UMB Financial (NASDAQ:UMBF) PT Raised to $107.00

UMB Financial (NASDAQ:UMBF) had its price target boosted by Wells Fargo & Company from $90.00 to $107.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

Several other brokerages also recently commented on UMBF. Keefe, Bruyette & Woods upgraded shares of UMB Financial from a market perform rating to an outperform rating and lifted their target price for the stock from $93.00 to $98.00 in a report on Friday, May 31st. Barclays lifted their target price on shares of UMB Financial from $95.00 to $100.00 and gave the stock an overweight rating in a report on Monday, June 24th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $102.33.

UMB Financial Stock Down 4.3 %

UMBF stock opened at $93.53 on Thursday. UMB Financial has a 12-month low of $57.91 and a 12-month high of $105.21. The company has a quick ratio of 0.75, a current ratio of 0.73 and a debt-to-equity ratio of 0.12. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 12.42 and a beta of 0.80. The company has a 50 day moving average of $86.40 and a two-hundred day moving average of $83.55.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, July 30th. The bank reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.15. The business had revenue of $390.03 million for the quarter, compared to the consensus estimate of $384.96 million. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. UMB Financial’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 EPS. On average, equities analysts anticipate that UMB Financial will post 8.98 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Tuesday, September 10th. UMB Financial’s dividend payout ratio (DPR) is 20.72%.

Insiders Place Their Bets

In other UMB Financial news, CEO J Mariner Kemper sold 8,100 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $84.00, for a total value of $680,400.00. Following the sale, the chief executive officer now directly owns 1,673,804 shares in the company, valued at $140,599,536. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 20,650 shares of company stock worth $1,723,425. Company insiders own 8.85% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of UMB Financial by 9.2% during the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock worth $409,321,000 after acquiring an additional 394,578 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of UMB Financial by 15.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,997,303 shares of the bank’s stock worth $166,875,000 after acquiring an additional 265,399 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of UMB Financial by 2.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,954,762 shares of the bank’s stock worth $163,066,000 after acquiring an additional 49,690 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of UMB Financial by 11.7% during the fourth 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 in the last quarter. Finally, Boston Trust Walden Corp increased its position in shares of UMB Financial by 0.7% during the fourth quarter. Boston Trust Walden Corp now owns 688,687 shares of the bank’s stock worth $57,540,000 after acquiring an additional 4,677 shares in the last quarter. Institutional investors own 87.78% of the company’s stock.

UMB Financial Company Profile

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.