UMB Financial (NASDAQ:UMBF) Issues Quarterly Earnings Results, Beats Estimates By $0.39 EPS

UMB Financial (NASDAQ:UMBF) announced its quarterly earnings results on Tuesday. The bank reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.39, FiscalAI reports. The firm had revenue of $469.80 million during the quarter, compared to analysts’ expectations of $677.30 million. UMB Financial had a net margin of 16.01% and a return on equity of 12.15%.

UMB Financial Trading Up 1.9%

Shares of NASDAQ UMBF traded up $2.38 during mid-day trading on Tuesday, hitting $124.88. The company’s stock had a trading volume of 728,784 shares, compared to its average volume of 448,497. UMB Financial has a one year low of $82.00 and a one year high of $129.18. The company’s fifty day simple moving average is $117.07 and its 200-day simple moving average is $115.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market cap of $9.49 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on UMBF. Barclays set a $155.00 target price on shares of UMB Financial and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Royal Bank Of Canada set a $134.00 price objective on shares of UMB Financial and gave the stock an “outperform” rating in a report on Monday, January 12th. Hovde Group assumed coverage on shares of UMB Financial in a research note on Monday, October 6th. They issued an “outperform” rating for the company. TD Cowen restated a “buy” rating on shares of UMB Financial in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company raised their price target on UMB Financial from $125.00 to $130.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $137.10.

Insider Buying and Selling at UMB Financial

In related news, Director Greg M. Graves acquired 264 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $106.41 per share, with a total value of $28,092.24. Following the completion of the purchase, the director directly owned 38,411 shares in the company, valued at approximately $4,087,314.51. This trade represents a 0.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J Mariner Kemper sold 15,367 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $114.58, for a total value of $1,760,750.86. Following the completion of the sale, the chief executive officer owned 1,521,414 shares of the company’s stock, valued at $174,323,616.12. This represents a 1.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 17,127 shares of company stock valued at $1,949,594 in the last three months. Insiders own 5.45% of the company’s stock.

Hedge Funds Weigh In On UMB Financial

Several institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in shares of UMB Financial by 28.2% in the first quarter. Royal Bank of Canada now owns 42,829 shares of the bank’s stock worth $4,329,000 after purchasing an additional 9,417 shares in the last quarter. NewEdge Advisors LLC lifted its position in UMB Financial by 47.0% during the 1st quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank’s stock worth $570,000 after buying an additional 1,803 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in UMB Financial by 65.2% during 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 worth $21,017,000 after buying an additional 82,083 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of UMB Financial by 161.7% during the 1st quarter. Jane Street Group LLC now owns 49,877 shares of the bank’s stock worth $5,043,000 after buying an additional 30,820 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of UMB Financial by 6.8% in the 2nd quarter. Cetera Investment Advisers now owns 4,232 shares of the bank’s stock valued at $445,000 after acquiring an additional 269 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

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.