UMB Financial (NASDAQ:UMBF) Reaches New 52-Week High – Here’s What Happened

UMB Financial Corporation (NASDAQ:UMBF) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $147.36 and last traded at $147.3980, with a volume of 13014 shares. The stock had previously closed at $145.31.

Analyst Ratings Changes

A number of research firms have commented on UMBF. Hovde Group raised their price target on shares of UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. TD Cowen increased their price objective on shares of UMB Financial from $141.00 to $147.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Piper Sandler raised their target price on UMB Financial from $155.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Zacks Research downgraded UMB Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Stephens assumed coverage on UMB Financial in a research report on Tuesday. They issued an “overweight” rating and a $167.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.17.

UMB Financial Stock Up 1.5%

The firm has a market cap of $11.21 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.79 and a beta of 0.77. The stock’s 50 day simple moving average is $135.07 and its 200 day simple moving average is $125.72. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.59. The business had revenue of $739.16 million during the quarter, compared to the consensus estimate of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The company’s quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 EPS. Research analysts anticipate that UMB Financial Corporation will post 12.85 EPS for the current year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.72 annualized dividend and a dividend yield of 1.2%. UMB Financial’s dividend payout ratio (DPR) is currently 15.26%.

Insider Activity

In other UMB Financial news, President James D. Rine sold 8,246 shares of UMB Financial stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total value of $1,093,337.14. Following the sale, the president owned 61,446 shares of the company’s stock, valued at approximately $8,147,125.14. The trade was a 11.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kevin Charles Gallagher sold 381 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $132.88, for a total transaction of $50,627.28. Following the completion of the transaction, the director owned 12,223 shares in the company, valued at approximately $1,624,192.24. The trade was a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On UMB Financial

A number of hedge funds have recently modified their holdings of UMBF. UMB Bank n.a. grew its holdings in UMB Financial by 11.4% during the fourth 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 raised its stake in shares of UMB Financial by 7.9% in the second quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock valued at $453,461,000 after buying an additional 313,414 shares during the period. Wellington Management Group LLP raised its stake in shares of UMB Financial by 32.0% in the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock valued at $366,743,000 after buying an additional 751,525 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of UMB Financial by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank’s stock valued at $328,200,000 after buying an additional 55,005 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of UMB Financial by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,907,978 shares of the bank’s stock valued at $219,529,000 after buying an additional 33,078 shares during the last quarter. Institutional investors own 87.78% of the company’s stock.

UMB Financial Company Profile

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.