UMB Financial (NASDAQ:UMBF) Price Target Raised to $120.00 at Wells Fargo & Company

UMB Financial (NASDAQ:UMBF) had its price target lifted by equities research analysts at Wells Fargo & Company from $107.00 to $120.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 9.36% from the stock’s previous close.

Several other brokerages have also recently issued reports on UMBF. Barclays boosted their price objective on shares of UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup initiated coverage on shares of UMB Financial in a research report on Thursday, October 10th. They set a “buy” rating and a $127.00 target price for the company. Finally, Piper Sandler lifted their price target on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, UMB Financial has an average rating of “Moderate Buy” and a consensus target price of $115.00.

UMB Financial Price Performance

UMBF traded down $1.41 during midday trading on Thursday, reaching $109.73. 479,526 shares of the company’s stock were exchanged, compared to its average volume of 359,152. UMB Financial has a 1-year low of $61.99 and a 1-year high of $113.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.73 and a quick ratio of 0.73. The business’s 50-day moving average price is $104.82 and its 200 day moving average price is $92.80. The stock has a market capitalization of $5.35 billion, a PE ratio of 13.72 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.09. The business had revenue of $716.44 million for the quarter, compared to the consensus estimate of $398.83 million. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. During the same quarter in the prior year, the firm posted $2.02 earnings per share. As a group, equities analysts anticipate that UMB Financial will post 8.98 EPS for the current fiscal year.

Insider Buying and Selling at UMB Financial

In other news, insider Robert Brian Beaird sold 698 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $93.19, for a total transaction of $65,046.62. Following the transaction, the insider now owns 6,682 shares of the company’s stock, valued at approximately $622,695.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP John Pauls sold 1,623 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $92.97, for a total value of $150,890.31. Following the transaction, the executive vice president now directly owns 7,332 shares in the company, valued at approximately $681,656.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert Brian Beaird sold 698 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $93.19, for a total transaction of $65,046.62. Following the sale, the insider now owns 6,682 shares in the company, valued at approximately $622,695.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,596 shares of company stock worth $4,224,884 in the last 90 days. 8.85% of the stock is owned by corporate insiders.

Institutional Trading of UMB Financial

Several hedge funds have recently added to or reduced their stakes in the business. CWM LLC increased its stake in shares of UMB Financial by 7.1% during the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock valued at $162,000 after acquiring an additional 129 shares during the period. Truist Financial Corp increased its position in shares of UMB Financial by 3.3% during the 2nd quarter. Truist Financial Corp now owns 4,238 shares of the bank’s stock valued at $354,000 after purchasing an additional 136 shares during the period. Retirement Systems of Alabama raised its stake in shares of UMB Financial by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 54,848 shares of the bank’s stock worth $4,771,000 after buying an additional 144 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of UMB Financial by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock valued at $4,496,000 after buying an additional 200 shares during the period. Finally, Great Lakes Advisors LLC boosted its stake in UMB Financial by 0.4% during the second quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank’s stock valued at $4,913,000 after buying an additional 210 shares in the last quarter. Institutional investors own 87.78% of the company’s stock.

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.