UMB Financial Corporation (NASDAQ:UMBF) Increases Dividend to $0.50 Per Share

UMB Financial Corporation (NASDAQ:UMBF) declared a quarterly dividend on Tuesday, July 28th. Stockholders of record on Thursday, September 10th will be given a dividend of 0.50 per share by the bank on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. This is a 16.3% increase from UMB Financial’s previous quarterly dividend of $0.43.

UMB Financial has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 32 consecutive years. UMB Financial has a payout ratio of 15.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect UMB Financial to earn $13.60 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 12.6%.

UMB Financial Price Performance

Shares of UMBF traded up $2.88 during trading hours on Wednesday, hitting $146.86. 118,778 shares of the stock were exchanged, compared to its average volume of 630,903. The stock’s 50-day moving average price is $137.78 and its two-hundred day moving average price is $127.32. UMB Financial has a 12-month low of $103.38 and a 12-month high of $148.31. 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 company has a market cap of $11.16 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 0.78 and a beta of 0.77.

Shares of UMB Financial are scheduled to split on Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly minted shares will be distributed to shareholders after the closing bell on Monday, August 31st.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.12 by $0.45. The business had revenue of $778.00 million during the quarter, compared to analyst estimates of $727.63 million. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. During the same quarter in the prior year, the firm earned $2.96 earnings per share. Research analysts expect that UMB Financial will post 12.85 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays increased their price target on UMB Financial from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Piper Sandler raised their target price on UMB Financial from $155.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Wells Fargo & Company boosted their price target on shares of UMB Financial from $130.00 to $139.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. TD Cowen upped their price objective on shares of UMB Financial from $141.00 to $147.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Morgan Stanley raised their price objective on shares of UMB Financial from $143.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $152.17.

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.