TD Cowen raised the firm’s price target on UMB Financial (UMBF) to $147 from $141 and keeps a Buy rating on the shares. The firm said EPS beat led by 9 bps NIM expansion and loan growth. Middle market C&I strength drove double-digits loan growth and is expected to continue, while continued strength in Institutional Banking performance helps ease concerns around potential pressure on fees/deposits amid recent headlines.
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