UMB Financial (NASDAQ:UMBF) Hits New 52-Week High – Still a Buy?

UMB Financial Corporation (NASDAQ:UMBF) shares reached a new 52-week high on Tuesday . The company traded as high as $150.00 and last traded at $149.4510, with a volume of 213711 shares trading hands. The stock had previously closed at $147.04.

Analysts Set New Price Targets

Several brokerages have commented on UMBF. Zacks Research cut shares of UMB Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Wells Fargo & Company set a $160.00 price target on shares of UMB Financial and gave the company an “equal weight” rating in a report on Monday, August 10th. Hovde Group upped their target price on shares of UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Stephens assumed coverage on shares of UMB Financial in a research note on Tuesday, July 14th. They issued an “overweight” rating and a $167.00 target price on the stock. Finally, Piper Sandler reiterated an “overweight” rating and set a $181.00 price objective (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $165.00.

UMB Financial Price Performance

The stock’s 50-day moving average is $143.63 and its 200 day moving average is $130.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $11.01 billion, a PE ratio of 12.07, a PEG ratio of 0.72 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.12 by $0.45. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. The company had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $727.63 million. During the same quarter in the prior year, the company posted $2.96 earnings per share. On average, equities analysts anticipate that UMB Financial Corporation will post 13.48 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

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

Insiders Place Their Bets

In other UMB Financial news, Director Susan G. Murphy sold 1,377 shares of the firm’s stock in a transaction on 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 transaction, the director 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nikki Farentino Newton sold 2,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was 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 in the company, valued at $1,780,376.60. The trade was a 14.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 34,171 shares of company stock valued at $4,919,826. Corporate insiders own 5.33% of the company’s stock.

Institutional Trading of UMB Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in UMBF. MBM Wealth Consultants LLC acquired a new stake in shares of UMB Financial in the first quarter worth $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of UMB Financial in the fourth quarter valued at about $27,000. Axiom Investment Management LLC acquired a new stake in shares of UMB Financial in the first quarter valued at about $28,000. Hilton Head Capital Partners LLC acquired a new stake in shares of UMB Financial in the fourth quarter valued at about $34,000. Finally, Torren Management LLC purchased a new stake in UMB Financial during the 4th quarter valued at about $37,000. Institutional investors and hedge funds 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.