UMB Financial (NASDAQ:UMBF) Sees Strong Trading Volume After Earnings Beat

UMB Financial Co. (NASDAQ:UMBFGet Free Report) shares saw unusually-high trading volume on Wednesday following a better than expected earnings announcement. Approximately 743,781 shares changed hands during trading, an increase of 40% from the previous session’s volume of 532,430 shares.The stock last traded at $122.63 and had previously closed at $121.62.

The bank reported $2.49 EPS for the quarter, beating the consensus estimate of $2.25 by $0.24. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same period in the previous year, the business posted $2.29 earnings per share.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.33%. UMB Financial’s dividend payout ratio (DPR) is 20.00%.

Wall Street Analysts Forecast Growth

UMBF has been the topic of several recent research reports. Wells Fargo & Company raised their target price on UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Citigroup initiated coverage on UMB Financial in a report on Thursday, October 10th. They set a “buy” rating and a $127.00 price target on the stock. Piper Sandler boosted their price objective on shares of UMB Financial from $142.00 to $143.00 and gave the stock an “overweight” rating in a research note on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $128.00 target price on shares of UMB Financial in a research note on Thursday. Finally, Barclays lifted their target price on shares of UMB Financial from $123.00 to $139.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.63.

Get Our Latest Research Report on UMBF

Insider Buying and Selling at UMB Financial

In related news, CEO J Mariner Kemper sold 24,300 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $124.95, for a total transaction of $3,036,285.00. Following the transaction, the chief executive officer now owns 1,552,304 shares in the company, valued at $193,960,384.80. This represents a 1.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Brian Beaird sold 854 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total value of $105,366.52. Following the transaction, the insider now directly owns 5,828 shares in the company, valued at approximately $719,058.64. This represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.85% of the company’s stock.

Institutional Trading of UMB Financial

Institutional investors have recently bought and sold shares of the business. Cerity Partners LLC boosted its position in shares of UMB Financial by 767.4% during the third quarter. Cerity Partners LLC now owns 21,269 shares of the bank’s stock worth $2,236,000 after purchasing an additional 18,817 shares in the last quarter. Principal Financial Group Inc. increased its stake in UMB Financial by 403.7% in the 3rd 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 last quarter. King Luther Capital Management Corp boosted its stake in shares of UMB Financial by 229.6% during the 3rd quarter. King Luther Capital Management Corp now owns 47,116 shares of the bank’s stock worth $4,952,000 after buying an additional 32,820 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of UMB Financial by 51.2% in the 3rd quarter. Natixis Advisors LLC now owns 28,935 shares of the bank’s stock valued at $3,041,000 after acquiring an additional 9,803 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of UMB Financial by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,114,251 shares of the bank’s stock valued at $117,139,000 after acquiring an additional 21,091 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

UMB Financial Stock Down 1.8 %

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a 50-day moving average of $119.10 and a 200 day moving average of $109.58. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 15.04 and a beta of 0.82.

About UMB Financial

(Get Free Report)

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.

See Also

Receive News & Ratings for UMB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UMB Financial and related companies with MarketBeat.com's FREE daily email newsletter.