UMB Financial (NASDAQ:UMBF) Coverage Initiated at Morgan Stanley

Research analysts at Morgan Stanley assumed coverage on shares of UMB Financial (NASDAQ:UMBF - Get Free Report) in a research note issued on Thursday, MarketBeat reports. The brokerage set an "overweight" rating and a $156.00 price target on the bank's stock. Morgan Stanley's price objective points to a potential upside of 26.70% from the stock's previous close.

A number of other equities research analysts have also issued reports on the company. Wells Fargo & Company upped their price target on UMB Financial from $107.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Barclays boosted their price target on shares of UMB Financial from $118.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Piper Sandler raised their price objective on shares of UMB Financial from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, August 1st. Finally, Citigroup initiated coverage on shares of UMB Financial in a report on Thursday, October 10th. They issued a "buy" rating and a $127.00 target price on the stock. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $120.86.

UMB Financial Price Performance

Shares of NASDAQ UMBF traded up $2.94 during midday trading on Thursday, hitting $123.13. The stock had a trading volume of 220,850 shares, compared to its average volume of 365,386. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. UMB Financial has a 1 year low of $69.96 and a 1 year high of $128.73. The company has a market capitalization of $6.01 billion, a PE ratio of 15.02 and a beta of 0.78. The stock has a 50 day simple moving average of $109.99 and a 200-day simple moving average of $96.78.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.05. The company had revenue of $716.44 million for the quarter, compared to analysts' expectations of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same quarter in the previous year, the company posted $2.02 EPS. On average, sell-side analysts expect that UMB Financial will post 9.33 EPS for the current fiscal year.

Insider Activity

In other news, Director Kris A. Robbins sold 5,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.50, for a total transaction of $512,500.00. Following the sale, the director now owns 3,211 shares of the company's stock, valued at approximately $329,127.50. This represents a 60.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Pauls sold 849 shares of UMB Financial stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $110.42, for a total transaction of $93,746.58. Following the completion of the transaction, the executive vice president now owns 6,483 shares of the company's stock, valued at $715,852.86. This trade represents a 11.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,449 shares of company stock valued at $5,724,799. Company insiders own 8.85% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of UMBF. Janney Montgomery Scott LLC purchased a new position in shares of UMB Financial in the 1st quarter valued at about $252,000. Russell Investments Group Ltd. grew its holdings in UMB Financial by 1.9% during the 1st quarter. Russell Investments Group Ltd. now owns 30,016 shares of the bank's stock worth $2,611,000 after acquiring an additional 567 shares in the last quarter. Vanguard Group Inc. increased its position in shares of UMB Financial by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank's stock valued at $409,321,000 after purchasing an additional 394,578 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of UMB Financial by 30.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,451 shares of the bank's stock valued at $300,000 after purchasing an additional 809 shares in the last quarter. Finally, Pitcairn Co. lifted its position in shares of UMB Financial by 17.6% during the 1st quarter. Pitcairn Co. now owns 4,035 shares of the bank's stock worth $351,000 after purchasing an additional 604 shares during the last quarter. 87.78% of the stock is currently owned by hedge funds and other 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.