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

UMB Financial Corporation (NASDAQ:UMBF) hit a new 52-week high on Monday . The company traded as high as $146.29 and last traded at $144.51, with a volume of 449 shares traded. The stock had previously closed at $144.91.

Analyst Ratings Changes

Several brokerages recently issued reports on UMBF. Piper Sandler upped their target price on UMB Financial from $155.00 to $161.00 and gave the company an “overweight” rating in a research report on Friday. Truist Financial set a $140.00 target price on shares of UMB Financial in a report on Friday, May 1st. Hovde Group upped their price target on shares of UMB Financial from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. TD Cowen increased their price target on shares of UMB Financial from $141.00 to $147.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Morgan Stanley cut their price objective on shares of UMB Financial from $156.00 to $143.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $146.64.

UMB Financial Stock Down 1.0%

The business has a 50-day moving average price of $130.15 and a 200-day moving average price of $123.41. The stock has a market cap of $10.91 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06.

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

UMB Financial Announces Dividend

The business also recently disclosed 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 yield of 1.2%. UMB Financial’s dividend payout ratio (DPR) is presently 15.26%.

Insider Activity

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

Institutional Investors Weigh In On UMB Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MBM Wealth Consultants LLC purchased a new position in shares of UMB Financial during the 1st quarter worth $26,000. Kemnay Advisory Services Inc. purchased a new position in UMB Financial during the fourth quarter worth about $27,000. Axiom Investment Management LLC purchased a new position in UMB Financial during the first quarter worth about $28,000. Hilton Head Capital Partners LLC acquired a new stake in shares of UMB Financial during the fourth quarter valued at about $34,000. Finally, Torren Management LLC acquired a new stake in shares of UMB Financial during the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 87.78% of the company’s stock.

About UMB Financial

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.