UMB Financial (NASDAQ:UMBF) Upgraded by Truist Financial to “Strong-Buy” Rating

Truist Financial upgraded shares of UMB Financial (NASDAQ:UMBF) from a negative rating to a strong-buy rating in a research note released on Monday morning, Marketbeat.com reports.

UMBF has been the topic of several other research reports. Bank of America began coverage on UMB Financial in a research note on Wednesday, April 16th. They set a “buy” rating and a $105.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $137.00 price target (up from $132.00) on shares of UMB Financial in a report on Friday, May 2nd. Wells Fargo & Company upped their target price on UMB Financial from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 1st. StockNews.com lowered UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Finally, Royal Bank of Canada lowered their price target on UMB Financial from $128.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $120.33.

UMB Financial Stock Down 1.1%

Shares of UMBF stock opened at $106.77 on Monday. The stock’s fifty day moving average price is $97.44 and its 200 day moving average price is $109.93. UMB Financial has a 1-year low of $78.56 and a 1-year high of $129.94. The company has a market cap of $8.11 billion, a price-to-earnings ratio of 11.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.37. The business had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. The company’s revenue was up 41.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.47 earnings per share. On average, research analysts expect that UMB Financial will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial’s dividend payout ratio is currently 20.13%.

Insider Activity

In other news, CEO J Mariner Kemper sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $108.61, for a total value of $380,135.00. Following the completion of the sale, the chief executive officer now directly owns 334,347 shares in the company, valued at $36,313,427.67. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.45% of the company’s stock.

Institutional Trading of UMB Financial

Several large investors have recently added to or reduced their stakes in UMBF. Brooklyn Investment Group raised its holdings in shares of UMB Financial by 4,840.0% during the 1st quarter. Brooklyn Investment Group now owns 247 shares of the bank’s stock worth $25,000 after acquiring an additional 242 shares during the period. Rothschild Investment LLC grew its position in UMB Financial by 442.0% in the first quarter. Rothschild Investment LLC now owns 271 shares of the bank’s stock worth $27,000 after acquiring an additional 221 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of UMB Financial in the 1st quarter valued at approximately $27,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of UMB Financial in the 1st quarter worth approximately $35,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of UMB Financial by 143.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank’s stock worth $37,000 after purchasing an additional 213 shares during the period. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

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.