UMB Financial (NASDAQ:UMBF) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of UMB Financial (NASDAQ:UMBF) in a research report released on Thursday, Marketbeat reports. The firm issued an overweight rating and a $180.00 price objective on the bank’s stock.

UMBF has been the topic of several other reports. Wells Fargo & Company set a $160.00 price objective on shares of UMB Financial and gave the company an “equal weight” rating in a research report on Monday, August 10th. Truist Financial set a $170.00 target price on UMB Financial and gave the stock a “buy” rating in a report on Tuesday, August 4th. Citigroup reiterated a “neutral” rating and set a $162.00 target price (up from $144.00) on shares of UMB Financial in a report on Friday, July 31st. Hovde Group lifted their price target on UMB Financial from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Piper Sandler restated an “overweight” rating and issued a $181.00 price target (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $165.00.

UMB Financial Stock Performance

Shares of UMBF stock opened at $145.14 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $11.02 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 0.71 and a beta of 0.77. The company’s 50 day moving average price is $143.83 and its two-hundred day moving average price is $130.39. UMB Financial has a 52 week low of $103.38 and a 52 week high of $153.32.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.45. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. The company had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $727.63 million. During the same quarter in the prior year, the company earned $2.96 earnings per share. On average, analysts expect that UMB Financial will post 13.48 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from UMB Financial’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, September 10th. UMB Financial’s dividend payout ratio is 14.32%.

Insiders Place Their Bets

In related news, insider Nikki Farentino Newton sold 2,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $148.60, for a total transaction of $297,200.00. Following the completion of the transaction, the insider owned 11,981 shares in the company, valued at approximately $1,780,376.60. This represents a 14.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Phillip James Mason sold 800 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $147.00, for a total transaction of $117,600.00. Following the completion of the transaction, the insider directly owned 8,894 shares of the company’s stock, valued at approximately $1,307,418. This trade represents a 8.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,171 shares of company stock valued at $4,919,826 over the last 90 days. 5.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UMB Financial

Several hedge funds have recently modified their holdings of UMBF. Mercer Global Advisors Inc. ADV raised its holdings in UMB Financial by 4.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,563 shares of the bank’s stock worth $295,000 after acquiring an additional 102 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in UMB Financial by 3.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,910 shares of the bank’s stock valued at $335,000 after purchasing an additional 108 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in UMB Financial by 1.8% during the fourth quarter. Concurrent Investment Advisors LLC now owns 6,424 shares of the bank’s stock valued at $739,000 after purchasing an additional 112 shares during the last quarter. Greenleaf Trust grew its stake in UMB Financial by 4.7% in the second quarter. Greenleaf Trust now owns 2,506 shares of the bank’s stock valued at $358,000 after purchasing an additional 113 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in UMB Financial by 1.7% in the first quarter. First Citizens Bank & Trust Co. now owns 7,272 shares of the bank’s stock valued at $820,000 after purchasing an additional 125 shares in the last quarter. Institutional investors 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.