UMB Financial (NASDAQ:UMBF) Given New $142.00 Price Target at TD Cowen

UMB Financial (NASDAQ:UMBF) had its price target reduced by analysts at TD Cowen from $149.00 to $142.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. TD Cowen’s price objective points to a potential upside of 18.31% from the stock’s current price.

Several other brokerages have also recently issued reports on UMBF. Wells Fargo & Company boosted their price target on shares of UMB Financial from $125.00 to $130.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Morgan Stanley lifted their price target on shares of UMB Financial from $120.00 to $154.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Piper Sandler reissued an “overweight” rating and set a $145.00 price objective (down previously from $148.00) on shares of UMB Financial in a research note on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of UMB Financial in a research note on Wednesday. Finally, Barclays set a $155.00 price target on UMB Financial and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, UMB Financial presently has a consensus rating of “Moderate Buy” and an average price target of $136.50.

UMB Financial Trading Down 1.2%

Shares of UMBF traded down $1.41 during mid-day trading on Wednesday, hitting $120.03. 132,652 shares of the company’s stock traded hands, compared to its average volume of 327,025. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $9.12 billion, a P/E ratio of 13.59, a PEG ratio of 1.11 and a beta of 0.78. The business’s 50-day moving average price is $113.13 and its 200-day moving average price is $113.55. UMB Financial has a 1 year low of $82.00 and a 1 year high of $126.14.

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

Insiders Place Their Bets

In other UMB Financial news, insider Nikki Farentino Newton sold 1,300 shares of UMB Financial stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $106.09, for a total value of $137,917.00. Following the completion of the sale, the insider owned 13,667 shares of the company’s stock, valued at approximately $1,449,932.03. This trade represents a 8.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Charles Gallagher sold 460 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $110.71, for a total value of $50,926.60. Following the transaction, the director directly owned 12,090 shares in the company, valued at approximately $1,338,483.90. The trade was a 3.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 17,127 shares of company stock valued at $1,949,594. 5.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in UMB Financial by 7.9% in the 2nd quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock worth $453,461,000 after purchasing an additional 313,414 shares during the period. Wellington Management Group LLP boosted its stake in shares of UMB Financial by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock worth $366,743,000 after buying an additional 751,525 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of UMB Financial by 3.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,832,827 shares of the bank’s stock worth $335,264,000 after acquiring an additional 94,451 shares during the period. Allspring Global Investments Holdings LLC increased its position in UMB Financial by 3.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,976,030 shares of the bank’s stock valued at $213,688,000 after acquiring an additional 63,147 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in UMB Financial by 6.9% in the second quarter. Geode Capital Management LLC now owns 1,846,252 shares of the bank’s stock valued at $194,173,000 after acquiring an additional 119,319 shares during the period. 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.