UMB Financial (NASDAQ:UMBF) Reaches New 12-Month High Following Better-Than-Expected Earnings

UMB Financial Corporation (NASDAQ:UMBF) shares hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $149.63 and last traded at $148.6830, with a volume of 534650 shares traded. The stock had previously closed at $143.98.

The bank reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The business had revenue of $778.00 million for the quarter, compared to the consensus estimate of $727.63 million. During the same period in the prior year, the business earned $2.96 EPS.

UMB Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be paid a dividend of $0.50 per share. This is an increase from UMB Financial’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. UMB Financial’s dividend payout ratio (DPR) is currently 14.32%.

Wall Street Analyst Weigh In

UMBF has been the topic of a number of research reports. Truist Financial set a $170.00 price target on UMB Financial and gave the stock a “buy” rating in a research note on Tuesday, August 4th. TD Cowen reaffirmed a “buy” rating and set a $166.00 price target (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Keefe, Bruyette & Woods upped their price target on UMB Financial from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Hovde Group upped their price target on UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, Citigroup reaffirmed a “neutral” rating and set a $162.00 price target (up from $144.00) on shares of UMB Financial in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.00.

Insider Activity at UMB Financial

In related news, CEO J Mariner Kemper sold 15,062 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $148.55, for a total transaction of $2,237,460.10. Following the completion of the sale, the chief executive officer directly owned 1,491,138 shares of the company’s stock, valued at approximately $221,508,549.90. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Phillip James Mason sold 800 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $147.00, for a total value of $117,600.00. Following the sale, the insider directly owned 8,894 shares of the company’s stock, valued at $1,307,418. The trade was a 8.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 34,171 shares of company stock valued at $4,919,826 in the last ninety days. Insiders own 5.33% of the company’s stock.

Institutional Trading of UMB Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV grew its holdings in UMB Financial by 4.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,563 shares of the bank’s stock valued at $295,000 after purchasing an additional 102 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in UMB Financial by 3.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,910 shares of the bank’s stock valued at $335,000 after purchasing an additional 108 shares during the period. Concurrent Investment Advisors LLC grew its holdings in UMB Financial by 1.8% during the fourth quarter. Concurrent Investment Advisors LLC now owns 6,424 shares of the bank’s stock valued at $739,000 after purchasing an additional 112 shares during the period. Greenleaf Trust grew its holdings in UMB Financial by 4.7% during the second quarter. Greenleaf Trust now owns 2,506 shares of the bank’s stock valued at $358,000 after purchasing an additional 113 shares during the period. Finally, First Citizens Bank & Trust Co. grew its holdings in UMB Financial by 1.7% during the first quarter. First Citizens Bank & Trust Co. now owns 7,272 shares of the bank’s stock valued at $820,000 after purchasing an additional 125 shares during the period. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Trading Down 0.6%

The firm has a fifty day simple moving average of $143.63 and a two-hundred day simple moving average of $130.28. The firm has a market capitalization of $11.01 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 0.72 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76.

UMB Financial Company Profile

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.