UMB Financial (NASDAQ:UMBF) Given New $90.00 Price Target at Wells Fargo & Company

UMB Financial (NASDAQ:UMBF) had its price target boosted by Wells Fargo & Company from $88.00 to $90.00 in a research report released on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the bank’s stock.

Other research analysts have also issued reports about the stock. Raymond James raised their target price on shares of UMB Financial from $80.00 to $102.00 and gave the company a strong-buy rating in a research note on Thursday, February 1st. Keefe, Bruyette & Woods raised their price target on UMB Financial from $86.00 to $93.00 and gave the company a market perform rating in a research report on Tuesday. Barclays raised UMB Financial from an equal weight rating to an overweight rating and boosted their price objective for the stock from $91.00 to $95.00 in a research report on Tuesday. Piper Sandler raised their target price on UMB Financial from $87.50 to $99.00 and gave the company an overweight rating in a report on Thursday, February 1st. Finally, StockNews.com upgraded UMB Financial from a sell rating to a hold rating in a report on Saturday, March 16th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, UMB Financial has an average rating of Moderate Buy and a consensus target price of $92.00.

UMB Financial Stock Up 0.8 %

Shares of NASDAQ:UMBF opened at $82.56 on Tuesday. The company has a market cap of $4.02 billion, a PE ratio of 10.96 and a beta of 0.84. The firm has a 50 day simple moving average of $81.87 and a 200 day simple moving average of $78.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.72 and a current ratio of 0.75. UMB Financial has a 52 week low of $50.68 and a 52 week high of $87.36.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Wednesday, January 31st. The bank reported $2.29 EPS for the quarter, beating the consensus estimate of $1.76 by $0.53. The business had revenue of $370.80 million during the quarter, compared to analysts’ expectations of $360.69 million. UMB Financial had a return on equity of 14.30% and a net margin of 14.59%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.06 EPS. As a group, research analysts expect that UMB Financial will post 7.88 earnings per share for the current year.

UMB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be given a $0.39 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.89%. UMB Financial’s dividend payout ratio is currently 20.72%.

Insider Activity

In related news, CEO J Mariner Kemper sold 11,170 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $85.28, for a total value of $952,577.60. Following the completion of the transaction, the chief executive officer now directly owns 1,738,604 shares of the company’s stock, valued at $148,268,149.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Kevin Charles Gallagher sold 625 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $80.21, for a total value of $50,131.25. Following the completion of the transaction, the director now directly owns 12,859 shares of the company’s stock, valued at approximately $1,031,420.39. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO J Mariner Kemper sold 11,170 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $85.28, for a total value of $952,577.60. Following the transaction, the chief executive officer now owns 1,738,604 shares of the company’s stock, valued at approximately $148,268,149.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,079 shares of company stock worth $2,159,628. Company insiders own 8.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of UMB Financial by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,310,807 shares of the bank’s stock worth $360,168,000 after purchasing an additional 44,150 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of UMB Financial by 73.5% in the third quarter. Wellington Management Group LLP now owns 2,586,701 shares of the bank’s stock valued at $160,505,000 after acquiring an additional 1,095,630 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of UMB Financial by 15.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,997,303 shares of the bank’s stock worth $166,875,000 after acquiring an additional 265,399 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in UMB Financial by 3.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,905,072 shares of the bank’s stock worth $165,722,000 after acquiring an additional 63,022 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in UMB Financial by 4.3% during the 3rd quarter. American Century Companies Inc. now owns 1,817,350 shares of the bank’s stock valued at $112,767,000 after purchasing an additional 75,140 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

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.