UMB Financial price target raised to $148 from $135 at Piper Sandler

Piper Sandler raised the firm’s price target on UMB Financial (UMBF) to $148 from $135 and keeps an Overweight rating on the shares. The firm cites strong upside potential to estimates given likely conservative guidance following the conference call and with pieces in place to generate price to earnings expansion above peers. Moreover, Piper believes UMB’s acquisition of Heartland Financial (HTLF) is progressing better than expected thus far and will result in consistently superior through-cycle profitability via solid upside potential to the 27.5% cost saves target and with the addition of Heartland’s relatively lower-cost deposit base.