Wells Fargo analyst Timur Braziler raised the firm’s price target on UMB Financial (UMBF) to $90 from $88 and keeps an Equal Weight rating on the shares. Deal speculation materialized on Monday, with the Heartland Financial (HTLF) combo creating the 35th largest bank, the firm says. The financials of the deal are attractive, although shares likely range-bound given time to deal closing and realization of cost saves.
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- UMB Financial in discussions to buy Heartland Financial, Bloomberg reports
- UMB Financial initiated with an Equal Weight at Barclays