UMB Financial (NASDAQ:UMBF) Announces Quarterly Earnings Results

UMB Financial (NASDAQ:UMBF) announced its earnings results on Tuesday. The bank reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.07 by $0.50, FiscalAI reports. The business had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $727.63 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.

UMB Financial Trading Up 2.1%

Shares of UMBF stock traded up $3.01 during trading on Tuesday, hitting $143.98. 831,412 shares of the stock traded hands, compared to its average volume of 634,931. The firm has a market capitalization of $10.94 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 0.78 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The firm’s fifty day moving average price is $137.42 and its 200-day moving average price is $127.16. UMB Financial has a 52-week low of $103.38 and a 52-week high of $148.31.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Citigroup increased their price objective on UMB Financial from $138.00 to $144.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. Piper Sandler upped their price objective on shares of UMB Financial from $155.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Hovde Group raised their target price on shares of UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Weiss Ratings restated a “buy (b)” rating on shares of UMB Financial in a report on Friday. Finally, TD Cowen upped their price target on UMB Financial from $141.00 to $147.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, UMB Financial currently has an average rating of “Moderate Buy” and an average price target of $152.17.

Insider Buying and Selling at UMB Financial

In related news, Director Kevin Charles Gallagher sold 381 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $132.88, for a total value of $50,627.28. Following the sale, the director directly owned 12,223 shares in the company, valued at approximately $1,624,192.24. The trade was a 3.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President James D. Rine sold 8,246 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the completion of the transaction, the president directly owned 61,446 shares in the company, valued at $8,147,125.14. The trade was a 11.83% decrease in their position. The SEC filing for this sale provides additional information. 5.33% of the stock is owned by company insiders.

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. NewEdge Advisors LLC increased its holdings in UMB Financial by 79.1% in the 3rd quarter. NewEdge Advisors LLC now owns 9,789 shares of the bank’s stock valued at $1,158,000 after purchasing an additional 4,322 shares during the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of UMB Financial by 2.4% during the fourth quarter. First Citizens Bank & Trust Co. now owns 7,147 shares of the bank’s stock worth $822,000 after buying an additional 167 shares during the period. Man Group plc purchased a new position in shares of UMB Financial during the fourth quarter worth $664,000. Mackenzie Financial Corp acquired a new stake in shares of UMB Financial in the fourth quarter valued at $531,000. Finally, Abel Hall LLC raised its holdings in shares of UMB Financial by 155.1% in the 4th quarter. Abel Hall LLC now owns 4,364 shares of the bank’s stock valued at $502,000 after buying an additional 2,653 shares during the period. 87.78% of the stock is owned by hedge funds and other institutional investors.

About UMB Financial

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.