JPMorgan Chase & Co. Cuts UMB Financial (NASDAQ:UMBF) Price Target to $160.00

UMB Financial (NASDAQ:UMBF) had its price target lowered by JPMorgan Chase & Co. from $180.00 to $160.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

UMBF has been the topic of a number of other reports. Stephens started coverage on shares of UMB Financial in a research report on Tuesday, July 14th. They set an “overweight” rating and a $167.00 price objective on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $181.00 target price (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Zacks Research cut shares of UMB Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Weiss Ratings reissued a “buy (b)” rating on shares of UMB Financial in a research note on Friday, July 24th. Finally, UBS Group assumed coverage on shares of UMB Financial in a report on Monday, September 14th. They issued a “neutral” rating and a $155.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.00.

UMB Financial Trading Up 0.9%

NASDAQ UMBF opened at $130.94 on Thursday. UMB Financial has a fifty-two week low of $68.92 and a fifty-two week high of $144.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a 50 day simple moving average of $141.73 and a two-hundred day simple moving average of $133.53. The stock has a market cap of $9.94 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 0.64 and a beta of 0.82.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The firm had revenue of $778.00 million for the quarter, compared to analyst estimates of $727.63 million. During the same period last year, the company earned $2.96 EPS. On average, analysts forecast that UMB Financial will post 13.53 earnings per share for the current year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were paid a dividend of $0.50 per share. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, September 10th. UMB Financial’s payout ratio is 16.65%.

Insider Activity

In other news, insider Phillip Mason sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $147.00, for a total value of $117,600.00. Following the sale, the insider directly owned 8,894 shares of the company’s stock, valued at $1,307,418. The trade was a 8.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Beaird sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $144.40, for a total value of $231,040.00. Following the completion of the sale, the insider owned 8,943 shares in the company, valued at $1,291,369.20. The trade was a 15.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 25,544 shares of company stock valued at $3,775,862. 5.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UMB Financial

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in UMB Financial in the 2nd quarter worth about $1,458,386,000. Dimensional Fund Advisors LP increased its stake in UMB Financial by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank’s stock valued at $328,200,000 after purchasing an additional 55,005 shares in the last quarter. Bank of America Corp DE purchased a new position in UMB Financial in the second quarter worth about $129,153,000. First Trust Advisors LP raised its holdings in UMB Financial by 12.0% in the first quarter. First Trust Advisors LP now owns 899,400 shares of the bank’s stock worth $101,443,000 after buying an additional 96,149 shares during the last quarter. Finally, Norges Bank bought a new position in shares of UMB Financial in the fourth quarter worth approximately $85,885,000. 87.78% of the stock is owned by institutional investors.

UMB Financial Company Profile

UMB Financial Corporation is a financial services holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to businesses, institutions, governments and individuals. The company traces its history to 1913 and has developed a regional banking franchise with additional capabilities serving customers nationwide.

UMB’s business activities include commercial and personal banking, treasury management, lending, deposit services and payment solutions.