UMB Financial (NASDAQ:UMBF) Sees Large Volume Increase Following Analyst Upgrade

UMB Financial Co. (NASDAQ:UMBF) saw unusually-high trading volume on Wednesday after Wells Fargo & Company raised their price target on the stock from $88.00 to $90.00. Wells Fargo & Company currently has an equal weight rating on the stock. Approximately 858,418 shares traded hands during trading, an increase of 227% from the previous session’s volume of 262,190 shares.The stock last traded at $80.56 and had previously closed at $79.66.

Other analysts have also recently issued reports about the stock. Piper Sandler lifted their target price on shares of UMB Financial from $87.50 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. StockNews.com upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, March 16th. Keefe, Bruyette & Woods lifted their price objective on shares of UMB Financial from $86.00 to $93.00 and gave the company a “market perform” rating in a research note on Tuesday. Raymond James lifted 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 note on Thursday, February 1st. Finally, Barclays upgraded shares of UMB Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $91.00 to $95.00 in a research note on Tuesday. Three 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Insider Activity at UMB Financial

In related news, CEO J Mariner Kemper sold 1,440 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $86.59, for a total value of $124,689.60. Following the completion of the transaction, the chief executive officer now directly owns 1,762,904 shares in the company, valued at approximately $152,649,857.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Abigail M. Wendel sold 1,182 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $80.70, for a total value of $95,387.40. Following the completion of the transaction, the insider now directly owns 15,217 shares in the company, valued at approximately $1,228,011.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO J Mariner Kemper sold 1,440 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $86.59, for a total transaction of $124,689.60. Following the completion of the sale, the chief executive officer now directly owns 1,762,904 shares of the company’s stock, valued at approximately $152,649,857.36. The disclosure for this sale can be found here. Insiders sold a total of 27,277 shares of company stock worth $2,264,661 in the last three months. Company insiders own 8.85% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of UMB Financial by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,310,807 shares of the bank’s stock worth $360,168,000 after buying an additional 44,150 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of UMB Financial by 73.5% during the third quarter. Wellington Management Group LLP now owns 2,586,701 shares of the bank’s stock worth $160,505,000 after buying an additional 1,095,630 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of UMB Financial by 15.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,997,303 shares of the bank’s stock worth $166,875,000 after buying an additional 265,399 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of UMB Financial by 3.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,905,072 shares of the bank’s stock worth $165,722,000 after buying an additional 63,022 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of UMB Financial by 4.3% during the third quarter. American Century Companies Inc. now owns 1,817,350 shares of the bank’s stock worth $112,767,000 after buying an additional 75,140 shares in the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

UMB Financial Price Performance

The stock’s fifty day moving average price is $81.80 and its 200-day moving average price is $77.97. 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 has a market cap of $3.89 billion, a PE ratio of 10.60 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 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.53. The firm had revenue of $370.80 million for the quarter, compared to analysts’ expectations of $360.69 million. UMB Financial had a net margin of 14.59% and a return on equity of 14.59%. The company’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.06 EPS. As a group, equities analysts expect that UMB Financial Co. will post 7.41 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be given a dividend of $0.39 per share. The ex-dividend date is Monday, June 10th. This represents a $1.56 annualized dividend and a dividend yield of 1.95%. UMB Financial’s payout ratio is 20.72%.

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.