UMB Financial (NASDAQ:UMBF) Stock Gets Price Target Cut from Truist Financial

UMB Financial (NASDAQ:UMBF) had its price objective reduced by Truist Financial from $170.00 to $156.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the bank’s stock.

UMBF has been the topic of several other research reports. Keefe, Bruyette & Woods upped their price objective on UMB Financial from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. UBS Group initiated coverage on UMB Financial in a research report on Monday, September 14th. They set a “neutral” rating and a $155.00 target price for the company. Barclays reaffirmed an “overweight” rating and set a $175.00 price target (up from $170.00) on shares of UMB Financial in a research note on Monday, August 3rd. Royal Bank Of Canada decreased their price target on UMB Financial from $170.00 to $168.00 and set an “outperform” rating on the stock in a report on Friday, October 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of UMB Financial in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.86.

UMB Financial Stock Up 2.4%

Shares of NASDAQ:UMBF opened at $136.16 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm has a market cap of $10.34 billion, a P/E ratio of 10.42, a P/E/G ratio of 0.62 and a beta of 0.82. UMB Financial has a 12 month low of $68.92 and a 12 month high of $144.36. The company’s 50-day moving average price is $137.38 and its two-hundred day moving average price is $135.60.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $727.63 million. During the same period in the prior year, the business earned $2.96 earnings per share. As a group, research analysts forecast that UMB Financial will post 13.53 EPS for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. This is a boost from UMB Financial’s previous quarterly dividend of $0.43. UMB Financial’s dividend payout ratio (DPR) is presently 16.65%.

Insider Activity at UMB Financial

In other news, Director Susan G. Murphy sold 1,377 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $145.55, for a total value of $200,422.35. Following the transaction, the director directly owned 10,635 shares in the company, valued at $1,547,924.25. This trade represents a 11.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nikki Farentino Newton sold 2,000 shares of UMB Financial stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total value of $297,200.00. Following the sale, the insider directly owned 11,981 shares of the company’s stock, valued at approximately $1,780,376.60. This trade represents a 14.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 25,544 shares of company stock worth $3,775,862. 5.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On UMB Financial

Several hedge funds have recently added to or reduced their stakes in the stock. Inspire Investing LLC grew its position in shares of UMB Financial by 447.2% during the 3rd quarter. Inspire Investing LLC now owns 22,703 shares of the bank’s stock worth $2,952,000 after buying an additional 18,554 shares during the period. MBL Wealth LLC bought a new stake in shares of UMB Financial in the 3rd quarter valued at about $216,000. Root Financial Partners LLC bought a new stake in shares of UMB Financial in the 3rd quarter valued at about $53,000. Crossmark Global Holdings Inc. bought a new stake in shares of UMB Financial in the 3rd quarter valued at about $482,000. Finally, Diversify Advisory Services LLC raised its position in shares of UMB Financial by 10.8% in the 3rd quarter. Diversify Advisory Services LLC now owns 15,678 shares of the bank’s stock valued at $2,066,000 after acquiring an additional 1,529 shares during the period. Institutional investors and hedge funds own 87.78% of the company’s stock.

About UMB Financial

UMB Financial Corporation is a financial holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to individuals, businesses, institutions and government entities. The company serves customers through banking offices and digital channels across the Midwest and other U.S. markets.

UMB Bank offers commercial and personal banking products, including deposit accounts, loans, treasury management, payment services and credit solutions.