UMB Financial (NASDAQ:UMBF) Reaches New 12-Month High – Still a Buy?

UMB Financial Corporation (NASDAQ:UMBF)’s share price reached a new 52-week high on Thursday . The company traded as high as $150.85 and last traded at $150.5260, with a volume of 30552 shares traded. The stock had previously closed at $149.45.

Wall Street Analyst Weigh In

A number of research firms have commented on UMBF. Hovde Group boosted their target price on UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods increased their target price on UMB Financial from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Barclays reissued an “overweight” rating and issued a $175.00 price objective (up from $170.00) on shares of UMB Financial in a research report on Monday, August 3rd. Stephens started coverage on UMB Financial in a research note on Tuesday, July 14th. They issued an “overweight” rating and a $167.00 target price for the company. Finally, Morgan Stanley boosted their price objective on shares of UMB Financial from $143.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $163.75.

UMB Financial Price Performance

The firm has a market capitalization of $11.55 billion, a P/E ratio of 12.66, a P/E/G ratio of 0.74 and a beta of 0.77. The business’s fifty day moving average is $142.26 and its 200 day moving average is $129.60. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.

UMB Financial’s stock is scheduled to split on the morning of Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly issued shares will be issued to shareholders after the market closes on Monday, August 31st.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The firm had revenue of $778.00 million during the quarter, compared to the consensus estimate of $727.63 million. During the same period in the prior year, the business earned $2.96 EPS. As a group, analysts forecast that UMB Financial Corporation will post 13.48 EPS for the current year.

UMB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be paid a $0.50 dividend. The ex-dividend date is Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. UMB Financial’s dividend payout ratio is currently 14.32%.

Insider Activity at UMB Financial

In other UMB Financial news, insider Nikki Farentino Newton sold 2,000 shares of UMB Financial stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $148.60, for a total transaction of $297,200.00. Following the completion of the sale, the insider owned 11,981 shares of the company’s stock, valued at approximately $1,780,376.60. The trade was a 14.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan G. Murphy sold 1,377 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $145.55, for a total value of $200,422.35. Following the completion of the sale, the director directly owned 10,635 shares of the company’s stock, valued at approximately $1,547,924.25. This trade represents a 11.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 34,171 shares of company stock valued at $4,919,826. Insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On UMB Financial

Several institutional investors have recently added to or reduced their stakes in UMBF. Hsbc Holdings PLC grew its holdings in UMB Financial by 290.2% during the first quarter. Hsbc Holdings PLC now owns 13,355 shares of the bank’s stock worth $1,506,000 after purchasing an additional 9,932 shares during the period. B. Metzler seel. Sohn & Co. AG grew its holdings in UMB Financial by 40.8% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 38,261 shares of the bank’s stock valued at $4,402,000 after buying an additional 11,083 shares in the last quarter. Farther Finance Advisors LLC increased its position in UMB Financial by 5,349.0% during the fourth quarter. Farther Finance Advisors LLC now owns 13,568 shares of the bank’s stock worth $1,561,000 after acquiring an additional 13,319 shares during the period. Clearbridge Investments LLC increased its holdings in shares of UMB Financial by 1.5% during the fourth quarter. Clearbridge Investments LLC now owns 614,037 shares of the bank’s stock worth $70,639,000 after purchasing an additional 9,147 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in UMB Financial by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank’s stock valued at $328,200,000 after acquiring an additional 55,005 shares in the last quarter. 87.78% of the stock is owned by institutional investors.

About UMB Financial

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.