Piper Sandler raised the firm’s price target on UMB Financial (UMBF) to $137 from $124 and keeps an Overweight rating on the shares. Following strong Q3 results with 2% PPNR upside driven by UMB’s higher multiple/less capital intensive fee businesses, the firm remains bullish with additional outperformance expected. Apart from likely continued above average operating leverage in Q4, Piper believes UMB’s pending and progressing-as-planned Heartland Financial (HTLF) acquisition will provide additional company-specific catalysts next year.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UMBF:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue