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

UMB Financial Co. (NASDAQ:UMBF) shares 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 traded. The stock had previously closed at $105.12.

Analyst Ratings Changes

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

UMB Financial Price Performance

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

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, July 30th. The bank reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.15. The company had revenue of $390.03 million for the quarter, compared to analyst estimates of $384.96 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $1.93 earnings per share. On average, research analysts expect that UMB Financial Co. will post 8.98 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

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

Insider Buying and Selling

In related news, Director Kris A. Robbins sold 5,000 shares of UMB Financial stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.50, for a total transaction of $512,500.00. Following the transaction, the director now directly owns 3,211 shares of the company’s stock, valued at $329,127.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Kris A. Robbins sold 5,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the transaction, the director now owns 3,211 shares in the company, valued at approximately $329,127.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Pauls sold 1,623 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $92.97, for a total value of $150,890.31. Following the completion of the transaction, the executive vice president now owns 7,332 shares of the company’s stock, valued at approximately $681,656.04. 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 over the last three months. Company insiders own 8.85% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

A number of institutional investors have recently bought and sold shares of the business. Truist Financial Corp boosted its position in UMB Financial by 3.3% during the 2nd quarter. Truist Financial Corp now owns 4,238 shares of the bank’s stock worth $354,000 after acquiring an additional 136 shares during the period. Systematic Financial Management LP acquired a new stake in UMB Financial during the 2nd quarter worth about $4,963,000. Creative Planning boosted its position in UMB Financial by 6.6% during the 2nd quarter. Creative Planning now owns 39,657 shares of the bank’s stock worth $3,308,000 after acquiring an additional 2,453 shares during the period. Algert Global LLC boosted its position in UMB Financial by 8.8% during the 2nd quarter. Algert Global LLC now owns 57,718 shares of the bank’s stock worth $4,815,000 after acquiring an additional 4,663 shares during the period. Finally, Mackenzie Financial Corp boosted its position in UMB Financial by 104.3% during the 2nd quarter. Mackenzie Financial Corp now owns 5,575 shares of the bank’s stock worth $465,000 after acquiring an additional 2,846 shares during the period. 87.78% of the stock is currently owned by institutional investors and hedge funds.

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.