Insider Buying: UMB Financial (NASDAQ:UMBF) Director Buys $55,002.40 in Stock

UMB Financial Corporation (NASDAQ:UMBF) Director Tamara Peterman bought 394 shares of the stock in a transaction dated Tuesday, September 1st. The stock was purchased at an average price of $139.60 per share, with a total value of $55,002.40. Following the acquisition, the director directly owned 10,680 shares in the company, valued at approximately $1,490,928. The trade was a 3.83% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

UMB Financial Price Performance

UMBF stock opened at $143.76 on Friday. The stock has a market cap of $10.92 billion, a PE ratio of 11.97, a P/E/G ratio of 0.70 and a beta of 0.77. UMB Financial Corporation has a 12 month low of $68.92 and a 12 month high of $144.36. The company has a 50-day moving average price of $144.91 and a 200 day moving average price of $131.21. 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 (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.45. The company had revenue of $778.00 million for the quarter, compared to analyst estimates of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same period in the prior year, the company posted $2.96 EPS. Equities research analysts anticipate that UMB Financial Corporation will post 13.5 earnings per share for the current year.

UMB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be issued a $0.50 dividend. The ex-dividend date is Thursday, September 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. UMB Financial’s dividend payout ratio (DPR) is currently 16.65%.

Hedge Funds Weigh In On UMB Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in UMBF. California State Teachers Retirement System raised its holdings in shares of UMB Financial by 13,612.7% in the second quarter. California State Teachers Retirement System now owns 11,954,437 shares of the bank’s stock valued at $1,706,615,000 after acquiring an additional 11,867,259 shares in the last quarter. BlackRock Inc. bought a new position in UMB Financial during the 2nd quarter worth about $1,458,386,000. UMB Bank n.a. increased its position in UMB Financial by 11.4% during the 4th quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank’s stock valued at $553,322,000 after purchasing an additional 493,875 shares during the period. State Street Corp increased its position in UMB Financial by 7.9% during the 2nd quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock valued at $453,461,000 after purchasing an additional 313,414 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of UMB Financial by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock valued at $366,743,000 after purchasing an additional 751,525 shares in the last quarter. Institutional investors own 87.78% of the company’s stock.

UMB Financial News Summary

Here are the key news stories impacting UMB Financial this week:

• Positive Sentiment: Insider buying signals confidence. Directors Tamara Peterman and Greg M. Graves purchased a combined 967 shares for approximately $135,000. Peterman increased her holdings by 3.83%, while Graves increased his stake by 1.44%, providing a modest positive signal from company insiders. Insider Buying: UMB Financial Director Purchases Stock
• Positive Sentiment: Fundamentals remain strong. UMB Financial’s latest quarterly results exceeded expectations, with earnings per share of $3.57 versus the $3.12 consensus and revenue of $778 million versus the $727.63 million estimate. Analysts and recent commentary point to continued growth, efficiency gains, strong capital, potential rate-related benefits and progress integrating Heartland Financial. UMB Financial Growth and Quality
• Positive Sentiment: Dividend increased. The quarterly dividend was raised to $0.50 from $0.43, equal to a $2.00 annualized payout and an approximately 1.4% yield. The increase reinforces confidence in earnings and capital generation. UMB Financial Dividend and Insider Buying
• Positive Sentiment: Analyst targets imply additional upside. Recent analyst targets range as high as $181, compared with a consensus target of $166.54, while the overall analyst stance is “Moderate Buy.” UMB Financial Capital and Rate Tailwinds
• Neutral Sentiment: UMB Bank appointed Eddie Broussard as president of its West Texas market, a move that may support regional commercial-banking expansion but is unlikely to materially change near-term earnings. UMB Bank Names West Texas Market President

Analyst Upgrades and Downgrades

Several equities analysts have commented on UMBF shares. Wells Fargo & Company set a $160.00 price objective on UMB Financial and gave the company an “equal weight” rating in a research report on Monday, August 10th. Citigroup reissued a “neutral” rating and set a $162.00 target price (up from $144.00) on shares of UMB Financial in a research note on Friday, July 31st. Barclays restated an “overweight” rating and issued a $175.00 price target (up from $170.00) on shares of UMB Financial in a report on Monday, August 3rd. Keefe, Bruyette & Woods raised their price target on shares of UMB Financial from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Zacks Research lowered shares of UMB Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $166.54.

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.