UMB Financial (NASDAQ:UMBF) Sees Unusually-High Trading Volume Following Better-Than-Expected Earnings

UMB Financial Co. (NASDAQ:UMBF) shares saw strong trading volume on Wednesday following a stronger than expected earnings report. 743,781 shares traded 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, topping analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same period last year, the firm earned $2.29 earnings per share.

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Monday, March 10th. UMB Financial’s dividend payout ratio is currently 20.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com upgraded UMB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday. Barclays increased their price objective on UMB Financial from $123.00 to $139.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Citigroup initiated coverage on shares of UMB Financial in a report on Thursday, October 10th. They issued a “buy” rating and a $127.00 price target for the company. Wells Fargo & Company boosted their target price on shares of UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada initiated coverage on UMB Financial in a research note on Friday, November 22nd. They set a “sector perform” rating and a $130.00 price target on the stock. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.00.

Insider Buying and Selling

In related news, CEO J Mariner Kemper sold 24,300 shares of the business’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 directly owns 1,552,304 shares in the company, valued at approximately $193,960,384.80. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Greg M. Graves bought 258 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $109.29 per share, for a total transaction of $28,196.82. Following the completion of the purchase, the director now directly owns 36,244 shares in the company, valued at approximately $3,961,106.76. This represents a 0.72 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 50,303 shares of company stock worth $5,879,967 in the last 90 days. Insiders own 8.85% of the company’s stock.

Institutional Trading of UMB Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in UMBF. V Square Quantitative Management LLC acquired a new position in UMB Financial in the third quarter valued at about $26,000. Covestor Ltd raised its stake in shares of UMB Financial by 31.0% in the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after acquiring an additional 102 shares during the period. USA Financial Formulas lifted its holdings in shares of UMB Financial by 124.7% in the 4th quarter. USA Financial Formulas now owns 483 shares of the bank’s stock worth $55,000 after acquiring an additional 268 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of UMB Financial during the 3rd quarter worth approximately $83,000. Finally, R Squared Ltd acquired a new stake in UMB Financial in the 4th quarter valued at approximately $117,000. Institutional investors and hedge funds own 87.78% of the company’s stock.

UMB Financial Trading Up 0.8 %

The business has a 50-day simple moving average of $119.06 and a 200-day simple moving average of $109.49. The company has a market cap of $5.98 billion, a PE ratio of 15.32 and a beta of 0.82. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11.

UMB Financial Company Profile

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.