UMB Financial Corp. (UMBF) Sets New 52-Week High at $61.24
UMB Financial Corp. (NASDAQ:UMBF)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $61.24 and last traded at $60.89, with a volume of 101,578 shares changing hands. The stock had previously closed at $60.59.
Several brokerages have issued reports on UMBF. Zacks Investment Research raised shares of UMB Financial Corp. from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Thursday, August 11th. TheStreet raised shares of UMB Financial Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, May 24th. Bank of America Corp. reissued a “buy” rating and issued a $60.00 price objective on shares of UMB Financial Corp. in a research note on Tuesday, May 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of UMB Financial Corp. from $52.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. UMB Financial Corp. presently has an average rating of “Buy” and an average price target of $60.50.
The company has a market cap of $3.01 billion and a price-to-earnings ratio of 23.74. The firm has a 50-day moving average price of $57.14 and a 200-day moving average price of $54.30.
UMB Financial Corp. (NASDAQ:UMBF) last released its earnings results on Tuesday, July 26th. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. During the same quarter last year, the company posted $0.65 earnings per share. The business had revenue of $242.70 million for the quarter, compared to analysts’ expectations of $240.10 million. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities analysts predict that UMB Financial Corp. will post $3.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be paid a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Wednesday, September 7th.
In related news, EVP Christian R. Swett sold 1,518 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $60.51, for a total transaction of $91,854.18. Following the transaction, the executive vice president now directly owns 5,746 shares in the company, valued at $347,690.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
An institutional investor recently raised its position in UMB Financial Corp. stock. Principal Financial Group Inc. boosted its stake in UMB Financial Corp. (NASDAQ:UMBF) by 4.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 281,178 shares of the company’s stock after buying an additional 12,072 shares during the period. Principal Financial Group Inc. owned 0.57% of UMB Financial Corp. worth $13,089,000 as of its most recent SEC filing.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.