UMB Financial (NASDAQ:UMBF) Price Target Cut to $73.00

Posted by Defense World Staff on Apr 9th, 2023

UMB Financial (NASDAQ:UMBF – Get Rating) had its target price trimmed by Raymond James from $104.00 to $73.00 in a research report sent to investors on Thursday morning, The Fly reports. The brokerage currently has an outperform rating on the bank’s stock.

Other equities research analysts also recently issued reports about the company. Janney Montgomery Scott downgraded UMB Financial from a buy rating to a neutral rating and set a $94.00 price target on the stock. in a research report on Thursday, January 26th. They noted that the move was a valuation call. StockNews.com assumed coverage on shares of UMB Financial in a research report on Thursday, March 16th. They issued a hold rating on the stock. Wells Fargo & Company reduced their price objective on UMB Financial from $95.00 to $85.00 and set an equal weight rating for the company in a research note on Wednesday. Finally, Piper Sandler raised their target price on shares of UMB Financial from $86.00 to $89.00 and gave the stock a neutral rating in a research note on Thursday, January 26th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $83.00.

UMB Financial Stock Performance

Shares of NASDAQ:UMBF opened at $58.25 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s 50 day simple moving average is $77.80 and its 200-day simple moving average is $82.13. The firm has a market cap of $2.83 billion, a PE ratio of 6.57 and a beta of 0.76. UMB Financial has a one year low of $51.28 and a one year high of $99.19.

UMB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Friday, March 10th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Thursday, March 9th. UMB Financial’s dividend payout ratio is presently 17.14%.

Insider Transactions at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 4,956 shares of the stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $89.12, for a total value of $441,678.72. Following the transaction, the chief executive officer now directly owns 30,800 shares in the company, valued at $2,744,896. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO J Mariner Kemper sold 4,956 shares of the stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $89.12, for a total transaction of $441,678.72. Following the completion of the sale, the chief executive officer now owns 30,800 shares in the company, valued at $2,744,896. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James Cornelius sold 427 shares of the company’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $90.16, for a total transaction of $38,498.32. Following the transaction, the executive vice president now owns 8,433 shares of the company’s stock, valued at approximately $760,319.28. The disclosure for this sale can be found here. In the last three months, insiders sold 9,503 shares of company stock valued at $847,171. Insiders own 9.77% of the company’s stock.

Hedge Funds Weigh In On UMB Financial

Several hedge funds have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of UMB Financial by 10.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,797 shares of the bank’s stock worth $1,535,000 after purchasing an additional 1,527 shares during the last quarter. BlackRock Inc. lifted its holdings in UMB Financial by 0.3% during the 1st quarter. BlackRock Inc. now owns 5,164,237 shares of the bank’s stock worth $501,757,000 after buying an additional 16,698 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in UMB Financial by 7.2% in the first quarter. Great West Life Assurance Co. Can now owns 23,436 shares of the bank’s stock worth $2,339,000 after purchasing an additional 1,581 shares during the period. Yousif Capital Management LLC boosted its holdings in shares of UMB Financial by 2.3% in the 1st quarter. Yousif Capital Management LLC now owns 23,530 shares of the bank’s stock valued at $2,286,000 after buying an additional 525 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of UMB Financial by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,062,319 shares of the bank’s stock worth $103,218,000 after purchasing an additional 11,391 shares during the period. 87.42% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Company Profile

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UMB Financial Corp. engages in the provision of bank and asset services. It operates through the following segments: Commercial Banking, Institutional Banking, and Personal Banking. The Commercial Banking segment serves the commercial lending and leasing, capital markets, and treasury management needs of the company’s mid-market businesses and governmental entities by offering various products and services.