The stock of UMB Financial Corporation (NASDAQ:UMBF) is now priced at $46.15 and the shares are -0.22 points down or -0.47% lower compared to its previous closing price of $46.37. The stock had 281933 contracts set over the past session. UMBF shares’ daily volume is compared to its average trading volume at 0.335 million shares. However, it has a float of 43.15 million and although its performance was -7.76% over the week, it’s one to watch. Analysts have given the UMBF stock a yearly average price target of $58.57 per share. It means the stock’s upside potential is 26.91% with the UMBF share price recently placing at $46.18 to $47.48. However, some brokerage firms have priced the stock below the average, including one that has called $48.
The shorts are climbing into the UMB Financial Corporation stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the UMBF shares have risen. Short interest in the stock represents just 2.6% of its float, but the volume has raised by 107473. The volume of shorted shares rised to 1.12 million from 1.012 million shares over the last two weeks. The average intraday trading volume has been 293074 shares, which means that days to cover moved to roughly 3.820994.
In the last trading session, UMB Financial Corporation (NASDAQ:UMBF) dropped by -$5.4 over the week and lost -$15.44 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $70.26. The stock recorded its established 52-week high on 02/06/20.
Since 03/23/20, the stock has traded to a low of $39.47 at 16.92%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.05. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, UMB Financial Corporation’s two-week RSI is 39.94. This suggests that the stock is neutral at the moment and that UMBF shares’ price movement remains stable. The stochastic readings are equally revealing at 10.42% meaning the UMBF share price is currently in overbought territory.
The technical chart shows that the UMBF stock will likely settle at between $47.17 and $47.98 per share. However, if the stock dips below $45.87, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $45.38.
Currently, the stock is trading in the red of MACD, with a reading of -1.6. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Wells Fargo cut their recommendation for UMBF from Equal Weight to Underweight in January 06 review while maintai their target price of $60. Stephens analysts see the stock as a Overweight with a target price of $74 and $75 in a flash note released to investors on September 16 resuming covering the stock. Raymond James seeing the improvements upgraded the stock from Mkt Perform to Outperform on January 31.
The average rating for the UMBF equity is 2.71 and is currently gathering a bullish momentum. Of 7 analysts tracking UMB Financial Corporation polled by Reuters, 4 rated UMBF as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the UMBF stock price is 13.53X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 12.5 above the group’s average of 10.6. UMB Financial Corporation has its P/E ratio at 0.8, which means that the stock is currently trading at a discount relative to the 0.8 industry average.