Wells Fargo & Company Increases UMB Financial (NASDAQ:UMBF) Price Target to $120.00

UMB Financial (NASDAQ:UMBF) had its target price lifted by Wells Fargo & Company from $107.00 to $120.00 in a research note published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the bank’s stock.

A number of other research firms have also commented on UMBF. Piper Sandler lifted their price objective on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Barclays upped their price target on UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Citigroup initiated coverage on UMB Financial in a report on Thursday, October 10th. They set a “buy” rating and a $127.00 price objective for the company. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.00.

UMB Financial Stock Up 0.8 %

Shares of UMBF traded up $0.92 during mid-day trading on Thursday, hitting $110.65. 9,695 shares of the company’s stock were exchanged, compared to its average volume of 358,934. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 13.72 and a beta of 0.78. The firm has a fifty day moving average of $105.05 and a two-hundred day moving average of $92.92. The company has a quick ratio of 0.73, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. UMB Financial has a twelve month low of $64.48 and a twelve month high of $113.56.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, topping the consensus estimate of $2.20 by $0.05. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. The firm had revenue of $716.44 million for the quarter, compared to the consensus estimate of $398.83 million. During the same period in the prior year, the business posted $2.02 earnings per share. On average, sell-side analysts forecast that UMB Financial will post 8.98 earnings per share for the current year.

UMB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.45%. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date is Tuesday, December 10th. UMB Financial’s dividend payout ratio is currently 19.50%.

Insider Activity at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 10,115 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $93.00, for a total transaction of $940,695.00. Following the sale, the chief executive officer now directly owns 257,796 shares of the company’s stock, valued at approximately $23,975,028. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO J Mariner Kemper sold 10,115 shares of the stock in a transaction 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 sale, the chief executive officer now owns 257,796 shares in the company, valued at approximately $23,975,028. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Pauls sold 1,623 shares of UMB Financial stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $92.97, for a total transaction of $150,890.31. Following the sale, the executive vice president now directly owns 7,332 shares of the company’s stock, valued at $681,656.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,038 shares of company stock valued at $4,078,068. Insiders own 8.85% of the company’s stock.

Hedge Funds Weigh In On UMB Financial

Several institutional investors and hedge funds have recently modified their holdings of UMBF. V Square Quantitative Management LLC bought a new stake in UMB Financial in the 3rd quarter valued at about $26,000. 1620 Investment Advisors Inc. acquired a new stake in UMB Financial during the second quarter worth approximately $128,000. CWM LLC raised its holdings in UMB Financial by 7.1% in the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock valued at $162,000 after acquiring an additional 129 shares in the last quarter. Heritage Family Offices LLP acquired a new position in UMB Financial in the third quarter valued at about $203,000. Finally, Greenleaf Trust acquired a new stake in UMB Financial during the third quarter worth about $233,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

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.