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

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

A number of other research analysts also recently issued reports on the company. Truist Financial set a $170.00 price objective on UMB Financial and gave the company a “buy” rating in a research note on Tuesday, August 4th. Wells Fargo & Company set a $160.00 target price on UMB Financial and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Stephens began coverage on UMB Financial in a report on Tuesday, July 14th. They issued an “overweight” rating and a $167.00 target price for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $170.00 price target (up from $168.00) on shares of UMB Financial in a research note on Thursday, July 30th. Finally, Barclays restated an “overweight” rating and set a $175.00 price target (up from $170.00) on shares of UMB Financial in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $166.54.

UMB Financial Stock Up 0.0%

Shares of NASDAQ UMBF 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 debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. UMB Financial has a 52-week low of $103.38 and a 52-week high of $153.32. The company has a market capitalization of $10.98 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.71 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF) last announced 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 during the quarter, compared to the consensus estimate 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 last year, the firm earned $2.96 earnings per share. Equities analysts forecast that UMB Financial will post 13.48 earnings per share for the current year.

Insiders Place Their Bets

In other UMB Financial news, insider Nikki Farentino Newton sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total value of $297,200.00. Following the completion of the sale, the insider owned 11,981 shares of the company’s stock, valued at approximately $1,780,376.60. This trade represents a 14.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Brian Beaird sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $144.40, for a total value of $231,040.00. Following the sale, the insider owned 8,943 shares of the company’s stock, valued at approximately $1,291,369.20. This represents a 15.18% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 34,171 shares of company stock valued at $4,919,826. 5.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On UMB Financial

Several hedge funds and other institutional investors have recently made changes to their positions in UMBF. First National Bank of Omaha bought a new position in UMB Financial in the 2nd quarter valued at about $1,053,000. BlackRock Inc. bought a new position in shares of UMB Financial in the second quarter valued at approximately $1,458,386,000. NFJ Investment Group LLC bought a new position in shares of UMB Financial in the second quarter valued at approximately $47,026,000. Ceredex Value Advisors LLC purchased a new position in shares of UMB Financial during the second quarter valued at approximately $14,112,000. Finally, Hsbc Holdings PLC grew its holdings in UMB Financial by 290.2% during the first quarter. Hsbc Holdings PLC now owns 13,355 shares of the bank’s stock worth $1,506,000 after buying an additional 9,932 shares in the last quarter. 87.78% of the stock is owned by institutional investors.

About UMB Financial

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.