Truist Financial Lowers UMB Financial (NASDAQ:UMBF) Price Target to $130.00

UMB Financial (NASDAQ:UMBF) had its target price cut by Truist Financial from $150.00 to $130.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Truist Financial’s price objective indicates a potential upside of 14.30% from the stock’s current price.

Several other brokerages have also weighed in on UMBF. TD Cowen restated a “buy” rating on shares of UMB Financial in a report on Thursday, January 29th. Barclays reiterated an “overweight” rating and set a $160.00 price target on shares of UMB Financial in a report on Thursday, January 29th. Weiss Ratings upgraded UMB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Zacks Research raised UMB Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Finally, Morgan Stanley raised their price target on shares of UMB Financial from $154.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $139.36.

UMB Financial Stock Performance

Shares of UMBF traded up $4.69 during trading hours on Monday, reaching $113.73. 131,746 shares of the company’s stock traded hands, compared to its average volume of 551,373. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 0.78 and a beta of 0.78. The business’s fifty day simple moving average is $121.83 and its two-hundred day simple moving average is $117.68. UMB Financial has a twelve month low of $82.00 and a twelve month high of $136.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, January 27th. The bank reported $3.08 EPS for the quarter, beating the consensus estimate of $2.71 by $0.37. The firm had revenue of $469.80 million for the quarter, compared to analysts’ expectations of $677.30 million. UMB Financial had a net margin of 16.90% and a return on equity of 12.14%. UMB Financial’s quarterly revenue was up 66.0% on a year-over-year basis. During the same quarter last year, the company earned $2.49 EPS. Analysts predict that UMB Financial will post 9.66 earnings per share for the current year.

Insider Buying and Selling at UMB Financial

In other news, Director Greg M. Graves purchased 220 shares of UMB Financial stock in a transaction on Monday, February 2nd. The stock was purchased at an average price of $127.83 per share, with a total value of $28,122.60. Following the transaction, the director directly owned 39,541 shares in the company, valued at $5,054,526.03. The trade was a 0.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO J Mariner Kemper sold 15,214 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $128.59, for a total transaction of $1,956,368.26. Following the transaction, the chief executive officer directly owned 1,506,200 shares of the company’s stock, valued at $193,682,258. This represents a 1.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 19,102 shares of company stock worth $2,458,247. Corporate insiders own 5.45% of the company’s stock.

Hedge Funds Weigh In On UMB Financial

Large investors have recently modified their holdings of the business. Royal Bank of Canada boosted its holdings in shares of UMB Financial by 28.2% during the 1st quarter. Royal Bank of Canada now owns 42,829 shares of the bank’s stock worth $4,329,000 after buying an additional 9,417 shares during the period. NewEdge Advisors LLC grew its stake in shares of UMB Financial by 47.0% during the first quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank’s stock worth $570,000 after buying an additional 1,803 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of UMB Financial by 65.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 207,881 shares of the bank’s stock valued at $21,017,000 after acquiring an additional 82,083 shares during the last quarter. Jane Street Group LLC raised its position in UMB Financial by 161.7% during the 1st quarter. Jane Street Group LLC now owns 49,877 shares of the bank’s stock worth $5,043,000 after purchasing an additional 30,820 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in UMB Financial by 6.8% during the 2nd quarter. Cetera Investment Advisers now owns 4,232 shares of the bank’s stock worth $445,000 after buying an additional 269 shares during the period. 87.78% of the stock is currently owned by institutional investors and hedge funds.

UMB Financial Company Profile

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.