Royal Bank of Canada Initiates Coverage on UMB Financial (NASDAQ:UMBF)

Equities research analysts at Royal Bank of Canada initiated coverage on shares of UMB Financial (NASDAQ:UMBF) in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set a “sector perform” rating and a $130.00 price target on the bank’s stock. Royal Bank of Canada’s price target suggests a potential upside of 5.58% from the stock’s previous close.

A number of other equities research analysts have also commented on the stock. Citigroup initiated coverage on shares of UMB Financial in a research note on Thursday, October 10th. They issued a “buy” rating and a $127.00 price objective on the stock. Morgan Stanley started coverage on UMB Financial in a report on Thursday. They set an “overweight” rating and a $156.00 price target for the company. Piper Sandler lifted their price objective 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 upped their target price on UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company boosted their price target on UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $122.00.

UMB Financial Stock Performance

Shares of UMB Financial stock opened at $123.13 on Friday. The company’s 50 day moving average price is $109.99 and its two-hundred day moving average price is $96.78. The firm has a market capitalization of $6.01 billion, a P/E ratio of 15.39 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76. UMB Financial has a fifty-two week low of $69.96 and a fifty-two week high of $128.73.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.05. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. The firm had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. During the same period last year, the firm posted $2.02 earnings per share. On average, equities analysts forecast 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 business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total value 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. The trade was a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kris A. Robbins sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the transaction, the director now owns 3,211 shares in the company, valued at approximately $329,127.50. The trade was a 60.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,303 shares of company stock worth $5,830,165 in the last 90 days. Insiders own 8.85% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of UMBF. Principal Financial Group Inc. boosted its position in shares of UMB Financial by 403.7% in the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock valued at $91,114,000 after acquiring an additional 694,751 shares during the period. Millennium Management LLC lifted its stake in UMB Financial by 567.1% in the 2nd quarter. Millennium Management LLC now owns 733,734 shares of the bank’s stock worth $61,208,000 after purchasing an additional 623,751 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in UMB Financial in the 3rd quarter valued at $48,531,000. Vanguard Group Inc. grew its position in shares of UMB Financial by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock valued at $409,321,000 after purchasing an additional 394,578 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of UMB Financial by 102.7% in the second quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock worth $62,780,000 after purchasing an additional 381,278 shares during the period. 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.