UMB Financial (NASDAQ:UMBF) Hits New 52-Week High at $105.78

UMB Financial Co. (NASDAQ:UMBF)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $105.78 and last traded at $105.78, with a volume of 66949 shares changing hands. The stock had previously closed at $105.12.

Analysts Set New Price Targets

UMBF has been the topic of a number of recent analyst reports. Barclays raised their price objective on UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler lifted their price target on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their price target on UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods raised UMB Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $93.00 to $98.00 in a research report on Friday, May 31st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.33.

UMB Financial Trading Up 0.7 %

The firm has a market capitalization of $5.15 billion, a P/E ratio of 14.03 and a beta of 0.78. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $98.34 and a 200-day moving average price of $87.79.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, July 30th. The bank reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.15. The business had revenue of $390.03 million for the quarter, compared to analysts’ expectations of $384.96 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. UMB Financial’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 earnings per share. Analysts anticipate that UMB Financial Co. will post 8.98 earnings per share for the current year.

UMB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, September 10th. UMB Financial’s dividend payout ratio is 20.72%.

Insider Activity at UMB Financial

In other UMB Financial news, EVP Amy Harris sold 736 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $95.05, for a total value of $69,956.80. Following the transaction, the executive vice president now owns 2,899 shares of the company’s stock, valued at $275,549.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other UMB Financial news, EVP Amy Harris sold 736 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $95.05, for a total value of $69,956.80. Following the transaction, the executive vice president now owns 2,899 shares of the company’s stock, valued at $275,549.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO J Mariner Kemper sold 8,450 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $83.33, for a total value of $704,138.50. Following the sale, the chief executive officer now owns 1,681,904 shares of the company’s stock, valued at approximately $140,153,060.32. The disclosure for this sale can be found here. Insiders have sold a total of 34,846 shares of company stock valued at $3,135,439 in the last 90 days. 8.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UMB Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. bought a new stake in UMB Financial in the fourth quarter valued at about $28,000. 1620 Investment Advisors Inc. bought a new stake in UMB Financial in the second quarter valued at about $128,000. CWM LLC increased its holdings in UMB Financial by 7.1% in the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock valued at $162,000 after purchasing an additional 129 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in UMB Financial in the first quarter valued at about $252,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in UMB Financial in the fourth quarter valued at about $283,000. Institutional investors own 87.78% of the company’s stock.

About UMB Financial

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.