Truist Financial Upgrades UMB Financial (NASDAQ:UMBF) to Strong-Buy

UMB Financial (NASDAQ:UMBF) was upgraded by Truist Financial from a “negative” rating to a “strong-buy” rating in a note issued to investors on Monday, MarketBeat.com reports.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada cut their price target on UMB Financial from $128.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, May 1st. Bank of America assumed coverage on shares of UMB Financial in a report on Wednesday, April 16th. They issued a “buy” rating and a $105.00 price objective on the stock. Barclays reduced their target price on shares of UMB Financial from $139.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Piper Sandler reiterated an “overweight” rating and set a $137.00 price target (up previously from $132.00) on shares of UMB Financial in a research note on Friday, May 2nd. Finally, StockNews.com downgraded shares of UMB Financial from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $120.33.

UMB Financial Price Performance

NASDAQ UMBF opened at $106.77 on Monday. UMB Financial has a one year low of $78.56 and a one year high of $129.94. The stock has a 50-day moving average of $97.44 and a 200 day moving average of $109.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 11.88 and a beta of 0.72.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.37. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. The firm had revenue of $563.84 million for the quarter, compared to analysts’ expectations of $555.79 million. During the same period in the prior year, the firm earned $2.47 EPS. The company’s revenue was up 41.4% compared to the same quarter last year. On average, sell-side analysts forecast that UMB Financial will post 9.66 EPS for the current year.

Insiders Place Their Bets

In related news, CEO J Mariner Kemper sold 3,500 shares of UMB Financial stock in a transaction on Friday, February 21st. The shares were sold at an average price of $108.61, for a total transaction of $380,135.00. Following the transaction, the chief executive officer now owns 334,347 shares in the company, valued at approximately $36,313,427.67. The trade was a 1.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.45% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group grew its position in shares of UMB Financial by 4,840.0% during the first quarter. Brooklyn Investment Group now owns 247 shares of the bank’s stock worth $25,000 after purchasing an additional 242 shares in the last quarter. Rothschild Investment LLC boosted its stake in UMB Financial by 442.0% in the 1st quarter. Rothschild Investment LLC now owns 271 shares of the bank’s stock worth $27,000 after purchasing an additional 221 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in UMB Financial during the 1st quarter valued at approximately $27,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of UMB Financial during the first quarter valued at approximately $35,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of UMB Financial by 143.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank’s stock worth $37,000 after buying an additional 213 shares in the last quarter. 87.78% of the stock is owned by institutional investors.

UMB Financial Company Profile

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.