Royal Bank of Canada Reaffirms Sector Perform Rating for UMB Financial (NASDAQ:UMBF)

UMB Financial (NASDAQ:UMBF - Get Free Report)'s stock had its "sector perform" rating reissued by stock analysts at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They presently have a $128.00 target price on the bank's stock. Royal Bank of Canada's price target indicates a potential upside of 13.03% from the stock's previous close.

Several other equities research analysts also recently commented on UMBF. Morgan Stanley assumed coverage on shares of UMB Financial in a research report on Thursday, November 21st. They set an "overweight" rating and a $156.00 target price on the stock. StockNews.com raised shares of UMB Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their target price on UMB Financial from $107.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. Piper Sandler increased their price target on UMB Financial from $142.00 to $143.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Citigroup assumed coverage on UMB Financial in a research note on Thursday, October 10th. They issued a "buy" rating and a $127.00 price objective on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, UMB Financial currently has an average rating of "Moderate Buy" and an average price target of $130.14.

UMB Financial Price Performance

NASDAQ UMBF traded down $4.66 on Thursday, hitting $113.24. 1,733,067 shares of the company's stock were exchanged, compared to its average volume of 868,937. UMB Financial has a 52 week low of $76.00 and a 52 week high of $129.94. The stock has a 50-day moving average of $118.91 and a 200-day moving average of $110.01. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 12.60 and a beta of 0.82.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $2.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.25 by $0.24. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. During the same quarter in the previous year, the business posted $2.29 earnings per share. Analysts expect that UMB Financial will post 9.51 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $124.95, for a total transaction of $3,036,285.00. Following the transaction, the chief executive officer now directly owns 1,552,304 shares of the company's stock, valued at $193,960,384.80. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Brian Beaird sold 854 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total transaction of $105,366.52. Following the completion of the sale, the insider now owns 5,828 shares of the company's stock, valued at $719,058.64. The trade was a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.85% of the company's stock.

Institutional Investors Weigh In On UMB Financial

Hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC raised its position in shares of UMB Financial by 767.4% during the third quarter. Cerity Partners LLC now owns 21,269 shares of the bank's stock worth $2,236,000 after purchasing an additional 18,817 shares during the period. Principal Financial Group Inc. raised its holdings in UMB Financial by 403.7% during the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank's stock worth $91,114,000 after buying an additional 694,751 shares during the last quarter. Natixis Advisors LLC raised its holdings in UMB Financial by 51.2% during the third quarter. Natixis Advisors LLC now owns 28,935 shares of the bank's stock worth $3,041,000 after buying an additional 9,803 shares during the last quarter. King Luther Capital Management Corp grew its holdings in shares of UMB Financial by 229.6% during the third quarter. King Luther Capital Management Corp now owns 47,116 shares of the bank's stock valued at $4,952,000 after buying an additional 32,820 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of UMB Financial by 1.9% during the third quarter. Geode Capital Management LLC now owns 1,114,251 shares of the bank's stock valued at $117,139,000 after buying an additional 21,091 shares during the last quarter. Institutional investors and hedge funds 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.