UMB Financial (NASDAQ:UMBF) Earns Buy Rating from Analysts at Citigroup

Citigroup initiated coverage on shares of UMB Financial (NASDAQ:UMBF) in a research report sent to investors on Thursday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $127.00 target price on the bank’s stock.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company raised their target price on UMB Financial from $90.00 to $107.00 and gave the company an equal weight rating in a report on Thursday, August 1st. Piper Sandler boosted 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. Finally, Barclays raised their price target on shares of UMB Financial from $100.00 to $114.00 and gave the company an overweight rating in a report on Thursday, August 1st. 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 stock. According to data from MarketBeat.com, UMB Financial has a consensus rating of Moderate Buy and an average price target of $105.86.

UMB Financial Price Performance

UMBF opened at $108.99 on Thursday. The company has a 50 day moving average of $101.33 and a two-hundred day moving average of $90.57. UMB Financial has a 52-week low of $58.92 and a 52-week high of $109.96. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.12. The company has a market cap of $5.31 billion, a P/E ratio of 14.06 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, July 30th. The bank reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.15. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. The firm had revenue of $390.03 million during the quarter, compared to analysts’ expectations of $384.96 million. During the same period in the prior year, the company earned $1.93 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. On average, analysts expect that UMB Financial will post 8.98 earnings per share for the current year.

UMB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.39 per share. The ex-dividend date was Tuesday, September 10th. This represents a $1.56 dividend on an annualized basis and a yield of 1.43%. UMB Financial’s dividend payout ratio (DPR) is 20.13%.

Insiders Place Their Bets

In other news, CEO J Mariner Kemper sold 10,115 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $93.00, for a total transaction of $940,695.00. Following the transaction, the chief executive officer now owns 257,796 shares of the company’s stock, valued at approximately $23,975,028. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO J Mariner Kemper sold 10,115 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $93.00, for a total value of $940,695.00. Following the completion of the sale, the chief executive officer now directly owns 257,796 shares in the company, valued at approximately $23,975,028. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tamara Peterman acquired 396 shares of UMB Financial stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average price of $99.56 per share, for a total transaction of $39,425.76. Following the completion of the purchase, the director now directly owns 7,407 shares of the company’s stock, valued at $737,440.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 42,596 shares of company stock valued at $4,224,884 in the last ninety days. Corporate insiders own 8.85% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

Institutional investors have recently modified their holdings of the business. CWM LLC boosted its stake in UMB Financial by 7.1% in the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock valued at $162,000 after acquiring an additional 129 shares during the period. Truist Financial Corp increased its position in UMB Financial by 3.3% in the second quarter. Truist Financial Corp now owns 4,238 shares of the bank’s stock worth $354,000 after buying an additional 136 shares during the period. Retirement Systems of Alabama increased its position in UMB Financial by 0.3% in the first quarter. Retirement Systems of Alabama now owns 54,848 shares of the bank’s stock worth $4,771,000 after buying an additional 144 shares during the period. The Manufacturers Life Insurance Company lifted its stake in UMB Financial by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock valued at $4,496,000 after buying an additional 200 shares during the last quarter. Finally, Great Lakes Advisors LLC boosted its holdings in shares of UMB Financial by 0.4% during the second quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank’s stock valued at $4,913,000 after acquiring an additional 210 shares during the period. 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.