UMB Financial (NASDAQ:UMBF) Given New $93.00 Price Target at Keefe, Bruyette & Woods

UMB Financial (NASDAQ:UMBF) had its target price lifted by Keefe, Bruyette & Woods from $86.00 to $93.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

Several other brokerages also recently weighed in on UMBF. StockNews.com raised shares of UMB Financial from a sell rating to a hold rating in a research report on Saturday, March 16th. Wells Fargo & Company increased their target price on UMB Financial from $85.00 to $88.00 and gave the company an equal weight rating in a report on Wednesday, April 10th. Barclays upgraded UMB Financial from an equal weight rating to an overweight rating and boosted their price target for the company from $91.00 to $95.00 in a research note on Tuesday. Piper Sandler increased their price objective on shares of UMB Financial from $87.50 to $99.00 and gave the stock an overweight rating in a research note on Thursday, February 1st. Finally, Raymond James upped their price objective on UMB Financial from $80.00 to $102.00 and gave the stock a strong-buy rating in a research note on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, UMB Financial has an average rating of Moderate Buy and an average target price of $92.00.

UMB Financial Stock Up 0.8 %

NASDAQ:UMBF opened at $82.56 on Tuesday. UMB Financial has a 1-year low of $50.68 and a 1-year high of $87.36. The company has a market capitalization of $4.02 billion, a PE ratio of 10.96 and a beta of 0.84. The firm’s 50-day moving average price is $81.87 and its 200-day moving average price is $78.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.75 and a quick ratio of 0.72.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Wednesday, January 31st. The bank reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.53. UMB Financial had a return on equity of 14.30% and a net margin of 14.59%. The business had revenue of $370.80 million during the quarter, compared to analysts’ expectations of $360.69 million. During the same quarter in the previous year, the business earned $2.06 earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities analysts predict that UMB Financial will post 7.88 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.56 annualized dividend and a dividend yield of 1.89%. UMB Financial’s dividend payout ratio (DPR) is 20.72%.

Insider Activity at UMB Financial

In related news, CEO J Mariner Kemper sold 1,440 shares of UMB Financial stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $86.59, for a total value of $124,689.60. Following the completion of the transaction, the chief executive officer now owns 1,762,904 shares in the company, valued at $152,649,857.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Abigail M. Wendel sold 1,182 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $80.70, for a total transaction of $95,387.40. Following the transaction, the insider now owns 15,217 shares of the company’s stock, valued at approximately $1,228,011.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO J Mariner Kemper sold 1,440 shares of UMB Financial stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $86.59, for a total transaction of $124,689.60. Following the transaction, the chief executive officer now directly owns 1,762,904 shares in the company, valued at $152,649,857.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,079 shares of company stock valued at $2,159,628. 8.85% of the stock is owned by corporate insiders.

Institutional Trading of UMB Financial

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of UMB Financial by 73.5% during the third quarter. Wellington Management Group LLP now owns 2,586,701 shares of the bank’s stock valued at $160,505,000 after acquiring an additional 1,095,630 shares in the last quarter. Norges Bank purchased a new stake in shares of UMB Financial during the fourth quarter valued at $39,376,000. Victory Capital Management Inc. increased its position in shares of UMB Financial by 15.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,997,303 shares of the bank’s stock valued at $166,875,000 after acquiring an additional 265,399 shares during the period. GW&K Investment Management LLC purchased a new position in UMB Financial in the 4th quarter worth $20,367,000. Finally, Dimensional Fund Advisors LP lifted its position in UMB Financial by 11.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,544,008 shares of the bank’s stock worth $129,005,000 after acquiring an additional 161,558 shares during the period. 87.78% of the stock is owned by hedge funds and other institutional investors.

About UMB Financial

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.