UMB Financial’s (UMBF) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of UMB Financial (NASDAQ:UMBF) in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a $128.00 price objective on the bank’s stock.

UMBF has been the subject of a number of other research reports. Morgan Stanley initiated coverage on UMB Financial in a research report on Thursday, November 21st. They issued an “overweight” rating and a $156.00 price target for the company. StockNews.com upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday. Piper Sandler lifted their price objective on shares of UMB Financial from $142.00 to $143.00 and gave the stock an “overweight” rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on shares of UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Barclays increased their target price 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. Three investment 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.63.

UMB Financial Stock Down 1.8 %

UMBF stock opened at $120.30 on Thursday. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 13.38 and a beta of 0.82. 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 52 week low of $76.00 and a 52 week high of $129.94. The firm’s 50-day moving average is $119.10 and its two-hundred day moving average is $109.58.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results 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 15.76% and a return on equity of 13.90%. During the same period in the prior year, the business posted $2.29 earnings per share. On average, analysts forecast that UMB Financial will post 9.4 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.33%. The ex-dividend date is Monday, March 10th. UMB Financial’s dividend payout ratio (DPR) is presently 17.80%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Monument Capital Management lifted its stake in shares of UMB Financial by 9.6% during the fourth quarter. Monument Capital Management now owns 2,920 shares of the bank’s stock valued at $330,000 after acquiring an additional 255 shares during the period. Congress Asset Management Co. boosted its stake in shares of UMB Financial by 8.0% in the 4th quarter. Congress Asset Management Co. now owns 125,604 shares of the bank’s stock valued at $14,176,000 after purchasing an additional 9,349 shares during the last quarter. Rhumbline Advisers grew its position in shares of UMB Financial by 0.3% during the 4th quarter. Rhumbline Advisers now owns 157,642 shares of the bank’s stock worth $17,791,000 after buying an additional 510 shares during the period. Vontobel Holding Ltd. raised its stake in shares of UMB Financial by 107.8% during the fourth quarter. Vontobel Holding Ltd. now owns 5,545 shares of the bank’s stock worth $626,000 after buying an additional 2,877 shares during the last quarter. Finally, R Squared Ltd acquired a new position in UMB Financial in the fourth quarter valued at approximately $117,000. 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.