UMB Financial Corporation (UMBF) Plans Quarterly Dividend of $0.28
UMB Financial Corporation (NASDAQ:UMBF) declared a quarterly dividend on Tuesday, October 24th, Zacks reports. Investors of record on Friday, December 8th will be given a dividend of 0.275 per share by the bank on Tuesday, January 2nd. This represents a $1.10 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, December 7th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.26.
UMB Financial has raised its dividend payment by an average of 15.0% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. UMB Financial has a payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect UMB Financial to earn $3.95 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 27.8%.
UMB Financial (UMBF) opened at $74.32 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.04. The firm has a market cap of $3,748.02, a price-to-earnings ratio of 20.42, a P/E/G ratio of 2.46 and a beta of 0.83. UMB Financial has a 1-year low of $62.27 and a 1-year high of $81.55.
Several research firms have recently weighed in on UMBF. Zacks Investment Research downgraded shares of UMB Financial from a “hold” rating to a “sell” rating in a research report on Thursday. Piper Jaffray Companies reissued a “neutral” rating and issued a $74.00 target price on shares of UMB Financial in a research report on Friday, October 6th. Raymond James Financial raised shares of UMB Financial from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 10th. Finally, UBS raised shares of UMB Financial from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $77.20.
In other UMB Financial news, insider Kevin M. Macke sold 1,332 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $75.50, for a total transaction of $100,566.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy R. Murphy bought 1,500 shares of UMB Financial stock in a transaction on Tuesday, September 12th. The shares were purchased at an average cost of $67.50 per share, with a total value of $101,250.00. Following the completion of the purchase, the director now directly owns 4,049 shares in the company, valued at $273,307.50. The disclosure for this purchase can be found here. Insiders own 10.09% of the company’s stock.
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About UMB Financial
UMB Financial Corporation is a diversified financial holding company. The Company supplies banking services, institutional investment management, asset servicing and payment solutions to its customers in the United States and around the globe. The Company’s segments include Bank, which provides a range of banking services to commercial, retail, government and correspondent bank customers through the Company’s branches, call center, Internet banking and automated teller machine network; Institutional Investment Management, which provides equity and fixed income investment strategies in the intermediary and institutional markets, and Asset Servicing, which provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts.
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