UMB Financial (NASDAQ:UMBF) Now Covered by Citigroup

Citigroup began coverage on shares of UMB Financial (NASDAQ:UMBF) in a report published on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a $127.00 target price on the bank’s stock.

Other analysts have also issued research reports about the company. Barclays lifted their target price on UMB Financial from $100.00 to $114.00 and gave the stock an overweight rating in a report on Thursday, August 1st. Piper Sandler increased their price objective on UMB Financial from $102.00 to $120.00 and gave the company an overweight rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company boosted their target price on UMB Financial from $90.00 to $107.00 and gave the stock an equal weight rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $105.86.

UMB Financial Stock Performance

Shares of UMB Financial stock opened at $105.53 on Thursday. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 13.62 and a beta of 0.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.73 and a quick ratio of 0.73. UMB Financial has a 1 year low of $58.92 and a 1 year high of $109.42. The firm’s 50-day moving average is $101.02 and its 200 day moving average is $90.32.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, July 30th. The bank reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.15. The firm had revenue of $390.03 million for the quarter, compared to the consensus estimate of $384.96 million. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.93 earnings per share. Sell-side analysts anticipate that UMB Financial will post 8.98 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Tuesday, September 10th. UMB Financial’s dividend payout ratio is 20.13%.

Insiders Place Their Bets

In other news, EVP John Pauls sold 1,623 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $92.97, for a total value of $150,890.31. Following the transaction, the executive vice president now owns 7,332 shares in the company, valued at $681,656.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP John Pauls sold 1,623 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $92.97, for a total transaction of $150,890.31. Following the completion of the sale, the executive vice president now owns 7,332 shares of the company’s stock, valued at $681,656.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tamara Peterman bought 396 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average cost of $99.56 per share, for a total transaction of $39,425.76. Following the completion of the acquisition, the director now owns 7,407 shares in the company, valued at $737,440.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 42,596 shares of company stock valued at $4,224,884. Insiders own 8.85% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new position in UMB Financial during the second quarter valued at approximately $128,000. CWM LLC lifted its stake in shares of UMB Financial by 7.1% during the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock valued at $162,000 after buying an additional 129 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in UMB Financial in the 1st quarter worth $252,000. SG Americas Securities LLC raised its holdings in UMB Financial by 69.5% during the third quarter. SG Americas Securities LLC now owns 2,478 shares of the bank’s stock valued at $260,000 after acquiring an additional 1,016 shares during the period. Finally, Profund Advisors LLC raised its holdings in UMB Financial by 6.7% during the second quarter. Profund Advisors LLC now owns 3,493 shares of the bank’s stock valued at $291,000 after acquiring an additional 220 shares during the period. 87.78% of the stock is owned by hedge funds and other institutional investors.

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.