Greg M. Graves Buys 261 Shares of UMB Financial Corporation (NASDAQ:UMBF) Stock

Key Points

• Greg M. Graves, a director at UMB Financial Corporation, acquired 261 shares at an average cost of $107.58 each, increasing his ownership to 37,800 shares valued at over $4 million.
• UMB Financial reported quarterly earnings of $2.96 per share, exceeding analysts' estimates by $0.61, with revenue growth of 76.7% year-over-year.
• The company declared a quarterly dividend of $0.40 per share, set to be paid on October 1st, representing a 1.4% dividend yield.

UMB Financial Corporation (NASDAQ:UMBF - Get Free Report) Director Greg M. Graves bought 261 shares of the stock in a transaction dated Friday, August 1st. The shares were purchased at an average price of $107.58 per share, with a total value of $28,078.38. Following the completion of the transaction, the director directly owned 37,800 shares in the company, valued at approximately $4,066,524. The trade was a 0.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

UMB Financial Price Performance

Shares of NASDAQ:UMBF traded up $2.07 during midday trading on Friday, hitting $110.68. The company had a trading volume of 172,841 shares, compared to its average volume of 667,460. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. The business's 50-day simple moving average is $105.27 and its 200-day simple moving average is $103.86. UMB Financial Corporation has a twelve month low of $82.00 and a twelve month high of $129.94. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.26 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. The firm had revenue of $689.21 million during the quarter, compared to analysts' expectations of $638.25 million. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The firm's quarterly revenue was up 76.7% on a year-over-year basis. During the same quarter last year, the company posted $2.16 EPS. On average, research analysts predict that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, September 10th. UMB Financial's payout ratio is 18.39%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank Of Canada boosted their target price on UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Barclays upped their price objective on shares of UMB Financial from $140.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Truist Financial upped their target price on UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Bank of America began coverage on UMB Financial in a report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price objective for the company. Finally, Piper Sandler lifted their price objective on shares of UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $132.11.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Angel Oak Capital Advisors LLC raised its holdings in UMB Financial by 40.2% during the second quarter. Angel Oak Capital Advisors LLC now owns 13,600 shares of the bank's stock worth $1,430,000 after purchasing an additional 3,900 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in shares of UMB Financial by 13.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 16,478 shares of the bank's stock valued at $1,733,000 after purchasing an additional 1,955 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of UMB Financial by 6.9% in the second quarter. Geode Capital Management LLC now owns 1,846,252 shares of the bank's stock valued at $194,173,000 after acquiring an additional 119,319 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in UMB Financial by 4.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the bank's stock valued at $889,000 after purchasing an additional 391 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in UMB Financial by 34.5% during the second quarter. ProShare Advisors LLC now owns 361,068 shares of the bank's stock worth $37,970,000 after acquiring an additional 92,656 shares during the period. Institutional investors and hedge funds own 87.78% of the company's stock.

UMB Financial Company Profile

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.