UMB Financial (NASDAQ:UMBF) Director Purchases $19,685.85 in Stock

UMB Financial Corporation (NASDAQ:UMBF) Director Tamara Peterman acquired 185 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were acquired at an average price of $106.41 per share, with a total value of $19,685.85. Following the acquisition, the director owned 9,128 shares in the company, valued at approximately $971,310.48. The trade was a 2.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

UMB Financial Stock Up 1.0%

Shares of UMBF traded up $1.08 during midday trading on Wednesday, hitting $107.36. 36,947 shares of the company’s stock traded hands, compared to its average volume of 615,696. UMB Financial Corporation has a 1 year low of $82.00 and a 1 year high of $129.94. The firm’s fifty day moving average is $117.32 and its 200-day moving average is $109.90. The company has a current ratio of 0.75, a quick ratio of 0.77 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.11 and a beta of 0.80.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, October 28th. The bank reported $2.70 EPS for the quarter, beating the consensus estimate of $2.48 by $0.22. UMB Financial had a return on equity of 12.15% and a net margin of 16.01%.The firm had revenue of $678.34 million during the quarter, compared to analyst estimates of $661.60 million. During the same quarter in the prior year, the business posted $2.25 EPS. The business’s revenue for the quarter was up 67.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Wednesday, December 10th will be issued a dividend of $0.43 per share. The ex-dividend date is Wednesday, December 10th. This represents a $1.72 annualized dividend and a dividend yield of 1.6%. This is a boost from UMB Financial’s previous quarterly dividend of $0.40. UMB Financial’s dividend payout ratio (DPR) is currently 19.48%.

Institutional Investors Weigh In On UMB Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in UMB Financial by 54.0% during the 1st quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank’s stock worth $741,342,000 after purchasing an additional 2,570,283 shares during the period. State Street Corp grew its position in UMB Financial by 7.9% during the 2nd quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock worth $453,461,000 after purchasing an additional 313,414 shares during the period. Dimensional Fund Advisors LP grew its position in UMB Financial by 78.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank’s stock worth $273,029,000 after purchasing an additional 1,185,671 shares during the period. Wellington Management Group LLP grew its position in UMB Financial by 19.1% during the 1st quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank’s stock worth $243,359,000 after purchasing an additional 385,830 shares during the period. Finally, American Century Companies Inc. grew its position in shares of UMB Financial by 7.7% during the 1st quarter. American Century Companies Inc. now owns 2,054,007 shares of the bank’s stock valued at $207,660,000 after acquiring an additional 146,585 shares during the period. 87.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on UMBF. Weiss Ratings upgraded UMB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 24th. Truist Financial upped their target price on UMB Financial from $130.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Piper Sandler reissued an “overweight” rating and issued a $145.00 target price (down from $148.00) on shares of UMB Financial in a research report on Thursday, October 30th. Morgan Stanley upped their target price on UMB Financial from $120.00 to $154.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Finally, Cowen assumed coverage on UMB Financial in a research report on Wednesday, September 24th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, UMB Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.20.

About UMB Financial

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.