UMB Financial price target raised to $155 from $152 at Piper Sandler

Piper Sandler raised the firm’s price target on UMB Financial (UMBF) to $155 from $152 and keeps an Overweight rating on the shares with likely forward price to earnings expansion above peers as organic growth and profitability likely remain above average, as well as with the high likelihood for additional upward estimate revisions. The firm notes UMB delivered an impressive start to this year with 16% PPNR upside via broad-based outperformance across net interest income, net interest margin, operating expenses, and core fee income.