UMB Financial (NASDAQ:UMBF) Hits New 52-Week High – Time to Buy?

UMB Financial Corporation (NASDAQ:UMBF) hit a new 52-week high during trading on Tuesday . The stock traded as high as $137.62 and last traded at $137.3650, with a volume of 40735 shares trading hands. The stock had previously closed at $136.94.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on UMBF. Royal Bank Of Canada increased their price target on UMB Financial from $138.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Zacks Research raised shares of UMB Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Barclays raised their target price on shares of UMB Financial from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Hovde Group lifted their target price on shares of UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, Piper Sandler boosted their price target on shares of UMB Financial from $152.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $145.55.

UMB Financial Stock Performance

The stock has a market capitalization of $10.52 billion, a PE ratio of 12.28, a P/E/G ratio of 0.90 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50 day moving average of $128.38 and a 200-day moving average of $122.64.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.59. The company had revenue of $739.16 million for the quarter, compared to analysts’ expectations of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The business’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.58 EPS. Research analysts forecast that UMB Financial Corporation will post 12.8 earnings per share for the current year.

UMB Financial Dividend Announcement

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On UMB Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in UMBF. UMB Bank n.a. lifted its holdings in shares of UMB Financial by 11.4% during the 4th quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank’s stock valued at $553,322,000 after buying an additional 493,875 shares during the last quarter. State Street Corp raised its holdings in UMB Financial by 7.9% during the second quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock valued at $453,461,000 after buying an additional 313,414 shares in the last quarter. Wellington Management Group LLP raised its holdings in UMB Financial by 32.0% during the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock valued at $366,743,000 after buying an additional 751,525 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of UMB Financial by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank’s stock worth $328,200,000 after buying an additional 55,005 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of UMB Financial by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,907,978 shares of the bank’s stock worth $219,529,000 after buying an additional 33,078 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other 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.