Piper Sandler Forecasts Strong Price Appreciation for UMB Financial (NASDAQ:UMBF) Stock

UMB Financial (NASDAQ:UMBF) had its target price boosted by equities research analysts at Piper Sandler from $142.00 to $143.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective would suggest a potential upside of 21.29% from the stock’s previous close.

UMBF has been the subject of several other reports. Morgan Stanley assumed coverage on shares of UMB Financial in a report on Thursday, November 21st. They set an “overweight” rating and a $156.00 price target for the company. Citigroup assumed coverage on UMB Financial in a report on Thursday, October 10th. They issued a “buy” rating and a $127.00 target price on the stock. Barclays lifted their price objective on UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Wells Fargo & Company increased their target price on UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada assumed coverage on shares of UMB Financial in a research report on Friday, November 22nd. They set a “sector perform” rating and a $130.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $126.63.

UMB Financial Trading Down 2.0 %

UMBF stock opened at $117.90 on Thursday. UMB Financial has a 1-year low of $76.00 and a 1-year high of $129.94. 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 business’s 50 day moving average is $118.91 and its 200-day moving average is $109.83. The firm has a market cap of $5.75 billion, a P/E ratio of 13.11 and a beta of 0.82.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a return on equity of 13.90% and a net margin of 15.76%. During the same period in the previous year, the business earned $2.29 EPS. Equities analysts anticipate that UMB Financial will post 9.4 earnings per share for the current fiscal year.

Insider Buying and Selling at UMB Financial

In related news, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 1,552,304 shares in the company, valued at $193,960,384.80. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Brian Beaird sold 854 shares of the firm’s 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 completion of the transaction, the insider now directly owns 5,828 shares in the company, 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. Corporate insiders own 8.85% of the company’s stock.

Hedge Funds Weigh In On UMB Financial

Several hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new position in shares of UMB Financial during the 2nd quarter worth about $2,592,000. The Manufacturers Life Insurance Company increased its stake in 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 purchasing an additional 200 shares in the last quarter. Mackenzie Financial Corp raised its holdings in UMB Financial by 104.3% in the second quarter. Mackenzie Financial Corp now owns 5,575 shares of the bank’s stock worth $465,000 after purchasing an additional 2,846 shares during the period. Creative Planning boosted its position in shares of UMB Financial by 6.6% during the second quarter. Creative Planning now owns 39,657 shares of the bank’s stock worth $3,308,000 after purchasing an additional 2,453 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in shares of 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 buying an additional 136 shares during the period. Institutional investors and hedge funds 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.