Truist Financial Cuts UMB Financial (NASDAQ:UMBF) Price Target to $130.00

UMB Financial (NASDAQ:UMBF) had its target price lowered by Truist Financial from $150.00 to $130.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

Several other equities analysts also recently commented on the company. Zacks Research upgraded UMB Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Weiss Ratings upgraded shares of UMB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Royal Bank Of Canada set a $134.00 price objective on shares of UMB Financial and gave the stock an “outperform” rating in a report on Monday, January 12th. Barclays reiterated an “overweight” rating and issued a $160.00 target price on shares of UMB Financial in a research note on Thursday, January 29th. Finally, TD Cowen reiterated a “buy” rating on shares of UMB Financial in a report on Thursday, January 29th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $139.36.

UMB Financial Price Performance

Shares of NASDAQ:UMBF opened at $112.72 on Monday. The stock has a market capitalization of $8.58 billion, a P/E ratio of 12.35, a P/E/G ratio of 0.80 and a beta of 0.78. The business has a 50-day moving average of $121.37 and a two-hundred day moving average of $117.47. UMB Financial has a fifty-two week low of $82.00 and a fifty-two week high of $136.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.37. UMB Financial had a return on equity of 12.14% and a net margin of 16.90%.The business had revenue of $469.80 million for the quarter, compared to analyst estimates of $677.30 million. During the same quarter in the prior year, the firm posted $2.49 EPS. The firm’s revenue for the quarter was up 66.0% on a year-over-year basis. On average, equities research analysts predict that UMB Financial will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 10th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, March 10th. UMB Financial’s payout ratio is currently 18.84%.

Insider Transactions at UMB Financial

In related news, Director Greg M. Graves acquired 220 shares of the stock in a transaction dated Monday, February 2nd. The shares were acquired at an average price of $127.83 per share, for a total transaction of $28,122.60. Following the completion of the purchase, the director owned 39,541 shares in the company, valued at approximately $5,054,526.03. The trade was a 0.56% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO J Mariner Kemper sold 15,214 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $128.59, for a total transaction of $1,956,368.26. Following the transaction, the chief executive officer directly owned 1,506,200 shares in the company, valued at $193,682,258. This trade represents a 1.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,102 shares of company stock worth $2,458,247 over the last three months. 5.33% of the stock is currently owned by insiders.

Institutional Trading of UMB Financial

A number of hedge funds have recently bought and sold shares of UMBF. Alliancebernstein L.P. increased its holdings in shares of 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 purchasing an additional 1,286,543 shares during the period. Norges Bank bought a new stake in shares of UMB Financial in the second quarter valued at about $93,829,000. Wellington Management Group LLP lifted its stake in shares of UMB Financial by 32.0% in the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock valued at $366,743,000 after buying an additional 751,525 shares during the period. UMB Bank n.a. grew its position in 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 buying an additional 493,875 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its position in 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 buying an additional 388,253 shares in the last quarter. 87.78% of the stock is owned by institutional investors.

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.