UMB Financial (NASDAQ:UMBF) Reaches New 1-Year High – Here’s What Happened

UMB Financial Corporation (NASDAQ:UMBF) reached a new 52-week high on Thursday . The stock traded as high as $150.85 and last traded at $150.5260, with a volume of 30552 shares trading hands. The stock had previously closed at $149.45.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. TD Cowen restated a “buy” rating and set a $166.00 price target (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Barclays reiterated an “overweight” rating and issued a $175.00 price objective (up from $170.00) on shares of UMB Financial in a research report on Monday, August 3rd. Citigroup reissued a “neutral” rating and set a $162.00 price objective (up from $144.00) on shares of UMB Financial in a report on Friday, July 31st. Piper Sandler restated an “overweight” rating and set a $181.00 price objective (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. Finally, Hovde Group upped their target price on UMB Financial from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, UMB Financial has an average rating of “Moderate Buy” and an average target price of $163.75.

UMB Financial Price Performance

The company’s 50 day moving average price is $141.38 and its 200 day moving average price is $129.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 0.72 and a beta of 0.77.

Shares of UMB Financial are set to split on the morning of Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly minted shares will be issued to shareholders after the closing bell on Monday, August 31st.

UMB Financial (NASDAQ:UMBF) last announced its 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. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. The business had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $727.63 million. During the same quarter last year, the company posted $2.96 EPS. On average, equities research analysts predict that UMB Financial Corporation will post 13.48 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. UMB Financial’s dividend payout ratio (DPR) is 16.65%.

Insider Activity at UMB Financial

In other news, CEO J Mariner Kemper sold 15,062 shares of UMB Financial stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $148.55, for a total value of $2,237,460.10. Following the completion of the transaction, the chief executive officer owned 1,491,138 shares in the company, valued at approximately $221,508,549.90. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nikki Farentino Newton sold 2,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,780,376.60. The trade was a 14.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 34,171 shares of company stock valued at $4,919,826. Insiders own 5.33% of the company’s stock.

Institutional Trading of UMB Financial

Several large investors have recently made changes to their positions in UMBF. Mercer Global Advisors Inc. ADV increased its holdings in shares of UMB Financial by 4.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,563 shares of the bank’s stock valued at $295,000 after purchasing an additional 102 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of UMB Financial by 3.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,910 shares of the bank’s stock valued at $335,000 after purchasing an additional 108 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of UMB Financial by 1.8% during the 4th quarter. Concurrent Investment Advisors LLC now owns 6,424 shares of the bank’s stock worth $739,000 after buying an additional 112 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of UMB Financial by 1.7% during the 1st quarter. First Citizens Bank & Trust Co. now owns 7,272 shares of the bank’s stock worth $820,000 after buying an additional 125 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of UMB Financial by 3.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,908 shares of the bank’s stock worth $450,000 after buying an additional 129 shares during the period. Institutional investors own 87.78% of the company’s stock.

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.