UMB Financial (NASDAQ:UMBF – Get Free Report) had its price target raised by equities researchers at Keefe, Bruyette & Woods from $155.00 to $160.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 7.91% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of UMB Financial in a report on Friday, July 24th. Barclays boosted their price objective on UMB Financial from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Hovde Group increased their target price on UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Zacks Research lowered UMB Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Royal Bank Of Canada lifted their price target on UMB Financial from $138.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $153.75.
Get Our Latest Analysis on UMB Financial
UMB Financial Price Performance
UMB Financial’s stock is going to split before the market opens on Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly created shares will be issued to shareholders after the closing bell on Monday, August 31st.
UMB Financial (NASDAQ:UMBF – Get Free Report) last posted its earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $0.45. The company had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.59%. During the same quarter in the previous year, the company posted $2.96 earnings per share. On average, equities analysts anticipate that UMB Financial will post 12.85 EPS for the current fiscal year.
Insider Buying and Selling
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 transaction of $50,627.28. Following the completion of the sale, the director owned 12,223 shares of the company’s stock, valued at approximately $1,624,192.24. The trade was a 3.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President James D. Rine sold 8,246 shares of the stock in a transaction on 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 completion of the transaction, the president directly owned 61,446 shares in the company, valued at approximately $8,147,125.14. This trade represents a 11.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 5.33% of the company’s stock.
Institutional Investors Weigh In On UMB Financial
A number of institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. lifted its stake in UMB Financial by 11.4% in the fourth quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank’s stock valued at $553,322,000 after buying an additional 493,875 shares during the period. State Street Corp increased its stake in shares of UMB Financial by 7.9% in the 2nd quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock valued at $453,461,000 after acquiring an additional 313,414 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of UMB Financial by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock valued at $366,743,000 after acquiring an additional 751,525 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of UMB Financial by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank’s stock valued at $328,200,000 after acquiring an additional 55,005 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of UMB Financial by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,907,978 shares of the bank’s stock valued at $219,529,000 after acquiring an additional 33,078 shares during the period. 87.78% of the stock is owned by institutional investors and hedge funds.
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.
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