UMB Financial (NASDAQ:UMBF) Hits New 52-Week High – Here’s Why

UMB Financial Corporation (NASDAQ:UMBF)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $126.96 and last traded at $126.1350, with a volume of 348206 shares. The stock had previously closed at $120.51.

Analyst Upgrades and Downgrades

UMBF has been the topic of a number of analyst reports. TD Cowen restated a “buy” rating on shares of UMB Financial in a report on Wednesday, January 7th. Morgan Stanley lifted their price target on UMB Financial from $120.00 to $154.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Weiss Ratings lowered UMB Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Hovde Group assumed coverage on UMB Financial in a report on Monday, October 6th. They issued an “outperform” rating for the company. Finally, Royal Bank Of Canada set a $134.00 price objective on shares of UMB Financial and gave the stock an “outperform” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.10.

UMB Financial Stock Up 4.8%

The company has a debt-to-equity ratio of 0.07, a current ratio of 0.75 and a quick ratio of 0.75. The firm’s 50 day moving average price is $115.75 and its two-hundred day moving average price is $114.43. The firm has a market cap of $9.60 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 0.99 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, October 28th. The bank reported $2.70 EPS for the quarter, beating the consensus estimate of $2.48 by $0.22. The firm had revenue of $678.34 million during the quarter, compared to the consensus estimate of $661.60 million. UMB Financial had a return on equity of 12.15% and a net margin of 16.01%.The firm’s revenue was up 67.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.25 EPS. As a group, sell-side analysts forecast that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Wednesday, December 10th were paid a $0.43 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $1.72 annualized dividend and a yield of 1.4%. This is an increase from UMB Financial’s previous quarterly dividend of $0.40. UMB Financial’s dividend payout ratio is presently 19.48%.

Insider Activity

In related news, CEO J Mariner Kemper sold 15,367 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $114.58, for a total value of $1,760,750.86. Following the completion of the sale, the chief executive officer owned 1,521,414 shares in the company, valued at $174,323,616.12. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Greg M. Graves bought 264 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were acquired at an average price of $106.41 per share, for a total transaction of $28,092.24. Following the transaction, the director directly owned 38,411 shares in the company, valued at $4,087,314.51. This trade represents a 0.69% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 17,127 shares of company stock worth $1,949,594 over the last quarter. Insiders own 5.45% of the company’s stock.

Institutional Trading of UMB Financial

A number of institutional investors have recently modified their holdings of UMBF. Farther Finance Advisors LLC raised its position in UMB Financial by 219.2% in the third quarter. Farther Finance Advisors LLC now owns 249 shares of the bank’s stock worth $29,000 after acquiring an additional 171 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of UMB Financial by 193.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 405 shares of the bank’s stock valued at $43,000 after purchasing an additional 267 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of UMB Financial by 72.8% in the third quarter. Bessemer Group Inc. now owns 420 shares of the bank’s stock valued at $50,000 after purchasing an additional 177 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in UMB Financial by 88.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 425 shares of the bank’s stock worth $50,000 after buying an additional 199 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in UMB Financial by 168.6% in the third quarter. Smartleaf Asset Management LLC now owns 752 shares of the bank’s stock valued at $89,000 after buying an additional 472 shares in the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

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.