UMB Financial (NASDAQ:UMBF) Posts Earnings Results, Beats Expectations By $0.34 EPS

UMB Financial (NASDAQ:UMBF) announced its earnings results on Tuesday. The bank reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.34, FiscalAI reports. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%. The company had revenue of $772.39 million during the quarter, compared to analyst estimates of $744.81 million.

UMB Financial Trading Down 0.3%

Shares of NASDAQ UMBF traded down $0.46 during midday trading on Tuesday, hitting $133.80. The stock had a trading volume of 911,506 shares, compared to its average volume of 875,909. The firm has a market cap of $10.16 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.63 and a beta of 0.82. UMB Financial has a fifty-two week low of $68.92 and a fifty-two week high of $144.36. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76. The company’s 50-day simple moving average is $137.21 and its 200 day simple moving average is $130.87.

Analysts Set New Price Targets

UMBF has been the topic of several research reports. Zacks Research downgraded shares of UMB Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. TD Cowen lowered their price objective on shares of UMB Financial from $166.00 to $152.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Stephens began coverage on shares of UMB Financial in a research note on Tuesday, July 14th. They issued an “overweight” rating and a $167.00 target price for the company. Barclays reiterated an “overweight” rating and set a $175.00 target price (up from $170.00) on shares of UMB Financial in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada reduced their target price on shares of UMB Financial from $170.00 to $168.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $162.86.

Insider Buying and Selling at UMB Financial

In related news, CEO J. Kemper sold 15,062 shares of UMB Financial stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $148.55, for a total value of $2,237,460.10. Following the completion of the sale, the chief executive officer directly owned 1,491,138 shares in the company, valued at $221,508,549.90. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nikki Farentino Newton sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total value of $297,200.00. Following the sale, the insider directly owned 11,981 shares of the company’s stock, valued at $1,780,376.60. This represents a 14.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 25,544 shares of company stock valued at $3,775,862 over the last ninety days. Company insiders own 5.33% of the company’s stock.

About UMB Financial

UMB Financial Corporation is a financial holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to individuals, businesses, institutions and government entities. The company serves customers through banking offices and digital channels across the Midwest and other U.S. markets.

UMB Bank offers commercial and personal banking products, including deposit accounts, loans, treasury management, payment services and credit solutions.