Raymond James Reiterates Strong Buy Rating on UMB Financial (UMBF)

Raymond James analyst David Long reiterated a Strong Buy rating and $135.00 price target on UMB Financial (NASDAQ: UMBF).

The analyst comments "We reiterate our Strong Buy rating on UMBF shares after hosting investor meetings in New York City featuring Chief Financial Officer Ram Shankar and Chief Credit Officer Tom Terry. The meetings carried an optimistic tone with investors primarily focused on various aspects of the recently closed Heartland (or HTLF) acquisition. While not a surprise given the backdrop, a lot of time was spent discussing credit trends, where investors wanted clarity on the assimilation of Heartland’s loan portfolio, an update on broad-based credit trends, as well as insight into UMB’s credit philosophy that has resulted in peer-leading credit performance through cycles. To sum, we maintain our view that UMBF shares will garner increasing investor interest due to the bank’s diverse operating model, diligent underwriting standards, NIM strength, superior growth prospects, and enhanced EPS growth from the deal."

For an analyst ratings summary and ratings history on UMB Financial click here. For more ratings news on UMB Financial click here.

Shares of UMB Financial closed at $101.50 yesterday.

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