UMB Financial (NASDAQ:UMBF) Reaches New 12-Month High Following Analyst Upgrade

UMB Financial Corporation (NASDAQ:UMBF) shares hit a new 52-week high on Tuesday after Wells Fargo & Company raised their price target on the stock from $130.00 to $139.00. Wells Fargo & Company currently has an equal weight rating on the stock. UMB Financial traded as high as $146.83 and last traded at $146.2440, with a volume of 471642 shares trading hands. The stock had previously closed at $144.41.

A number of other equities analysts have also issued reports on the company. Piper Sandler raised their target price on UMB Financial from $155.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Citigroup increased their price objective on UMB Financial from $138.00 to $144.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Hovde Group raised their price objective on UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada upped their target price on UMB Financial from $138.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Finally, Zacks Research downgraded shares of UMB Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.91.

Insider Activity

In related news, Director Kevin Charles Gallagher sold 381 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total transaction of $50,627.28. Following the sale, the director directly owned 12,223 shares of the company’s stock, valued at $1,624,192.24. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President James D. Rine sold 8,246 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total value of $1,093,337.14. Following the completion of the transaction, the president directly owned 61,446 shares of the company’s stock, valued at $8,147,125.14. The trade was a 11.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.33% of the stock is currently owned by company insiders.

Institutional Trading of UMB Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MBM Wealth Consultants LLC purchased a new position in UMB Financial during the first quarter worth approximately $26,000. Kemnay Advisory Services Inc. purchased a new stake in UMB Financial in the 4th quarter valued at $27,000. Axiom Investment Management LLC purchased a new stake in UMB Financial in the 1st quarter valued at $28,000. Hilton Head Capital Partners LLC acquired a new stake in shares of UMB Financial in the 4th quarter worth $34,000. Finally, Torren Management LLC purchased a new position in shares of UMB Financial during the 4th quarter worth $37,000. Institutional investors and hedge funds own 87.78% of the company’s stock.

UMB Financial Stock Performance

The firm has a fifty day moving average price of $132.64 and a 200 day moving average price of $124.50. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm has a market cap of $11.12 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 0.97 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.59. The firm had revenue of $739.16 million during the quarter, compared to analysts’ expectations of $701.79 million. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. UMB Financial’s revenue was up 31.1% compared to the same quarter last year. During the same period last year, the business earned $2.58 earnings per share. As a group, equities research analysts expect that UMB Financial Corporation will post 12.83 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, June 10th. UMB Financial’s dividend payout ratio is 15.26%.

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.