UMB Financial (NASDAQ:UMBF) Sets New 1-Year High – Here’s Why

UMB Financial Co. (NASDAQ:UMBF)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $109.52 and last traded at $109.52, with a volume of 58632 shares changing hands. The stock had previously closed at $105.53.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays upped their price target on shares of UMB Financial from $100.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler upped their target price on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their price target on UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, Citigroup initiated coverage on UMB Financial in a research note on Thursday. They issued a “buy” rating and a $127.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, UMB Financial currently has an average rating of “Moderate Buy” and a consensus price target of $105.86.

UMB Financial Stock Up 2.8 %

The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 13.62 and a beta of 0.78. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $101.02 and a 200-day moving average price of $90.32.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, July 30th. The bank reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.15. The firm had revenue of $390.03 million for the quarter, compared to the consensus estimate of $384.96 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.93 EPS. As a group, equities analysts anticipate that UMB Financial Co. will post 8.98 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.44%. The ex-dividend date was Tuesday, September 10th. UMB Financial’s payout ratio is 20.13%.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, Director Tamara Peterman bought 396 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $99.56 per share, with a total value of $39,425.76. Following the completion of the transaction, the director now directly owns 7,407 shares in the company, valued at approximately $737,440.92. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other UMB Financial news, insider Robert Brian Beaird sold 698 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $93.19, for a total value of $65,046.62. Following the completion of the sale, the insider now owns 6,682 shares in the company, valued at $622,695.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tamara Peterman purchased 396 shares of the stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $99.56 per share, for a total transaction of $39,425.76. Following the completion of the acquisition, the director now owns 7,407 shares in the company, valued at $737,440.92. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 42,596 shares of company stock valued at $4,224,884 in the last three months. 8.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UMB Financial

A number of hedge funds have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new stake in UMB Financial in the second quarter worth approximately $128,000. CWM LLC boosted its holdings in UMB Financial by 7.1% in the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after purchasing an additional 129 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in UMB Financial during the first quarter worth $252,000. SG Americas Securities LLC raised its holdings in UMB Financial by 69.5% during the third quarter. SG Americas Securities LLC now owns 2,478 shares of the bank’s stock valued at $260,000 after buying an additional 1,016 shares in the last quarter. Finally, Profund Advisors LLC lifted its position in shares of UMB Financial by 6.7% in the second quarter. Profund Advisors LLC now owns 3,493 shares of the bank’s stock worth $291,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

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.