Insider Buying: UMB Financial (NASDAQ:UMBF) Director Buys 264 Shares of Stock

UMB Financial Corporation (NASDAQ:UMBF) Director Greg Graves bought 264 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were purchased at an average price of $106.41 per share, with a total value of $28,092.24. Following the completion of the acquisition, the director owned 38,411 shares of the company’s stock, valued at $4,087,314.51. This trade represents a 0.69% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

UMB Financial Trading Up 1.0%

Shares of UMB Financial stock traded up $1.08 during trading on Wednesday, reaching $107.36. 36,947 shares of the stock were exchanged, compared to its average volume of 615,696. The company has a quick ratio of 0.77, a current ratio of 0.75 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average is $117.32 and its 200 day moving average is $109.90. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.11 and a beta of 0.80. UMB Financial Corporation has a 1 year low of $82.00 and a 1 year high of $129.94.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, October 28th. The bank reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.22. The business had revenue of $678.34 million during the quarter, compared to the consensus estimate of $661.60 million. UMB Financial had a net margin of 16.01% and a return on equity of 12.15%. The business’s revenue for the quarter was up 67.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.25 earnings per share. As a group, equities research analysts expect that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Wednesday, December 10th will be paid a $0.43 dividend. This is a positive change from UMB Financial’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, December 10th. This represents a $1.72 annualized dividend and a dividend yield of 1.6%. UMB Financial’s dividend payout ratio (DPR) is currently 19.48%.

Institutional Investors Weigh In On UMB Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in UMB Financial by 121.9% during the 1st quarter. GAMMA Investing LLC now owns 921 shares of the bank’s stock worth $93,000 after acquiring an additional 506 shares in the last quarter. Teacher Retirement System of Texas raised its position in UMB Financial by 96.3% during the 1st quarter. Teacher Retirement System of Texas now owns 15,723 shares of the bank’s stock worth $1,590,000 after buying an additional 7,715 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of UMB Financial by 27.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 2,367 shares of the bank’s stock valued at $239,000 after purchasing an additional 509 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in UMB Financial by 21.1% during the 1st quarter. Bank of New York Mellon Corp now owns 546,483 shares of the bank’s stock valued at $55,249,000 after acquiring an additional 95,339 shares in the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new position in UMB Financial during the 1st quarter valued at about $631,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of UMB Financial from $122.00 to $128.00 and gave the company a “sector perform” rating in a research note on Friday, October 10th. Morgan Stanley upped their target price on shares of UMB Financial from $120.00 to $154.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Barclays set a $155.00 price target on shares of UMB Financial and gave the company an “overweight” rating in a report on Wednesday, October 8th. Cowen assumed coverage on shares of UMB Financial in a research note on Wednesday, September 24th. They issued a “buy” rating on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price target (down previously from $148.00) on shares of UMB Financial in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.20.

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.