UMB Financial (NASDAQ:UMBF) Reaches New 52-Week High After Earnings Beat

UMB Financial Corporation (NASDAQ:UMBF)’s stock price hit a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $129.98 and last traded at $124.8690, with a volume of 400028 shares trading hands. The stock had previously closed at $124.86.

The bank reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.37. The firm had revenue of $469.80 million for the quarter, compared to the consensus estimate of $677.30 million. UMB Financial had a return on equity of 12.15% and a net margin of 16.01%.The firm’s revenue was up 66.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.49 EPS.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 10th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, March 10th. UMB Financial’s dividend payout ratio (DPR) is presently 19.48%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on UMBF. Hovde Group assumed coverage on shares of UMB Financial in a report on Monday, October 6th. They issued an “outperform” rating on the stock. Royal Bank Of Canada set a $134.00 target price on shares of UMB Financial and gave the stock an “outperform” rating in a report on Monday, January 12th. Barclays set a $155.00 target price on shares of UMB Financial and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Weiss Ratings lowered UMB Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, TD Cowen restated a “buy” rating on shares of UMB Financial in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $137.10.

Insiders Place Their Bets

In other UMB Financial news, CEO J Mariner Kemper sold 15,367 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $114.58, for a total transaction of $1,760,750.86. Following the transaction, the chief executive officer owned 1,521,414 shares in the company, valued at approximately $174,323,616.12. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Greg M. Graves acquired 264 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was acquired at an average price of $106.41 per share, with a total value of $28,092.24. Following the completion of the transaction, the director directly owned 38,411 shares of the company’s stock, valued at approximately $4,087,314.51. This represents a 0.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 17,127 shares of company stock worth $1,949,594. 5.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On UMB Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UMBF. Farther Finance Advisors LLC grew its position in shares of UMB Financial by 219.2% in the third quarter. Farther Finance Advisors LLC now owns 249 shares of the bank’s stock valued at $29,000 after purchasing an additional 171 shares during the period. EverSource Wealth Advisors LLC lifted its stake in UMB Financial by 193.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 405 shares of the bank’s stock valued at $43,000 after buying an additional 267 shares in the last quarter. Bessemer Group Inc. boosted its holdings in UMB Financial by 72.8% in the 3rd quarter. Bessemer Group Inc. now owns 420 shares of the bank’s stock worth $50,000 after buying an additional 177 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in UMB Financial by 88.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 425 shares of the bank’s stock worth $50,000 after buying an additional 199 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of UMB Financial by 168.6% during the third quarter. Smartleaf Asset Management LLC now owns 752 shares of the bank’s stock valued at $89,000 after acquiring an additional 472 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Stock Up 0.5%

The firm has a market cap of $9.53 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.99 and a beta of 0.78. The business has a fifty day simple moving average of $117.48 and a 200 day simple moving average of $115.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.75 and a quick ratio of 0.75.

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.