Truist Cuts UMB Financial (UMBF) Price Target, Morgan Stanley Raises

UMB Financial Corporation (NASDAQ:UMBF) is one of the 11 Best American Bank Stocks to Buy According to Wall Street Analysts. On March 23, Truist Securities analyst Brian Foran reduced the firm’s price target on UMB Financial Corporation (NASDAQ:UMBF) from $150 to $130 while maintaining a Buy rating on the stock.

This update comes as part of a broader research note on the financial sector. Brian Foran told investors in a research note that Truist Securities is updating its models to reflect a higher cost of equity, which has led to lower valuation multiples compared to historical levels.

However, earlier, on March 2, Morgan Stanley increased its price target on UMB Financial Corporation (NASDAQ:UMBF) from $154 to $156 and kept its Overweight rating on the stock.

Morgan Stanley said that it is raising price targets by a median of 8% across mid-cap banks. The research firm highlighted the recent outperformance by the group and noted that “the bar is higher from here.” Despite this, Morgan Stanley is staying optimistic on mid-cap banks, pointing to tailwinds from loan growth, net interest margins, and capital returns.

UMB Financial Corporation (NASDAQ:UMBF) is a financial services company, offering commercial banking, personal banking, and institutional banking products and services. The company serves business clients nationwide in the US and institutional clients in several countries.

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