UMB Financial’s (UMBF) Strong-Buy Rating Reaffirmed at Raymond James Financial

Raymond James Financial reiterated their strong-buy rating on shares of UMB Financial (NASDAQ:UMBF) in a research note published on Thursday,Benzinga reports. They currently have a $135.00 price objective on the bank’s stock, down from their prior price objective of $138.00.

UMBF has been the topic of a number of other research reports. Morgan Stanley boosted their price objective on UMB Financial from $120.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Piper Sandler reissued an “overweight” rating and issued a $145.00 price objective (down previously from $148.00) on shares of UMB Financial in a research note on Thursday. Barclays set a $155.00 price objective on UMB Financial and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. TD Cowen began coverage on UMB Financial in a research note on Thursday, September 25th. They set a “buy” rating and a $151.00 price target on the stock. Finally, Weiss Ratings raised UMB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.20.

UMB Financial Stock Performance

UMBF opened at $107.51 on Thursday. The stock has a market cap of $8.16 billion, a PE ratio of 12.18, a P/E/G ratio of 1.11 and a beta of 0.73. The company has a current ratio of 0.75, a quick ratio of 0.77 and a debt-to-equity ratio of 0.07. UMB Financial has a 1 year low of $82.00 and a 1 year high of $129.94. The stock’s 50 day simple moving average is $118.21 and its 200-day simple moving average is $109.62.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, October 28th. The bank reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.22. The business had revenue of $678.34 million for the quarter, compared to analyst estimates of $661.60 million. UMB Financial had a return on equity of 12.15% and a net margin of 16.01%.UMB Financial’s revenue for the quarter was up 67.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.25 EPS. Sell-side analysts forecast that UMB Financial will post 9.66 EPS for the current year.

UMB Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Wednesday, December 10th will be given a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $1.72 dividend on an annualized basis and a yield of 1.6%. This is a boost from UMB Financial’s previous quarterly dividend of $0.40. UMB Financial’s payout ratio is 18.12%.

Insiders Place Their Bets

In related news, EVP Amy Harris sold 500 shares of UMB Financial stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $122.02, for a total value of $61,010.00. Following the sale, the executive vice president owned 7,285 shares of the company’s stock, valued at approximately $888,915.70. This trade represents a 6.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stacy H. King sold 1,500 shares of UMB Financial stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $118.88, for a total value of $178,320.00. Following the completion of the sale, the insider directly owned 9,472 shares in the company, valued at approximately $1,126,031.36. This represents a 13.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,845 shares of company stock worth $2,440,666 in the last 90 days. Company insiders own 5.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of UMBF. Vanguard Group Inc. grew its stake in UMB Financial by 54.0% in the first quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank’s stock valued at $741,342,000 after purchasing an additional 2,570,283 shares in the last quarter. Earnest Partners LLC bought a new position in UMB Financial in the first quarter valued at approximately $144,351,000. Alliancebernstein L.P. grew its stake in UMB Financial by 636.7% in the second quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock valued at $156,543,000 after purchasing an additional 1,286,543 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in UMB Financial by 78.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank’s stock valued at $273,029,000 after purchasing an additional 1,185,671 shares in the last quarter. Finally, Norges Bank bought a new position in UMB Financial in the second quarter valued at approximately $93,829,000. 87.78% of the stock is currently owned by 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.