UMB Financial (NASDAQ:UMBF) Given Sector Perform Rating at Royal Bank of Canada

UMB Financial (NASDAQ:UMBF)‘s stock had its “sector perform” rating restated by stock analysts at Royal Bank of Canada in a research note issued on Thursday,Benzinga reports. They presently have a $128.00 price target on the bank’s stock. Royal Bank of Canada’s price target suggests a potential upside of 5.69% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company boosted their target price on shares of UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. StockNews.com raised shares of UMB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday. 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 price target on the stock. Barclays boosted their price objective on shares of UMB Financial from $123.00 to $139.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Citigroup started coverage on UMB Financial in a report on Thursday, October 10th. They issued a “buy” rating and a $127.00 target price on the stock. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, UMB Financial has a consensus rating of “Moderate Buy” and a consensus target price of $126.63.

UMB Financial Price Performance

Shares of NASDAQ:UMBF traded down $1.45 during midday trading on Thursday, reaching $121.11. 379,758 shares of the company were exchanged, compared to its average volume of 571,554. The stock has a market cap of $5.91 billion, a PE ratio of 15.16 and a beta of 0.82. The business’s fifty day moving average is $119.10 and its two-hundred day moving average is $109.58. 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 has a one year low of $76.00 and a one year high of $129.94.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same quarter last year, the business posted $2.29 earnings per share. As a group, analysts predict that UMB Financial will post 9.23 earnings per share for the current year.

Insider Buying and Selling at UMB Financial

In related news, insider Robert Brian Beaird sold 854 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 5,828 shares of the company’s stock, valued at approximately $719,058.64. The trade was a 12.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Mariner Kemper sold 24,300 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $108.83, for a total value of $2,644,569.00. Following the transaction, the chief executive officer now directly owns 1,576,604 shares of the company’s stock, valued at $171,581,813.32. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,303 shares of company stock worth $5,879,967 over the last 90 days. 8.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On UMB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in UMB Financial during the third quarter valued at about $26,000. Covestor Ltd increased its stake in UMB Financial by 31.0% during the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after acquiring an additional 102 shares during the period. USA Financial Formulas increased its stake in UMB Financial by 124.7% during the fourth quarter. USA Financial Formulas now owns 483 shares of the bank’s stock valued at $55,000 after acquiring an additional 268 shares during the period. Point72 Asset Management L.P. bought a new position in UMB Financial during the third quarter valued at about $83,000. Finally, R Squared Ltd bought a new position in UMB Financial during the fourth quarter valued at about $117,000. 87.78% of the stock is currently owned by institutional investors.

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.