UMB Financial Co. Plans Quarterly Dividend of $0.40 (NASDAQ:UMBF)

UMB Financial Co. (NASDAQ:UMBF) declared a quarterly dividend on Tuesday, April 29th, Wall Street Journal reports. Stockholders of record on Tuesday, June 10th will be given a dividend of 0.40 per share by the bank on Tuesday, July 1st. This represents a $1.60 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Tuesday, June 10th.

UMB Financial has a dividend payout ratio of 14.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect UMB Financial to earn $11.06 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 14.5%.

UMB Financial Stock Performance

NASDAQ UMBF opened at $104.79 on Friday. The firm has a market capitalization of $7.96 billion, a P/E ratio of 11.66 and a beta of 0.75. UMB Financial has a 1-year low of $78.91 and a 1-year high of $129.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. The business’s 50-day simple moving average is $98.21 and its 200-day simple moving average is $108.27.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.37. The business had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. The company’s revenue was up 41.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.47 EPS. Equities analysts predict that UMB Financial will post 9.66 EPS for the current year.

Analyst Upgrades and Downgrades

UMBF has been the topic of several research analyst reports. Bank of America initiated coverage on UMB Financial in a research note on Wednesday, April 16th. They issued a “buy” rating and a $105.00 price objective on the stock. Wall Street Zen lowered UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Morgan Stanley reduced their price target on UMB Financial from $156.00 to $146.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada reduced their price target on UMB Financial from $128.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 1st. Finally, Piper Sandler reissued an “overweight” rating and set a $137.00 price target (up from $132.00) on shares of UMB Financial in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.13.

Insider Buying and Selling

In related news, CEO J Mariner Kemper sold 5,412 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total transaction of $550,995.72. Following the transaction, the chief executive officer now directly owns 288,945 shares of the company’s stock, valued at approximately $29,417,490.45. The trade was a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On UMB Financial

Institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC raised its position in shares of UMB Financial by 47.0% in the 1st quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank’s stock valued at $570,000 after purchasing an additional 1,803 shares in the last quarter. Royal Bank of Canada raised its position in shares of UMB Financial by 28.2% in the 1st quarter. Royal Bank of Canada now owns 42,829 shares of the bank’s stock valued at $4,329,000 after purchasing an additional 9,417 shares in the last quarter. Jane Street Group LLC raised its position in shares of UMB Financial by 161.7% in the 1st quarter. Jane Street Group LLC now owns 49,877 shares of the bank’s stock valued at $5,043,000 after purchasing an additional 30,820 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of UMB Financial by 65.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 207,881 shares of the bank’s stock valued at $21,017,000 after purchasing an additional 82,083 shares in the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

About UMB Financial

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.