UMB Financial (NASDAQ:UMBF) Coverage Initiated at JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. began coverage on shares of UMB Financial (NASDAQ:UMBF) in a report issued on Thursday. The firm set an “overweight” rating and a $180.00 price target on the bank’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 23.20% from the company’s current price.

Several other brokerages also recently issued reports on UMBF. Piper Sandler reiterated an “overweight” rating and issued a $181.00 target price (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Morgan Stanley boosted their price objective on shares of UMB Financial from $143.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Wells Fargo & Company set a $160.00 price objective on UMB Financial and gave the company an “equal weight” rating in a research report on Monday, August 10th. Citigroup reiterated a “neutral” rating and set a $162.00 target price (up from $144.00) on shares of UMB Financial in a research note on Friday, July 31st. Finally, Hovde Group lifted their target price on UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, UMB Financial has a consensus rating of “Moderate Buy” and an average target price of $165.00.

UMB Financial Price Performance

Shares of NASDAQ UMBF opened at $146.10 on Thursday. UMB Financial has a fifty-two week low of $103.38 and a fifty-two week high of $153.32. The company has a 50 day simple moving average of $143.36 and a two-hundred day simple moving average of $130.15. The company has a market capitalization of $11.10 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 0.74 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76.

Shares of UMB Financial are going to split on Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly issued shares will be payable to shareholders after the closing bell on Monday, August 31st.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The firm had revenue of $778.00 million for the quarter, compared to analysts’ expectations of $727.63 million. During the same period in the prior year, the firm posted $2.96 earnings per share. Analysts expect that UMB Financial will post 13.48 EPS for the current fiscal year.

Insider Transactions at UMB Financial

In other UMB Financial news, President James D. Rine sold 8,246 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $132.59, for a total value of $1,093,337.14. Following the transaction, the president owned 61,446 shares of the company’s stock, valued at approximately $8,147,125.14. This represents a 11.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Mariner Kemper sold 15,062 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $148.55, for a total value of $2,237,460.10. Following the sale, the chief executive officer directly owned 1,491,138 shares of the company’s stock, valued at $221,508,549.90. This represents a 1.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 34,171 shares of company stock worth $4,919,826. Company insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. MBM Wealth Consultants LLC purchased a new stake in shares of UMB Financial in the first quarter worth $26,000. Kemnay Advisory Services Inc. purchased a new position in shares of UMB Financial during the 4th quarter valued at $27,000. Axiom Investment Management LLC bought a new position in UMB Financial in the 1st quarter worth $28,000. Hilton Head Capital Partners LLC bought a new position in UMB Financial in the 4th quarter worth $34,000. Finally, Torren Management LLC purchased a new stake in UMB Financial in the 4th quarter worth $37,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

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.