RBC Capital analyst Jon Arfstrom raised the firm’s price target on UMB Financial (UMBF) to $128 from $122 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q3 results for Regional Banks. The firm’s model revisions are “modest”, with outlooks seen as relatively stable from Q2 earnings, the analyst tells investors in a research note. RBC sees fundamentals being supported by margin momentum and strengthening loan growth, with key themes for the quarter being around growth expectations, margin outlook trends, and M&A discussions, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UMBF:
- UMB Financial price target raised to $155 from $150 at Barclays
- UMB Financial price target raised to $154 from $120 at Morgan Stanley
- UMB Financial price target raised to $130 from $125 at Wells Fargo
- UMB Financial initiated with a Buy at TD Cowen
- UMB Financial price target raised to $144 from $130 at Truist