UMB Financial (NASDAQ:UMBF) Sets New 52-Week High at $86.35

UMB Financial Co. (NASDAQ:UMBF - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $86.35 and last traded at $86.30, with a volume of 41537 shares changing hands. The stock had previously closed at $85.61.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Piper Sandler upped their price objective on UMB Financial from $87.50 to $99.00 and gave the stock an "overweight" rating in a report on Thursday, February 1st. Barclays initiated coverage on shares of UMB Financial in a research note on Friday, March 8th. They issued an "equal weight" rating and a $91.00 target price on the stock. Raymond James increased their price objective on shares of UMB Financial from $80.00 to $102.00 and gave the company a "strong-buy" rating in a report on Thursday, February 1st. Finally, StockNews.com raised shares of UMB Financial from a "sell" rating to a "hold" rating in a report on Saturday, March 16th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, UMB Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.17.

UMB Financial Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 12.12 and a beta of 0.82. The stock has a 50-day moving average price of $81.47 and a 200 day moving average price of $74.46.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The bank reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.53. UMB Financial had a net margin of 14.70% and a return on equity of 13.75%. The company had revenue of $370.80 million for the quarter, compared to the consensus estimate of $360.69 million. During the same period last year, the company earned $2.06 earnings per share. The firm's revenue was up .0% compared to the same quarter last year. As a group, analysts anticipate that UMB Financial Co. will post 7.29 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, March 8th. UMB Financial's dividend payout ratio (DPR) is 21.73%.

Insider Activity

In related news, CEO J Mariner Kemper sold 7,920 shares of the firm's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $80.37, for a total value of $636,530.40. Following the completion of the sale, the chief executive officer now directly owns 1,771,004 shares in the company, valued at approximately $142,335,591.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other UMB Financial news, EVP John Pauls sold 1,440 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $79.51, for a total transaction of $114,494.40. Following the completion of the sale, the executive vice president now directly owns 8,496 shares in the company, valued at $675,516.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Mariner Kemper sold 7,920 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $80.37, for a total value of $636,530.40. Following the transaction, the chief executive officer now owns 1,771,004 shares in the company, valued at approximately $142,335,591.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,667 shares of company stock valued at $1,187,393. 8.85% of the stock is owned by insiders.

Institutional Investors Weigh In On UMB Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in shares of UMB Financial by 646.3% during the second quarter. Goldman Sachs Group Inc. now owns 2,596,571 shares of the bank's stock worth $158,131,000 after purchasing an additional 2,248,655 shares during the period. State Street Corp raised its holdings in UMB Financial by 81.2% in the 1st quarter. State Street Corp now owns 3,708,145 shares of the bank's stock valued at $361,563,000 after acquiring an additional 1,661,449 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of UMB Financial by 73.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,586,701 shares of the bank's stock valued at $160,505,000 after acquiring an additional 1,095,630 shares during the period. Norges Bank acquired a new stake in shares of UMB Financial during the 4th quarter worth $39,376,000. Finally, Victory Capital Management Inc. increased its position in shares of UMB Financial by 15.3% in 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 period. Institutional investors and hedge funds 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.