UMB Financial (NASDAQ:UMBF) Shares Gap Up Following Dividend Announcement

UMB Financial Co. (NASDAQ:UMBF) shares gapped up before the market opened on Tuesday after the company announced a dividend. The stock had previously closed at $77.75, but opened at $80.00. UMB Financial shares last traded at $80.55, with a volume of 242,892 shares changing hands.

The newly announced dividend which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be issued a $0.39 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.56 annualized dividend and a yield of 1.95%. UMB Financial’s dividend payout ratio is currently 20.72%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on UMBF shares. StockNews.com upgraded UMB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, March 16th. Keefe, Bruyette & Woods upped their price objective on UMB Financial from $86.00 to $93.00 and gave the company a “market perform” rating in a report on Tuesday. Barclays raised UMB Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $91.00 to $95.00 in a report on Tuesday. Raymond James upped their price target on shares of UMB Financial from $80.00 to $102.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 1st. Finally, Wells Fargo & Company lifted their price objective on shares of UMB Financial from $88.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, UMB Financial presently has a consensus rating of “Moderate Buy” and an average target price of $92.00.

UMB Financial Stock Performance

The stock has a 50 day moving average of $81.80 and a 200 day moving average of $77.97. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.12. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 10.60 and a beta of 0.83.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Wednesday, January 31st. The bank reported $2.29 EPS for the quarter, beating the consensus estimate of $1.76 by $0.53. The company had revenue of $370.80 million during the quarter, compared to analysts’ expectations of $360.69 million. UMB Financial had a net margin of 14.59% and a return on equity of 14.59%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.06 EPS. As a group, analysts anticipate that UMB Financial Co. will post 7.41 EPS for the current fiscal year.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 3,500 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $83.10, for a total value of $290,850.00. Following the sale, the chief executive officer now owns 252,114 shares of the company’s stock, valued at approximately $20,950,673.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO J Mariner Kemper sold 3,500 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $83.10, for a total value of $290,850.00. Following the completion of the transaction, the chief executive officer now owns 252,114 shares of the company’s stock, valued at $20,950,673.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Pauls sold 1,440 shares of UMB Financial stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $79.51, for a total transaction of $114,494.40. Following the sale, the executive vice president now directly owns 8,496 shares in the company, valued at $675,516.96. The disclosure for this sale can be found here. Insiders sold a total of 27,277 shares of company stock worth $2,264,661 over the last three months. Corporate insiders own 8.85% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

Hedge funds have recently modified their holdings of the company. Assetmark Inc. bought a new position in UMB Financial in the fourth quarter valued at about $28,000. Headlands Technologies LLC acquired a new position in shares of UMB Financial in the third quarter worth approximately $74,000. Quantbot Technologies LP bought a new stake in UMB Financial in the third quarter valued at approximately $179,000. Jones Financial Companies Lllp acquired a new stake in UMB Financial during the 3rd quarter valued at approximately $199,000. Finally, Atria Wealth Solutions Inc. bought a new position in UMB Financial during the 3rd quarter worth approximately $215,000. Institutional investors and hedge funds own 87.78% of the company’s stock.

UMB Financial Company Profile

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.