UMB Financial (NASDAQ:UMBF) Reaches New 1-Year High – Here’s What Happened

UMB Financial Corporation (NASDAQ:UMBF)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $146.29 and last traded at $144.51, with a volume of 449 shares changing hands. The stock had previously closed at $144.91.

Wall Street Analyst Weigh In

UMBF has been the subject of a number of recent analyst reports. Citigroup boosted their target price on UMB Financial from $138.00 to $144.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Truist Financial set a $140.00 price objective on shares of UMB Financial in a report on Friday, May 1st. Royal Bank Of Canada raised their target price on shares of UMB Financial from $138.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Morgan Stanley boosted their target price on shares of UMB Financial from $143.00 to $159.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Hovde Group increased their price target on UMB Financial from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $148.09.

UMB Financial Price Performance

The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $10.85 billion, a P/E ratio of 12.67, a P/E/G ratio of 0.96 and a beta of 0.78. The firm has a 50 day moving average price of $130.96 and a 200 day moving average price of $123.78.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.59. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The company had revenue of $739.16 million during the quarter, compared to the consensus estimate of $701.79 million. During the same period in the previous year, the company posted $2.58 EPS. The firm’s revenue was up 31.1% on a year-over-year basis. On average, analysts forecast that UMB Financial Corporation will post 12.83 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be given a dividend of $0.43 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.2%. UMB Financial’s dividend payout ratio is currently 15.26%.

Insider Buying and Selling at UMB Financial

In other news, Director Kevin Charles Gallagher sold 381 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total transaction of $50,627.28. Following the completion of the transaction, the director owned 12,223 shares in the company, valued at $1,624,192.24. This trade represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President James D. Rine sold 8,246 shares of UMB Financial stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $132.59, for a total value of $1,093,337.14. Following the completion of the sale, the president directly owned 61,446 shares in the company, valued at $8,147,125.14. This trade represents a 11.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On UMB Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV increased its stake in UMB Financial by 4.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,563 shares of the bank’s stock worth $295,000 after acquiring an additional 102 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of UMB Financial by 3.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,910 shares of the bank’s stock valued at $335,000 after acquiring an additional 108 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of UMB Financial by 1.8% in 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 in the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of UMB Financial by 1.7% in 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 in the last quarter. Finally, Quadrant Capital Group LLC increased its position in UMB Financial by 0.8% in the third quarter. Quadrant Capital Group LLC now owns 16,560 shares of the bank’s stock worth $1,960,000 after purchasing an additional 129 shares during the last quarter. 87.78% of the stock is owned by institutional investors.

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.