UMB Financial (NASDAQ:UMBF) Hits New 12-Month High – What’s Next?

Shares of UMB Financial Corporation (NASDAQ:UMBF) hit a new 52-week high during trading on Tuesday . The stock traded as high as $150.00 and last traded at $149.4510, with a volume of 213711 shares. The stock had previously closed at $147.04.

Analysts Set New Price Targets

UMBF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their price objective on UMB Financial from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of UMB Financial in a research report on Friday, July 24th. Royal Bank Of Canada restated an “outperform” rating and set a $170.00 price target (up from $168.00) on shares of UMB Financial in a report on Thursday, July 30th. TD Cowen reaffirmed a “buy” rating and issued a $166.00 price objective (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Finally, Zacks Research lowered shares of UMB Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, UMB Financial presently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

UMB Financial Price Performance

The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $139.04 and its 200-day moving average price is $128.06. The stock has a market capitalization of $11.27 billion, a PE ratio of 12.35, a PEG ratio of 0.77 and a beta of 0.77.

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

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The company had revenue of $778.00 million for the quarter, compared to analysts’ expectations of $727.63 million. During the same period in the previous year, the firm posted $2.96 earnings per share. On average, equities analysts forecast that UMB Financial Corporation will post 13.37 EPS for the current fiscal year.

UMB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, September 10th. This is a boost from UMB Financial’s previous quarterly dividend of $0.43. UMB Financial’s payout ratio is currently 16.65%.

Insider Buying and Selling

In other news, Director Kevin Charles Gallagher sold 360 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $145.13, for a total value of $52,246.80. Following the completion of the sale, the director owned 11,863 shares in the company, valued at approximately $1,721,677.19. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President James D. Rine sold 8,246 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the transaction, the president owned 61,446 shares in the company, valued at $8,147,125.14. The trade was a 11.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,587 shares of company stock worth $1,427,251 over the last three months. 5.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC grew its stake in UMB Financial by 290.2% in the 1st quarter. Hsbc Holdings PLC now owns 13,355 shares of the bank’s stock worth $1,506,000 after acquiring an additional 9,932 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its stake in shares of UMB Financial by 40.8% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 38,261 shares of the bank’s stock valued at $4,402,000 after acquiring an additional 11,083 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of UMB Financial by 5,349.0% in the fourth quarter. Farther Finance Advisors LLC now owns 13,568 shares of the bank’s stock valued at $1,561,000 after purchasing an additional 13,319 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of UMB Financial by 1.5% in the fourth quarter. Clearbridge Investments LLC now owns 614,037 shares of the bank’s stock valued at $70,639,000 after purchasing an additional 9,147 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in 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 purchasing an additional 55,005 shares in the last quarter. 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.