Wells Fargo & Company Boosts UMB Financial (NASDAQ:UMBF) Price Target to $107.00

UMB Financial (NASDAQ:UMBF) had its price target raised by analysts at Wells Fargo & Company from $90.00 to $107.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 7.47% from the stock’s previous close.

UMBF has been the subject of a number of other research reports. Barclays upped their price objective on shares of UMB Financial from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Keefe, Bruyette & Woods upgraded shares of UMB Financial from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $93.00 to $98.00 in a research report on Friday, May 31st. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.50.

UMB Financial Stock Performance

NASDAQ:UMBF traded down $2.46 during mid-day trading on Thursday, hitting $99.56. The company’s stock had a trading volume of 29,181 shares, compared to its average volume of 351,969. UMB Financial has a 1 year low of $57.91 and a 1 year high of $105.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 13.22 and a beta of 0.80. The business’s fifty day moving average is $85.87 and its two-hundred day moving average is $83.28.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, July 30th. The bank reported $2.16 EPS for the quarter, beating the consensus estimate of $2.01 by $0.15. UMB Financial had a net margin of 14.55% and a return on equity of 14.47%. The company had revenue of $390.03 million for the quarter, compared to analyst estimates of $384.96 million. During the same period in the prior year, the company earned $1.93 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. Analysts anticipate that UMB Financial will post 8.41 EPS for the current fiscal year.

Insider Activity

In other news, CEO J Mariner Kemper sold 2,100 shares of UMB Financial stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $83.86, for a total value of $176,106.00. Following the sale, the chief executive officer now owns 1,714,304 shares of the company’s stock, valued at $143,761,533.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 20,650 shares of company stock valued at $1,723,425 over the last quarter. Corporate insiders own 8.85% of the company’s stock.

Institutional Trading of UMB Financial

Several hedge funds and other institutional investors have recently made changes to their positions in UMBF. Norges Bank acquired a new stake in shares of UMB Financial in the fourth quarter valued at about $39,376,000. Vanguard Group Inc. raised its position in UMB Financial by 9.2% during the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock worth $409,321,000 after acquiring an additional 394,578 shares during the last quarter. Victory Capital Management Inc. raised its position in UMB Financial by 15.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,997,303 shares of the bank’s stock worth $166,875,000 after acquiring an additional 265,399 shares during the last quarter. GW&K Investment Management LLC acquired a new position in UMB Financial during the fourth quarter worth about $20,367,000. Finally, Dimensional Fund Advisors LP raised its position in UMB Financial by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,544,008 shares of the bank’s stock worth $129,005,000 after acquiring an additional 161,558 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

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.