UMB Financial (NASDAQ:UMBF) Stock Price Target Lowered at TD Cowen

UMB Financial (NASDAQ:UMBF) had its price target cut by TD Cowen from $166.00 to $152.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the bank’s stock.

Several other equities research analysts have also recently commented on UMBF. Piper Sandler reissued an “overweight” rating and set a $181.00 target price (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. Stephens initiated coverage on UMB Financial in a research note on Tuesday, July 14th. They set an “overweight” rating and a $167.00 price target for the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $170.00 price target (up from $168.00) on shares of UMB Financial in a research report on Thursday, July 30th. Keefe, Bruyette & Woods boosted their price objective on UMB Financial from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Wells Fargo & Company cut their price objective on UMB Financial from $160.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $164.00.

UMB Financial Stock Performance

UMBF opened at $129.80 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $141.51 and its 200-day moving average is $133.82. The stock has a market cap of $9.86 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 0.64 and a beta of 0.82. UMB Financial has a twelve month low of $68.92 and a twelve month high of $144.36.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the company posted $2.96 earnings per share. On average, analysts predict that UMB Financial will post 13.53 earnings per share for the current year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.5%. The ex-dividend date was Thursday, September 10th. This is a boost from UMB Financial’s previous quarterly dividend of $0.43. UMB Financial’s dividend payout ratio is presently 16.65%.

Insider Activity at UMB Financial

In other news, Director Tamara Peterman acquired 394 shares of UMB Financial stock in a transaction on Tuesday, September 1st. The stock was bought at an average cost of $139.60 per share, with a total value of $55,002.40. Following the completion of the purchase, the director owned 10,680 shares of the company’s stock, valued at $1,490,928. This represents a 3.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Greg M. Graves acquired 573 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was purchased at an average cost of $139.60 per share, with a total value of $79,990.80. Following the purchase, the director directly owned 40,463 shares in the company, valued at approximately $5,648,634.80. This trade represents a 1.44% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 25,544 shares of company stock valued at $3,775,862. Corporate insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of UMB Financial during the 2nd quarter worth about $1,458,386,000. Bank of America Corp DE bought a new stake in shares of UMB Financial in the 2nd quarter valued at approximately $129,153,000. Bank of New York Mellon Corp acquired a new position in UMB Financial in the second quarter worth approximately $78,410,000. Junto Capital Management LP acquired a new position in UMB Financial in the second quarter worth approximately $58,924,000. Finally, Neumeier Poma Investment Counsel LLC bought a new position in UMB Financial during the second quarter valued at approximately $58,645,380. Institutional investors and hedge funds own 87.78% of the company’s stock.

About UMB Financial

UMB Financial Corporation is a financial services holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to businesses, institutions, governments and individuals. The company traces its history to 1913 and has developed a regional banking franchise with additional capabilities serving customers nationwide.

UMB’s business activities include commercial and personal banking, treasury management, lending, deposit services and payment solutions.