Morgan Stanley Begins Coverage on UMB Financial (NASDAQ:UMBF)

Analysts at Morgan Stanley initiated coverage on shares of UMB Financial (NASDAQ:UMBF) in a report issued on Thursday, Marketbeat reports. The brokerage set an “overweight” rating and a $156.00 price target on the bank’s stock. Morgan Stanley’s price target indicates a potential upside of 29.79% from the company’s previous close.

A number of other equities research analysts have also weighed in on UMBF. Citigroup started coverage on shares of UMB Financial in a research note on Thursday, October 10th. They set a “buy” rating and a $127.00 target price for the company. Piper Sandler raised their target price on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Barclays increased their price objective on shares of UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company increased their price target on shares of UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.86.

UMB Financial Stock Performance

Shares of UMBF opened at $120.19 on Thursday. UMB Financial has a 12 month low of $69.96 and a 12 month high of $128.73. The business’s fifty day simple moving average is $109.60 and its two-hundred day simple moving average is $96.61. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.11. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 15.02 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.05. The business had revenue of $716.44 million during the quarter, compared to analyst estimates of $398.83 million. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same quarter in the previous year, the firm earned $2.02 EPS. Research analysts anticipate that UMB Financial will post 9.33 earnings per share for the current fiscal year.

Insider Transactions at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 24,300 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the transaction, the chief executive officer now directly owns 1,600,904 shares in the company, valued at $162,988,036.24. This trade represents a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Greg M. Graves bought 258 shares of the stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $109.29 per share, with a total value of $28,196.82. Following the completion of the acquisition, the director now directly owns 36,244 shares in the company, valued at approximately $3,961,106.76. This trade represents a 0.72 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 54,449 shares of company stock worth $5,724,799. 8.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UMB Financial

Several institutional investors have recently made changes to their positions in UMBF. V Square Quantitative Management LLC purchased a new stake in UMB Financial in the third quarter worth about $26,000. Covestor Ltd boosted its stake in shares of UMB Financial by 31.0% during the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after purchasing an additional 102 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of UMB Financial during the third quarter valued at approximately $83,000. 1620 Investment Advisors Inc. purchased a new position in UMB Financial during the second quarter valued at approximately $128,000. Finally, Acropolis Investment Management LLC purchased a new stake in UMB Financial during the third quarter worth $156,000. Hedge funds and other institutional investors own 87.78% of the company’s stock.

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.