Raymond James Financial Upgrades UMB Financial (NASDAQ:UMBF) to Moderate Buy

UMB Financial (NASDAQ:UMBF) was upgraded by equities research analysts at Raymond James Financial to a “moderate buy” rating in a research note issued on Thursday,Zacks.com reports.

UMBF has been the subject of several other reports. Morgan Stanley boosted their target price on UMB Financial from $143.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Stephens initiated coverage on UMB Financial in a report on Tuesday, July 14th. They issued an “overweight” rating and a $167.00 price target on the stock. Hovde Group lifted their price target on UMB Financial from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Truist Financial set a $170.00 price objective on UMB Financial and gave the stock a “buy” rating in a report on Tuesday, August 4th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of UMB Financial from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.54.

UMB Financial Trading Up 0.0%

Shares of UMB Financial stock opened at $144.59 on Thursday. The company’s 50-day moving average price is $144.86 and its 200-day moving average price is $130.85. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. UMB Financial has a 12-month low of $103.38 and a 12-month high of $153.32. The company has a market cap of $10.98 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 0.71 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.45. The business had revenue of $778.00 million for the quarter, compared to analyst estimates of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same quarter in the prior year, the firm posted $2.96 EPS. On average, equities analysts expect that UMB Financial will post 13.48 earnings per share for the current fiscal year.

Insider Activity at UMB Financial

In other news, Director Kevin Charles Gallagher sold 360 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $145.13, for a total transaction of $52,246.80. Following the completion of the sale, the director directly owned 11,863 shares in the company, valued at approximately $1,721,677.19. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Phillip James Mason sold 800 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $147.00, for a total value of $117,600.00. Following the completion of the sale, the insider directly owned 8,894 shares in the company, valued at $1,307,418. The trade was a 8.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 34,171 shares of company stock valued at $4,919,826 in the last quarter. 5.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UMB Financial

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

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.