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

UMB Financial Corporation (NASDAQ:UMBF)’s stock price hit a new 52-week high on Monday . The stock traded as high as $137.17 and last traded at $137.4780, with a volume of 15381 shares changing hands. The stock had previously closed at $135.37.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on UMBF. Hovde Group raised their price target on UMB Financial from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Morgan Stanley reduced their price objective on UMB Financial from $156.00 to $143.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Zacks Research upgraded UMB Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Barclays lifted their price objective on UMB Financial from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Weiss Ratings upgraded UMB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $145.55.

UMB Financial Stock Up 0.2%

The company has a fifty day moving average of $126.33 and a two-hundred day moving average of $121.70. The company has a market cap of $10.30 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 0.92 and a beta of 0.78. 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 for the quarter, beating the consensus estimate of $2.82 by $0.59. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The company had revenue of $739.16 million for the quarter, compared to analyst estimates of $701.79 million. During the same quarter in the prior year, the firm posted $2.58 EPS. UMB Financial’s quarterly revenue was up 31.1% compared to the same quarter last year. As a group, analysts anticipate that UMB Financial Corporation will post 12.8 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be paid a $0.43 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.72 dividend on an annualized basis and a yield of 1.3%. UMB Financial’s dividend payout ratio (DPR) is presently 15.26%.

Insiders Place Their Bets

In other news, Director Kevin Charles Gallagher sold 381 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total transaction of $50,627.28. Following the transaction, the director owned 12,223 shares in the company, valued at approximately $1,624,192.24. This trade represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President James D. Rine sold 8,246 shares of UMB Financial stock in a transaction on 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 completion of the transaction, the president owned 61,446 shares in the company, valued at $8,147,125.14. This represents a 11.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On UMB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its stake in UMB Financial by 7.5% in the first quarter. NewEdge Advisors LLC now owns 10,440 shares of the bank’s stock valued at $1,178,000 after purchasing an additional 727 shares during the last quarter. Axiom Investment Management LLC purchased a new stake in UMB Financial in the first quarter valued at approximately $28,000. CTC Alternative Strategies Ltd. purchased a new stake in UMB Financial in the first quarter valued at approximately $259,000. Bank of America Corp DE boosted its position in UMB Financial by 7.0% in the 1st quarter. Bank of America Corp DE now owns 695,276 shares of the bank’s stock worth $78,420,000 after purchasing an additional 45,547 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in UMB Financial in the 1st quarter worth approximately $7,404,000. Hedge funds and other 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.