Brokerages Set UMB Financial Co. (NASDAQ:UMBF) Target Price at $124.00

UMB Financial Co. (NASDAQ:UMBF) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $124.00.

UMBF has been the topic of a number of recent analyst reports. Barclays lifted their price objective on shares of UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Wells Fargo & Company boosted their price target on shares of UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Morgan Stanley started coverage on shares of UMB Financial in a report on Thursday, November 21st. They issued an “overweight” rating and a $156.00 price objective for the company. Citigroup began coverage on UMB Financial in a report on Thursday, October 10th. They set a “buy” rating and a $127.00 target price on the stock. Finally, StockNews.com raised UMB Financial from a “sell” rating to a “hold” rating in a research note on Friday, December 20th.

UMB Financial Price Performance

NASDAQ UMBF opened at $115.96 on Friday. The company has a 50-day moving average price of $118.40 and a two-hundred day moving average price of $103.69. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 14.50 and a beta of 0.80. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.11. UMB Financial has a 52 week low of $76.00 and a 52 week high of $129.94.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.05. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. The business had revenue of $716.44 million during the quarter, compared to analyst estimates of $398.83 million. During the same period in the prior year, the company posted $2.02 EPS. Analysts forecast that UMB Financial will post 9.21 EPS for the current year.

UMB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.38%. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s dividend payout ratio is currently 20.00%.

Insider Transactions at UMB Financial

In other news, Director Greg M. Graves acquired 258 shares of the stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $109.29 per share, for a total transaction of $28,196.82. Following the transaction, the director now owns 36,244 shares in the company, valued at approximately $3,961,106.76. This trade represents a 0.72 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J Mariner Kemper sold 24,300 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the sale, the chief executive officer now directly owns 1,600,904 shares in the company, valued at approximately $162,988,036.24. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,603 shares of company stock valued at $8,353,950 in the last three months. 8.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of UMBF. Principal Financial Group Inc. boosted its position in UMB Financial by 403.7% during the 3rd quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock worth $91,114,000 after acquiring an additional 694,751 shares during the period. Coldstream Capital Management Inc. acquired a new stake in shares of UMB Financial during the third quarter worth approximately $218,000. Geode Capital Management LLC grew its position in UMB Financial by 1.9% during the third quarter. Geode Capital Management LLC now owns 1,114,251 shares of the bank’s stock valued at $117,139,000 after purchasing an additional 21,091 shares in the last quarter. Barclays PLC increased its stake in UMB Financial by 278.8% in the 3rd quarter. Barclays PLC now owns 231,482 shares of the bank’s stock valued at $24,329,000 after buying an additional 170,375 shares during the period. Finally, MML Investors Services LLC purchased a new stake in UMB Financial in the 3rd quarter worth approximately $208,000. Hedge funds and other 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.