UMB Financial (NASDAQ:UMBF) Coverage Initiated at Morgan Stanley

Stock analysts at Morgan Stanley assumed coverage on shares of UMB Financial (NASDAQ:UMBF) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $156.00 price target on the bank’s stock. Morgan Stanley’s target price suggests a potential upside of 24.80% from the company’s previous close.

Several other brokerages have also weighed in on UMBF. Citigroup assumed coverage on UMB Financial in a report on Thursday, October 10th. They issued a “buy” rating and a $127.00 price objective for the company. Piper Sandler lifted their target price on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company upped their price target on UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Barclays lifted their price objective on shares of UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, UMB Financial presently has an average rating of “Moderate Buy” and a consensus target price of $122.00.

UMB Financial Stock Performance

UMB Financial stock opened at $125.00 on Thursday. UMB Financial has a 52 week low of $69.96 and a 52 week high of $128.73. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.11. The stock has a market cap of $6.10 billion, a P/E ratio of 15.63 and a beta of 0.78. The stock has a 50 day moving average of $110.41 and a 200-day moving average of $96.96.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.05. The firm 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 14.44% and a return on equity of 13.80%. During the same period in the prior year, the firm posted $2.02 EPS. On average, analysts expect that UMB Financial will post 9.33 EPS for the current fiscal year.

Insider Transactions at UMB Financial

In related news, CEO J Mariner Kemper sold 24,300 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total value of $2,473,983.00. Following the completion of the sale, the chief executive officer now owns 1,600,904 shares of the company’s stock, valued at $162,988,036.24. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Greg M. Graves bought 258 shares of the stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $109.29 per share, for a total transaction of $28,196.82. Following the purchase, the director now owns 36,244 shares in the company, valued at $3,961,106.76. This trade represents a 0.72 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 55,303 shares of company stock worth $5,830,165. Company insiders own 8.85% of the company’s stock.

Hedge Funds Weigh In On UMB Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in shares of UMB Financial by 31.0% in the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after buying an additional 102 shares during the period. CWM LLC lifted its holdings in UMB Financial by 7.1% in the 2nd 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 last quarter. Truist Financial Corp lifted its holdings in UMB Financial by 3.3% in the 2nd quarter. Truist Financial Corp now owns 4,238 shares of the bank’s stock valued at $354,000 after acquiring an additional 136 shares during the last quarter. Commerce Bank boosted its position in shares of UMB Financial by 0.3% during the 3rd quarter. Commerce Bank now owns 41,708 shares of the bank’s stock valued at $4,384,000 after purchasing an additional 142 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of UMB Financial by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock worth $4,496,000 after purchasing an additional 200 shares during the last quarter. 87.78% of the stock is owned by 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.