UMB Financial (NASDAQ:UMBF) Issues Earnings Results, Beats Estimates By $0.45 EPS

UMB Financial (NASDAQ:UMBF) released its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.12 by $0.45, FiscalAI reports. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The firm had revenue of $778.00 million for the quarter, compared to the consensus estimate of $727.63 million. During the same quarter last year, the business posted $2.96 EPS.

UMB Financial Price Performance

UMBF stock traded down $0.85 during midday trading on Friday, hitting $145.01. 100,099 shares of the stock were exchanged, compared to its average volume of 624,063. The stock’s 50-day moving average price is $143.63 and its 200-day moving average price is $130.28. The stock has a market cap of $11.01 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.72 and a beta of 0.77. UMB Financial has a fifty-two week low of $103.38 and a fifty-two week high of $153.32. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76.

UMB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. This is an increase from UMB Financial’s previous quarterly dividend of $0.43. UMB Financial’s payout ratio is 14.32%.

Analysts Set New Price Targets

UMBF has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on UMB Financial in a research note on Thursday. They issued an “overweight” rating and a $180.00 target price on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $170.00 target price (up from $168.00) on shares of UMB Financial in a research note on Thursday, July 30th. Piper Sandler reiterated an “overweight” rating and issued a $181.00 target price (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of UMB Financial in a research note on Friday, July 24th. Finally, Zacks Research downgraded UMB Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $165.00.

Insider Activity

In related news, Director Susan G. Murphy sold 1,377 shares of UMB Financial stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $145.55, for a total transaction of $200,422.35. Following the completion of the transaction, the director directly owned 10,635 shares of the company’s stock, valued at approximately $1,547,924.25. The trade was a 11.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nikki Farentino Newton sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total value of $297,200.00. Following the completion of the transaction, the insider directly owned 11,981 shares of the company’s stock, valued at approximately $1,780,376.60. This trade represents a 14.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 34,171 shares of company stock valued at $4,919,826 in the last 90 days. Insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On UMB Financial

Institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its holdings in shares of UMB Financial by 18.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 888 shares of the bank’s stock worth $104,000 after acquiring an additional 136 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of UMB Financial in the fourth quarter worth $75,000. Los Angeles Capital Management LLC acquired a new position in shares of UMB Financial in the fourth quarter worth $150,000. Danske Bank A S acquired a new position in shares of UMB Financial in the third quarter worth $96,000. Finally, Abel Hall LLC acquired a new position in shares of UMB Financial in the third quarter worth $202,000. 87.78% of the stock is owned by institutional investors and hedge funds.

UMB Financial Company Profile

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.