UMB Financial's Bright Horizon: Analyst Foresees NII Surge In 2H Amid Rising Loan Yields
Portfolio Pulse from Nabaparna Bhattacharya
Piper Sandler analyst Nathan J. Race has upgraded UMB Financial Corporation (NASDAQ:UMBF) to Overweight from Neutral, with a price target of $74. The analyst expects UMBF to generate superior Net Interest Income (NII) growth in 2H23 and 2024 due to rising loan yields. UMBF's strong fee income growth prospects and unique business mix are also expected to contribute to its superior trajectory in overall revenue. UMBF shares are trading higher by 3.19% to $63.84 on Wednesday.
September 13, 2023 | 6:43 pm
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UMBF has been upgraded to Overweight from Neutral by Piper Sandler analyst Nathan J. Race, who expects the company to generate superior NII growth in 2H23 and 2024. The company's shares are trading higher by 3.19% to $63.84.
The upgrade by Piper Sandler analyst Nathan J. Race is a positive signal for UMBF. The expectation of superior NII growth in 2H23 and 2024, along with the company's strong fee income growth prospects, are likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100