UMB Financial (NASDAQ:UMBF) Reaches New 52-Week High – Should You Buy?

UMB Financial Corporation (NASDAQ:UMBF)’s share price hit 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 traded. The stock had previously closed at $149.45.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on UMBF. Citigroup reiterated a “neutral” rating and set a $162.00 price target (up from $144.00) on shares of UMB Financial in a research note on Friday, July 31st. Wells Fargo & Company set a $160.00 target price on shares of UMB Financial and gave the company an “equal weight” rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods lifted their target price on shares of UMB Financial from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Piper Sandler restated an “overweight” rating and set a $181.00 target price (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. initiated coverage on shares of UMB Financial in a research note on Thursday. They set an “overweight” rating and a $180.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, UMB Financial presently has an average rating of “Moderate Buy” and an average target price of $165.00.

UMB Financial Stock Performance

The firm has a market cap of $11.01 billion, a PE ratio of 12.07, a PEG ratio of 0.72 and a beta of 0.77. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm’s 50 day simple moving average is $143.63 and its 200 day simple moving average is $130.28.

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, beating the consensus estimate of $3.12 by $0.45. The firm had revenue of $778.00 million for the quarter, compared to analysts’ expectations of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same period in the prior year, the company earned $2.96 EPS. On average, research analysts forecast that UMB Financial Corporation will post 13.48 EPS for the current fiscal year.

UMB Financial Increases Dividend

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

Insider Activity

In related news, insider Nikki Farentino Newton sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $148.60, for a total transaction of $297,200.00. Following the transaction, the insider directly owned 11,981 shares in the company, valued at approximately $1,780,376.60. This represents a 14.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin Charles Gallagher sold 360 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $145.13, for a total transaction of $52,246.80. Following the transaction, the director owned 11,863 shares in the company, valued at $1,721,677.19. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 34,171 shares of company stock worth $4,919,826. 5.33% of the stock is owned by insiders.

Hedge Funds Weigh In On UMB Financial

Hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its holdings in UMB Financial by 290.2% during the 1st quarter. Hsbc Holdings PLC now owns 13,355 shares of the bank’s stock valued at $1,506,000 after purchasing an additional 9,932 shares during the last quarter. B. Metzler seel. Sohn & Co. AG grew its holdings in UMB Financial by 40.8% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 38,261 shares of the bank’s stock valued at $4,402,000 after purchasing an additional 11,083 shares during the last quarter. Clearbridge Investments LLC grew its holdings in UMB Financial by 1.5% during the 4th quarter. Clearbridge Investments LLC now owns 614,037 shares of the bank’s stock valued at $70,639,000 after purchasing an additional 9,147 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in UMB Financial by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank’s stock worth $328,200,000 after acquiring an additional 55,005 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in UMB Financial by 62.7% in the 1st quarter. SG Americas Securities LLC now owns 20,784 shares of the bank’s stock worth $2,344,000 after acquiring an additional 8,013 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors.

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.