Bank of America Initiates Coverage on UMB Financial (NASDAQ:UMBF)

Bank of America initiated coverage on shares of UMB Financial (NASDAQ:UMBF - Free Report) in a report issued on Wednesday, MarketBeat reports. The firm issued a buy rating and a $105.00 price objective on the bank's stock.

A number of other equities analysts have also recently issued reports on the stock. Barclays dropped their price target on shares of UMB Financial from $139.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley cut their price target on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Piper Sandler boosted their price objective on shares of UMB Financial from $142.00 to $143.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. StockNews.com upgraded UMB Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. Finally, Citigroup reaffirmed a "neutral" rating and set a $127.00 price objective (down from $130.00) on shares of UMB Financial in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $122.13.

UMB Financial Trading Up 0.5 %

Shares of NASDAQ UMBF traded up $0.46 during midday trading on Wednesday, hitting $91.51. 441,203 shares of the company traded hands, compared to its average volume of 521,354. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75. UMB Financial has a 12-month low of $76.00 and a 12-month high of $129.94. The stock has a 50-day moving average price of $100.79 and a 200 day moving average price of $110.81. The firm has a market cap of $6.65 billion, a P/E ratio of 10.18 and a beta of 0.71.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.24. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. During the same period in the previous year, the business earned $2.29 EPS. As a group, analysts expect that UMB Financial will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Monday, March 10th. UMB Financial's dividend payout ratio is presently 17.80%.

Insider Activity

In other UMB Financial news, CEO J Mariner Kemper sold 3,500 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 334,347 shares of the company's stock, valued at $36,313,427.67. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kevin Charles Gallagher sold 527 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $114.13, for a total transaction of $60,146.51. Following the transaction, the director now directly owns 13,010 shares of the company's stock, valued at $1,484,831.30. The trade was a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.45% of the company's stock.

Institutional Investors Weigh In On UMB Financial

A number of hedge funds have recently bought and sold shares of UMBF. Rothschild Investment LLC increased its stake in UMB Financial by 442.0% during the first quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after acquiring an additional 221 shares during the last quarter. Versant Capital Management Inc lifted its position in UMB Financial by 703.2% in the first quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock worth $50,000 after buying an additional 436 shares during the last quarter. USA Financial Formulas boosted its stake in UMB Financial by 124.7% during the fourth quarter. USA Financial Formulas now owns 483 shares of the bank's stock worth $55,000 after buying an additional 268 shares during the period. Covestor Ltd increased its position in UMB Financial by 28.8% during the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock valued at $63,000 after acquiring an additional 124 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of UMB Financial by 38.1% in the first quarter. Fifth Third Bancorp now owns 624 shares of the bank's stock valued at $63,000 after acquiring an additional 172 shares during the period. Hedge funds and other institutional investors own 87.78% of the company's stock.

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.