UMB Financial (NASDAQ:UMBF) Given New $143.00 Price Target at Piper Sandler

UMB Financial (NASDAQ:UMBF) had its price target raised by Piper Sandler from $142.00 to $143.00 in a report released on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the bank’s stock.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada started coverage on UMB Financial in a report on Friday, November 22nd. They set a “sector perform” rating and a $130.00 price target on the stock. Barclays raised their price target on UMB Financial from $123.00 to $139.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Citigroup assumed coverage on shares of UMB Financial in a research note on Thursday, October 10th. They set a “buy” rating and a $127.00 target price for the company. Morgan Stanley initiated coverage on UMB Financial in a research report on Thursday, November 21st. They issued an “overweight” rating and a $156.00 price target on the stock. Finally, StockNews.com raised UMB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, UMB Financial has a consensus rating of “Moderate Buy” and an average price target of $126.63.

UMB Financial Stock Down 1.8 %

Shares of NASDAQ UMBF opened at $120.30 on Thursday. The stock has a market capitalization of $5.87 billion, a P/E ratio of 13.38 and a beta of 0.82. UMB Financial has a one year low of $76.00 and a one year high of $129.94. The firm’s 50 day simple moving average is $119.10 and its two-hundred day simple moving average is $109.58. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, January 28th. The bank reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a net margin of 15.76% and a return on equity of 13.90%. During the same period in the previous year, the firm posted $2.29 EPS. As a group, analysts expect that UMB Financial will post 9.4 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.33%. UMB Financial’s dividend payout ratio is currently 17.80%.

Insider Transactions at UMB Financial

In other UMB Financial news, insider Robert Brian Beaird sold 854 shares of UMB Financial stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $123.38, for a total transaction of $105,366.52. Following the transaction, the insider now owns 5,828 shares of the company’s stock, valued at $719,058.64. The trade was a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J Mariner Kemper sold 24,300 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $124.95, for a total value of $3,036,285.00. Following the sale, the chief executive officer now directly owns 1,552,304 shares in the company, valued at approximately $193,960,384.80. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in shares of UMB Financial by 403.7% during the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock valued at $91,114,000 after buying an additional 694,751 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in UMB Financial in the 3rd quarter valued at $48,531,000. Captrust Financial Advisors lifted its stake in UMB Financial by 258.0% in the 3rd quarter. Captrust Financial Advisors now owns 392,397 shares of the bank’s stock worth $41,245,000 after purchasing an additional 282,783 shares in the last quarter. Systematic Financial Management LP boosted its holdings in shares of UMB Financial by 438.8% during the 3rd quarter. Systematic Financial Management LP now owns 320,550 shares of the bank’s stock valued at $33,693,000 after purchasing an additional 261,055 shares during the last quarter. Finally, Holocene Advisors LP purchased a new stake in shares of UMB Financial in the third quarter worth about $18,838,000. 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.