Is UMB Financial Corp. overvalued or undervalued?

As of 21 November 2025, UMB Financial Corp. has moved from an attractive to a fair valuation grade. The company appears to be fairly valued based on its current metrics. Key ratios include a P/E ratio of 21, a price to book value of 1.28, and a return on equity (ROE) of 6.11%. In comparison to peers, Comerica, Inc. has a P/E of 21.53, while Old National Bancorp stands at 15.09, indicating that UMB Financial is positioned in the middle of its peer group.
Despite its fair valuation, UMB Financial Corp. has underperformed relative to the S&P 500 over multiple periods, with a year-to-date return of -3.57% compared to the S&P 500's 12.26%. This trend suggests that while the stock may be fairly valued, it is not currently delivering competitive returns relative to broader market indices.