UMB Financial (NASDAQ:UMBF) Hits New 52-Week High Following Earnings Beat

UMB Financial Co. (NASDAQ:UMBF)’s share price reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $113.56 and last traded at $113.14, with a volume of 212328 shares. The stock had previously closed at $106.66.

The bank reported $2.25 EPS for the quarter, topping the consensus estimate of $2.16 by $0.09. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. The company had revenue of $716.44 million during the quarter, compared to the consensus estimate of $398.83 million. During the same quarter last year, the firm posted $2.02 EPS.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.46%. This is a positive change from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s dividend payout ratio is currently 20.00%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays raised their target price on UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company boosted their price objective on UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday. Citigroup started coverage on UMB Financial in a research report on Thursday, October 10th. They set a “buy” rating and a $127.00 target price on the stock. Finally, Piper Sandler lifted their price target on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.00.

Insider Buying and Selling

In other UMB Financial news, CEO J Mariner Kemper sold 10,115 shares of UMB Financial stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $93.00, for a total transaction of $940,695.00. Following the transaction, the chief executive officer now directly owns 257,796 shares of the company’s stock, valued at $23,975,028. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP John Pauls sold 1,623 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $92.97, for a total transaction of $150,890.31. Following the completion of the sale, the executive vice president now directly owns 7,332 shares of the company’s stock, valued at approximately $681,656.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO J Mariner Kemper sold 10,115 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $93.00, for a total value of $940,695.00. Following the completion of the transaction, the chief executive officer now directly owns 257,796 shares in the company, valued at approximately $23,975,028. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,038 shares of company stock worth $4,078,068. 8.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UMB Financial

Several large investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its position in UMB Financial by 403.7% during the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock valued at $91,114,000 after buying an additional 694,751 shares during the period. Millennium Management LLC boosted its stake in UMB Financial by 567.1% in the second quarter. Millennium Management LLC now owns 733,734 shares of the bank’s stock valued at $61,208,000 after acquiring an additional 623,751 shares during the last quarter. Vanguard Group Inc. grew its position in shares of UMB Financial by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock valued at $409,321,000 after acquiring an additional 394,578 shares during the period. ProShare Advisors LLC increased its stake in shares of UMB Financial by 102.7% during the 2nd quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock worth $62,780,000 after purchasing an additional 381,278 shares during the last quarter. Finally, Emerald Advisers LLC bought a new stake in shares of UMB Financial in the 3rd quarter worth approximately $12,867,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Trading Down 1.3 %

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 firm has a 50 day moving average of $104.82 and a 200 day moving average of $92.80. The firm has a market cap of $5.35 billion, a PE ratio of 13.72 and a beta of 0.78.

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.