UMB Financial Corp. (UMBF) Hits New 12-Month High at $59.61
UMB Financial Corp. (NASDAQ:UMBF) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $59.61 and last traded at $59.50, with a volume of 33,800 shares traded. The stock had previously closed at $59.30.
UMBF has been the topic of several research reports. Raymond James Financial Inc. raised UMB Financial Corp. from an “underperform” rating to a “market perform” rating in a research report on Thursday, April 28th. Zacks Investment Research cut UMB Financial Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Keefe, Bruyette & Woods raised their target price on UMB Financial Corp. from $52.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday, July 28th. Bank of America Corp. reissued a “buy” rating and issued a $60.00 target price on shares of UMB Financial Corp. in a research report on Tuesday, May 24th. Finally, TheStreet raised UMB Financial Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, May 24th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $60.50.
The company has a market cap of $2.94 billion and a PE ratio of 23.208. The company has a 50-day moving average of $55.99 and a 200-day moving average of $53.76.
UMB Financial Corp. (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.02. The company earned $242.70 million during the quarter, compared to the consensus estimate of $240.10 million. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, analysts expect that UMB Financial Corp. will post $3.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be given a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, September 7th.
Several hedge funds and institutional investors recently added to or reduced their stakes in UMBF. RS Investment Management Co. LLC raised its position in UMB Financial Corp. by 18.1% in the fourth quarter. RS Investment Management Co. LLC now owns 1,082,587 shares of the company’s stock valued at $50,394,000 after buying an additional 165,715 shares during the last quarter. Dimensional Fund Advisors LP raised its position in UMB Financial Corp. by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,364,242 shares of the company’s stock valued at $63,509,000 after buying an additional 64,130 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in UMB Financial Corp. by 4.5% in the fourth quarter. Principal Financial Group Inc. now owns 281,178 shares of the company’s stock valued at $13,089,000 after buying an additional 12,072 shares during the last quarter.