UMB Financial (NASDAQ:UMBF) Now Covered by Royal Bank of Canada

Royal Bank of Canada began coverage on shares of UMB Financial (NASDAQ:UMBF - Free Report) in a report released on Friday morning, Marketbeat.com reports. The firm issued a sector perform rating and a $130.00 price target on the bank's stock.

UMBF has been the subject of several other research reports. Barclays lifted their price objective on UMB Financial from $118.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Morgan Stanley started coverage on UMB Financial in a report on Thursday. They issued an "overweight" rating and a $156.00 price target for the company. Wells Fargo & Company increased their price objective on shares of UMB Financial from $107.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Citigroup started coverage on shares of UMB Financial in a research note on Thursday, October 10th. They issued a "buy" rating and a $127.00 target price for the company. Finally, Piper Sandler upped their target price 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. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $122.00.

UMB Financial Price Performance

UMBF stock traded up $1.87 during trading on Friday, hitting $125.00. The company had a trading volume of 351,661 shares, compared to its average volume of 365,325. The company has a fifty day moving average price of $110.41 and a two-hundred day moving average price of $96.96. UMB Financial has a fifty-two week low of $69.96 and a fifty-two week high of $128.73. The company has a market cap of $6.10 billion, a P/E ratio of 15.39 and a beta of 0.78. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, beating the consensus estimate of $2.20 by $0.05. The company had revenue of $716.44 million for the quarter, compared to the consensus estimate 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 earned $2.02 EPS. Equities research analysts expect that UMB Financial will post 9.33 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 10th. This is a boost from UMB Financial's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.28%. UMB Financial's payout ratio is 19.50%.

Insiders Place Their Bets

In other UMB Financial news, CEO J Mariner Kemper sold 24,300 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the sale, the chief executive officer now directly owns 1,600,904 shares of the company's stock, valued at $162,988,036.24. The trade was a 1.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert Brian Beaird sold 854 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total value of $105,366.52. Following the transaction, the insider now directly owns 5,828 shares in the company, valued at $719,058.64. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,303 shares of company stock worth $5,830,165. Corporate insiders own 8.85% of the company's stock.

Institutional Trading of UMB Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC bought a new stake in shares of UMB Financial during the first quarter worth approximately $252,000. Russell Investments Group Ltd. increased its position 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 buying an additional 567 shares during the period. Vanguard Group Inc. lifted its holdings in shares of UMB Financial by 9.2% during the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank's stock worth $409,321,000 after buying an additional 394,578 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of UMB Financial by 30.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,451 shares of the bank's stock valued at $300,000 after acquiring an additional 809 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of UMB Financial by 167.4% in the first quarter. Lazard Asset Management LLC now owns 4,768 shares of the bank's stock valued at $414,000 after acquiring an additional 2,985 shares in the last quarter. Institutional investors own 87.78% of the company's stock.

About UMB Financial

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.