Royal Bank of Canada Initiates Coverage on UMB Financial (NASDAQ:UMBF)

Equities researchers at Royal Bank of Canada initiated coverage on shares of UMB Financial (NASDAQ:UMBF) in a research report issued on Friday, Marketbeat reports. The firm set a “sector perform” rating and a $130.00 price target on the bank’s stock. Royal Bank of Canada’s target price indicates a potential upside of 4.00% from the company’s previous close.

Several other research analysts have also issued reports on the company. Piper Sandler increased their price objective on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Citigroup initiated coverage on UMB Financial in a research note on Thursday, October 10th. They issued a “buy” rating and a $127.00 target price for the company. Wells Fargo & Company increased their price objective on shares of UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Morgan Stanley started coverage on UMB Financial in a research report on Thursday. They set an “overweight” rating and a $156.00 target price for the company. Finally, Barclays upped their price objective on shares of UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, UMB Financial presently has an average rating of “Moderate Buy” and an average price target of $122.00.

UMB Financial Trading Up 1.5 %

Shares of UMBF opened at $125.00 on Friday. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 15.63 and a beta of 0.78. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. UMB Financial has a 12-month low of $69.96 and a 12-month high of $128.73. The stock’s 50-day moving average price is $110.81 and its 200 day moving average price is $97.26.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.05. The company had revenue of $716.44 million during 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 last year, the firm earned $2.02 EPS. As a group, research analysts predict that UMB Financial will post 9.33 earnings per share for the current year.

Insider Activity at UMB Financial

In other news, Director Kris A. Robbins sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.50, for a total transaction of $512,500.00. Following the completion of the sale, the director now owns 3,211 shares in the company, valued at $329,127.50. The trade was a 60.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert Brian Beaird sold 854 shares of UMB Financial stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total value of $105,366.52. Following the sale, the insider now directly owns 5,828 shares of the company’s stock, valued at approximately $719,058.64. The trade was a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,303 shares of company stock valued at $5,830,165. 8.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in UMBF. V Square Quantitative Management LLC acquired a new stake in UMB Financial in the 3rd quarter worth about $26,000. Covestor Ltd grew its position in UMB Financial by 31.0% during the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after buying an additional 102 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in UMB Financial in the third quarter valued at about $83,000. 1620 Investment Advisors Inc. bought a new stake in shares of UMB Financial during the 2nd quarter worth approximately $128,000. Finally, Acropolis Investment Management LLC acquired a new stake in shares of UMB Financial in the 3rd quarter valued at $156,000. 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.