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

Shares of UMB Financial Corporation (NASDAQ:UMBF) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $144.36 and last traded at $143.4630, with a volume of 400241 shares. The stock had previously closed at $143.76.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on UMBF shares. Raymond James Financial started coverage on shares of UMB Financial in a report on Thursday, August 27th. They issued an “outperform” rating and a $165.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating on shares of UMB Financial in a research report on Tuesday. Piper Sandler restated an “overweight” rating and set a $181.00 price objective (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. JPMorgan Chase & Co. initiated coverage on UMB Financial in a research report on Thursday, August 20th. They set an “overweight” rating and a $180.00 price target on the stock. Finally, Truist Financial set a $170.00 target price on UMB Financial and gave the company a “buy” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $166.54.

UMB Financial Price Performance

The company’s 50-day simple moving average is $144.95 and its 200 day simple moving average is $131.34. The company has a market capitalization of $10.90 billion, a P/E ratio of 11.93, a P/E/G ratio of 0.70 and a beta of 0.77. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06.

UMB Financial (NASDAQ:UMBF) last posted its earnings results 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 firm had revenue of $778.00 million during the quarter, compared to analyst estimates of $727.63 million. During the same period in the previous year, the company earned $2.96 EPS. As a group, sell-side analysts expect that UMB Financial Corporation will post 13.5 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be issued a $0.50 dividend. This is an increase from UMB Financial’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. UMB Financial’s payout ratio is 14.32%.

Insider Transactions at UMB Financial

In other news, insider Phillip Mason sold 800 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $147.00, for a total value of $117,600.00. Following the completion of the transaction, the insider owned 8,894 shares in the company, valued at approximately $1,307,418. This represents a 8.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO J. Kemper sold 15,062 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $148.55, for a total transaction of $2,237,460.10. Following the completion of the transaction, the chief executive officer directly owned 1,491,138 shares of the company’s stock, valued at $221,508,549.90. This trade represents a 1.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 25,925 shares of company stock valued at $3,826,489 over the last 90 days. Corporate 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 stock. Mercer Global Advisors Inc. ADV raised its stake in UMB Financial by 4.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,563 shares of the bank’s stock worth $295,000 after buying an additional 102 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in UMB Financial by 3.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,910 shares of the bank’s stock valued at $335,000 after buying an additional 108 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of UMB Financial by 4.7% in the second quarter. Greenleaf Trust now owns 2,506 shares of the bank’s stock valued at $358,000 after buying an additional 113 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of UMB Financial by 1.7% during the first quarter. First Citizens Bank & Trust Co. now owns 7,272 shares of the bank’s stock worth $820,000 after acquiring an additional 125 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in UMB Financial by 3.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,908 shares of the bank’s stock valued at $450,000 after acquiring an additional 129 shares in the last quarter. Institutional investors own 87.78% of the company’s stock.

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.