UMB Financial (NASDAQ:UMBF) Sets New 1-Year High on Insider Buying Activity

UMB Financial Co. (NASDAQ:UMBF) reached a new 52-week high on Wednesday after an insider bought additional shares in the company. The company traded as high as $123.07 and last traded at $122.67, with a volume of 2352 shares trading hands. The stock had previously closed at $111.04.

Specifically, Director Greg M. Graves bought 258 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average price of $109.29 per share, for a total transaction of $28,196.82. Following the completion of the transaction, the director now owns 36,244 shares of the company’s stock, valued at approximately $3,961,106.76. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

UMBF has been the topic of a number of research reports. Citigroup began coverage on shares of UMB Financial in a research report on Thursday, October 10th. They set a “buy” rating and a $127.00 target price on the stock. Barclays upped their price target on UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Piper Sandler lifted their price objective 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. Finally, Wells Fargo & Company boosted their price objective on shares of UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.00.

UMB Financial Stock Performance

The stock’s 50 day moving average price is $106.25 and its two-hundred day moving average price is $94.13. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 15.21 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.05. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. The company had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. During the same period in the prior year, the business posted $2.02 earnings per share. On average, analysts forecast that UMB Financial Co. will post 9.33 EPS for the current year.

UMB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 1.31%. UMB Financial’s payout ratio is currently 19.50%.

Institutional Trading of UMB Financial

A number of institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in shares of UMB Financial in the third quarter valued at $26,000. Covestor Ltd grew its position in shares of UMB Financial by 31.0% in the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after purchasing an additional 102 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of UMB Financial during the 2nd quarter worth approximately $128,000. CWM LLC raised its position in shares of UMB Financial by 7.1% during the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after purchasing an additional 129 shares during the last quarter. Finally, Heritage Family Offices LLP purchased a new stake in UMB Financial in the 3rd quarter valued at approximately $203,000. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

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.