UMB Financial (NASDAQ:UMBF) Sets New 1-Year High – Here’s What Happened

UMB Financial Corporation (NASDAQ:UMBF)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $147.36 and last traded at $147.3980, with a volume of 13014 shares. The stock had previously closed at $145.31.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on UMBF shares. Hovde Group upped their target price on UMB Financial from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. TD Cowen lifted their price objective on shares of UMB Financial from $141.00 to $147.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Zacks Research downgraded shares of UMB Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Piper Sandler increased their price objective on shares of UMB Financial from $155.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Finally, Truist Financial raised their target price on shares of UMB Financial from $140.00 to $161.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $152.17.

UMB Financial Trading Down 1.4%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 0.82 and a beta of 0.77. The company has a 50 day moving average price of $135.70 and a two-hundred day moving average price of $126.06.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.59. The firm had revenue of $739.16 million for 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%. The firm’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 EPS. On average, research analysts forecast that UMB Financial Corporation will post 12.85 EPS for the current year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, June 10th. UMB Financial’s dividend payout ratio (DPR) is presently 15.26%.

Insider Activity

In related news, President James D. Rine sold 8,246 shares of the firm’s stock in a transaction dated 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 transaction, the president directly owned 61,446 shares of the company’s stock, valued at approximately $8,147,125.14. This trade represents a 11.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kevin Charles Gallagher sold 381 shares of UMB Financial stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total value of $50,627.28. Following the completion of the sale, the director owned 12,223 shares in the company, valued at approximately $1,624,192.24. The trade was a 3.02% 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 owned by company insiders.

Hedge Funds Weigh In On UMB Financial

Several hedge funds and other institutional investors have recently made changes to their positions in UMBF. Handelsbanken Fonder AB boosted its stake in shares of UMB Financial by 217.0% in the second quarter. Handelsbanken Fonder AB now owns 176,840 shares of the bank’s stock worth $25,246,000 after acquiring an additional 121,050 shares during the last quarter. Friday Financial raised its stake in UMB Financial by 5.9% in the 2nd quarter. Friday Financial now owns 27,445 shares of the bank’s stock valued at $4,007,000 after purchasing an additional 1,533 shares during the last quarter. GoalVest Advisory LLC acquired a new position in UMB Financial in the 2nd quarter valued at $131,000. GAMMA Investing LLC lifted its holdings in UMB Financial by 23.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,783 shares of the bank’s stock valued at $255,000 after purchasing an additional 342 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in UMB Financial by 48.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,298 shares of the bank’s stock worth $185,000 after purchasing an additional 426 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

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.