UMB Financial (NASDAQ:UMBF) Hits New 12-Month High at $98.13

UMB Financial Co. (NASDAQ:UMBF) reached a new 52-week high on Tuesday . The stock traded as high as $98.13 and last traded at $97.43, with a volume of 61623 shares changing hands. The stock had previously closed at $95.66.

Analyst Upgrades and Downgrades

UMBF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised UMB Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $93.00 to $98.00 in a research report on Friday, May 31st. Wells Fargo & Company boosted their price objective on UMB Financial from $88.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Finally, Barclays boosted their price objective on UMB Financial from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.67.

UMB Financial Stock Performance

The firm has a 50 day moving average of $84.47 and a two-hundred day moving average of $82.64. The stock has a market cap of $4.76 billion, a PE ratio of 12.90 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.75 and a quick ratio of 0.75.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Monday, April 29th. The bank reported $2.47 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.62. The firm had revenue of $405.19 million during the quarter, compared to analysts’ expectations of $369.80 million. UMB Financial had a return on equity of 14.30% and a net margin of 14.59%. Research analysts predict that UMB Financial Co. will post 8.41 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 10th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Monday, June 10th. UMB Financial’s dividend payout ratio is currently 20.72%.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $81.39, for a total value of $162,780.00. Following the completion of the sale, the chief executive officer now owns 1,698,104 shares in the company, valued at $138,208,684.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders sold 22,952 shares of company stock worth $1,909,242. 8.85% of the stock is owned by insiders.

Institutional Investors Weigh In On UMB Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in UMB Financial by 9.2% in the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock valued at $409,321,000 after buying an additional 394,578 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of UMB Financial by 15.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,997,303 shares of the bank’s stock worth $166,875,000 after purchasing an additional 265,399 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of UMB Financial by 3.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,905,072 shares of the bank’s stock worth $165,722,000 after purchasing an additional 63,022 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of UMB Financial by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,544,008 shares of the bank’s stock worth $129,005,000 after purchasing an additional 161,558 shares during the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of UMB Financial by 0.7% during the fourth quarter. Boston Trust Walden Corp now owns 688,687 shares of the bank’s stock worth $57,540,000 after purchasing an additional 4,677 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

About UMB Financial

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.