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

UMB Financial Co. (NASDAQ:UMBF) reached 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 trading hands. The stock had previously closed at $105.12.

Analyst Ratings Changes

UMBF has been the topic of several research reports. Piper Sandler boosted 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. Keefe, Bruyette & Woods raised shares of UMB Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $93.00 to $98.00 in a research report on Friday, May 31st. Wells Fargo & Company boosted their price target on shares of UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, Barclays boosted their price target on shares of UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.33.

UMB Financial Stock Up 0.6 %

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.12. The firm has a market cap of $5.16 billion, a P/E ratio of 13.96 and a beta of 0.78. The stock’s fifty day moving average is $97.05 and its two-hundred day moving average is $87.32.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, July 30th. The bank reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.15. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. The business had revenue of $390.03 million during the quarter, compared to analysts’ expectations of $384.96 million. During the same quarter in the previous year, the company earned $1.93 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts anticipate that UMB Financial Co. will post 8.98 earnings per share for the current year.

UMB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.56 dividend on an annualized basis and a yield of 1.47%. UMB Financial’s dividend payout ratio is presently 20.72%.

Insiders Place Their Bets

In other UMB Financial news, Director Kris A. Robbins sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were 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 of the company’s stock, valued at approximately $329,127.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Kris A. Robbins sold 5,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the sale, the director now owns 3,211 shares of the company’s stock, valued at approximately $329,127.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tamara Peterman acquired 396 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $99.56 per share, with a total value of $39,425.76. Following the purchase, the director now directly owns 7,407 shares in the company, valued at approximately $737,440.92. The disclosure for this purchase can be found here. Insiders sold a total of 34,846 shares of company stock valued at $3,135,439 in the last quarter. Corporate insiders own 8.85% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in 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 buying an additional 394,578 shares during the period. Allspring Global Investments Holdings LLC boosted its position in UMB Financial by 2.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,954,762 shares of the bank’s stock valued at $163,066,000 after buying an additional 49,690 shares during the period. American Century Companies Inc. boosted its position in UMB Financial by 6.8% during the 2nd quarter. American Century Companies Inc. now owns 1,752,524 shares of the bank’s stock valued at $146,196,000 after buying an additional 111,090 shares during the period. Dimensional Fund Advisors LP boosted its position in UMB Financial by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,689,895 shares of the bank’s stock valued at $140,968,000 after buying an additional 100,000 shares during the period. Finally, ProShare Advisors LLC boosted its position in UMB Financial by 102.7% during the 2nd quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock valued at $62,780,000 after buying an additional 381,278 shares during the period. Hedge funds and other institutional investors own 87.78% of the company’s stock.

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.