 42.3% during the 3rd quarter. Truist Financial Corp now owns 29,067 shares of the bank’s stock worth $3,440,000 after acquiring an additional 8,641 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in UMB Financial by 69.7% during the 3rd quarter. Federated Hermes Inc. now owns 253,708 shares of the bank’s stock worth $30,026,000 after acquiring an additional 104,182 shares in the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

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.