UMB Financial Co. to Issue Quarterly Dividend of $0.39 (NASDAQ:UMBF)

UMB Financial Co. (NASDAQ:UMBF) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Shareholders of record on Monday, June 10th will be paid a dividend of 0.39 per share by the bank on Monday, July 1st. This represents a $1.56 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Monday, June 10th.

UMB Financial has raised its dividend payment by an average of 7.0% annually over the last three years and has raised its dividend every year for the last 31 years. UMB Financial has a payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect UMB Financial to earn $7.64 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 20.4%.

UMB Financial Price Performance

Shares of NASDAQ UMBF traded up $1.91 during trading on Tuesday, hitting $79.66. 1,507,426 shares of the company were exchanged, compared to its average volume of 257,434. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.72 and a quick ratio of 0.72. The firm’s fifty day moving average price is $81.85 and its 200 day moving average price is $77.83. UMB Financial has a 1 year low of $50.68 and a 1 year high of $87.36. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 11.29 and a beta of 0.83.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Wednesday, January 31st. The bank reported $2.29 EPS for the quarter, topping the consensus estimate of $1.76 by $0.53. The business had revenue of $370.80 million for the quarter, compared to analyst estimates of $360.69 million. UMB Financial had a return on equity of 13.75% and a net margin of 14.70%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.06 EPS. On average, sell-side analysts expect that UMB Financial will post 7.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO J Mariner Kemper sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $83.10, for a total transaction of $290,850.00. Following the sale, the chief executive officer now owns 252,114 shares in the company, valued at $20,950,673.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other UMB Financial news, insider Abigail M. Wendel sold 1,182 shares of UMB Financial stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $80.70, for a total transaction of $95,387.40. Following the completion of the sale, the insider now owns 15,217 shares of the company’s stock, valued at approximately $1,228,011.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO J Mariner Kemper sold 3,500 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $83.10, for a total transaction of $290,850.00. Following the completion of the transaction, the chief executive officer now directly owns 252,114 shares in the company, valued at $20,950,673.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,277 shares of company stock worth $2,264,661. Corporate insiders own 8.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on UMBF. Keefe, Bruyette & Woods increased their price target on shares of UMB Financial from $86.00 to $93.00 and gave the company a “market perform” rating in a research report on Tuesday. StockNews.com raised UMB Financial from a “sell” rating to a “hold” rating in a report on Saturday, March 16th. Piper Sandler increased their price objective on UMB Financial from $87.50 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Barclays upgraded UMB Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $91.00 to $95.00 in a research note on Tuesday. Finally, Raymond James boosted their price objective on shares of UMB Financial from $80.00 to $102.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, UMB Financial currently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

UMB Financial Company Profile

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.