UMB Financial (NASDAQ:UMBF) Sets New 12-Month High – Time to Buy?

UMB Financial Corporation (NASDAQ:UMBF) shares hit a new 52-week high on Tuesday . The company traded as high as $144.36 and last traded at $143.4630, with a volume of 400241 shares trading hands. The stock had previously closed at $143.76.

Wall Street Analyst Weigh In

UMBF has been the topic of several research reports. Morgan Stanley lifted their price objective on UMB Financial from $159.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday. TD Cowen restated a “buy” rating and issued a $166.00 target price (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. JPMorgan Chase & Co. began coverage on shares of UMB Financial in a report on Thursday, August 20th. They set an “overweight” rating and a $180.00 target price on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $170.00 target price (up from $168.00) on shares of UMB Financial in a research report on Thursday, July 30th. Finally, Stephens initiated coverage on shares of UMB Financial in a research note on Tuesday, July 14th. They set an “overweight” rating and a $167.00 price objective on the stock. 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. Based on data from MarketBeat, UMB Financial currently has an average rating of “Moderate Buy” and an average target price of $168.92.

UMB Financial Trading Down 0.9%

The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $10.73 billion, a PE ratio of 11.76, a PEG ratio of 0.70 and a beta of 0.77. The stock’s fifty day simple moving average is $144.85 and its 200 day simple moving average is $131.55.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.45. The business had revenue of $778.00 million for the quarter, compared to analysts’ expectations of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same quarter last year, the company posted $2.96 EPS. On average, sell-side analysts predict that UMB Financial Corporation will post 13.5 earnings per share for the current year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be paid a dividend of $0.50 per share. This is a boost from UMB Financial’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. UMB Financial’s dividend payout ratio is presently 14.32%.

Insider Activity at UMB Financial

In other news, insider Phillip Mason sold 800 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $147.00, for a total value of $117,600.00. Following the completion of the transaction, the insider owned 8,894 shares of the company’s stock, valued at $1,307,418. This represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Greg Graves bought 573 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were acquired at an average price of $139.60 per share, with a total value of $79,990.80. Following the transaction, the director directly owned 40,463 shares of the company’s stock, valued at $5,648,634.80. This represents a 1.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 25,544 shares of company stock worth $3,775,862 in the last 90 days. Insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On UMB Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Junto Capital Management LP bought a new stake in UMB Financial in the 2nd quarter valued at $58,924,000. Sequoia Financial Advisors LLC lifted its position in shares of UMB Financial by 45.6% in the second quarter. Sequoia Financial Advisors LLC now owns 6,163 shares of the bank’s stock worth $880,000 after buying an additional 1,929 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in UMB Financial during the second quarter valued at approximately $102,000. Nykredit A S purchased a new position in UMB Financial during the 2nd quarter valued at approximately $556,000. Finally, Corient Private Wealth LP purchased a new position in UMB Financial during the 2nd quarter valued at approximately $221,000. Institutional investors own 87.78% of the company’s stock.

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.