UMB Financial (NASDAQ:UMBF) Price Target Raised to $139.00 at Wells Fargo & Company

UMB Financial (NASDAQ:UMBF) had its price objective increased by analysts at Wells Fargo & Company from $130.00 to $139.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price target points to a potential downside of 3.34% from the stock’s previous close.

Several other brokerages also recently issued reports on UMBF. Truist Financial set a $140.00 price objective on shares of UMB Financial in a research report on Friday, May 1st. Royal Bank Of Canada increased their target price on shares of UMB Financial from $138.00 to $142.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Hovde Group boosted their price target on UMB Financial from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Citigroup upped their price objective on UMB Financial from $138.00 to $144.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. Finally, TD Cowen increased their price objective on UMB Financial from $141.00 to $147.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $148.91.

UMB Financial Price Performance

UMB Financial stock opened at $143.80 on Monday. The company has a market capitalization of $10.93 billion, a P/E ratio of 12.76, a PEG ratio of 0.97 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. UMB Financial has a fifty-two week low of $103.38 and a fifty-two week high of $146.60. The stock has a 50-day simple moving average of $132.23 and a 200-day simple moving average of $124.32.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, April 28th. The bank reported $3.41 EPS for the quarter, topping the consensus estimate of $2.82 by $0.59. The company had revenue of $739.16 million for the quarter, compared to analyst estimates of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The firm’s revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.58 earnings per share. Equities research analysts expect that UMB Financial will post 12.83 earnings per share for the current year.

Insiders Place Their Bets

In other UMB Financial news, Director Kevin Charles Gallagher sold 381 shares of UMB Financial stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $132.88, for a total value of $50,627.28. Following the transaction, the director owned 12,223 shares in the company, valued at $1,624,192.24. This trade represents a 3.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President James D. Rine sold 8,246 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total value of $1,093,337.14. Following the sale, the president directly owned 61,446 shares of the company’s stock, valued at approximately $8,147,125.14. This trade represents a 11.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

Large investors have recently modified their holdings of the stock. Alliancebernstein L.P. lifted its position in UMB Financial by 636.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock worth $156,543,000 after acquiring an additional 1,286,543 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of UMB Financial by 32.0% during the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock valued at $366,743,000 after purchasing an additional 751,525 shares during the period. Norges Bank purchased a new stake in shares of UMB Financial during the fourth quarter valued at approximately $85,885,000. UMB Bank n.a. lifted its position in shares of UMB Financial by 11.4% during the fourth quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank’s stock worth $553,322,000 after purchasing an additional 493,875 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of UMB Financial by 1,148.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 422,065 shares of the bank’s stock worth $48,554,000 after purchasing an additional 388,253 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

About UMB Financial

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.