UMB Financial (NASDAQ:UMBF) Hits New 1-Year High - Here's Why

Key Points

• UMB Financial shares hit a new 52-week high, trading as high as $141.63 and rising 49.3%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $166.54.
• The bank reported stronger-than-expected quarterly results, posting EPS of $3.57 versus the $3.12 consensus and revenue of $778 million, ahead of estimates.
• UMB Financial increased its quarterly dividend from $0.43 to $0.50 per share, while insiders sold approximately $4.9 million worth of stock over the past 90 days.

UMB Financial Corporation (NASDAQ:UMBF - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $141.63 and last traded at $141.0150, with a volume of 472 shares traded. The stock had previously closed at $94.42.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Piper Sandler reiterated an "overweight" rating and issued a $181.00 target price (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. Stephens initiated coverage on UMB Financial in a research report on Tuesday, July 14th. They set an "overweight" rating and a $167.00 target price on the stock. Raymond James Financial initiated coverage on UMB Financial in a research report on Thursday. They issued an "outperform" rating and a $165.00 target price for the company. Barclays reiterated an "overweight" rating and issued a $175.00 price objective (up from $170.00) on shares of UMB Financial in a research note on Monday, August 3rd. Finally, Wells Fargo & Company set a $160.00 price target on UMB Financial and gave the company an "equal weight" rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $166.54.

UMB Financial Trading Up 49.3%

The business has a 50 day moving average price of $144.96 and a 200 day moving average price of $130.89. The company has a market capitalization of $10.71 billion, a P/E ratio of 11.74, a PEG ratio of 0.71 and a beta of 0.77. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The business had revenue of $778.00 million for the quarter, compared to analyst estimates of $727.63 million. During the same quarter in the prior year, the company posted $2.96 earnings per share. Analysts anticipate that UMB Financial Corporation will post 13.48 EPS for the current year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be issued a $0.50 dividend. This is an increase from UMB Financial's previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 10th. UMB Financial's dividend payout ratio is presently 14.32%.

Insider Buying and Selling at UMB Financial

In related news, CEO J Mariner Kemper sold 15,062 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $148.55, for a total transaction of $2,237,460.10. Following the sale, the chief executive officer owned 1,491,138 shares in the company, valued at approximately $221,508,549.90. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Phillip James Mason sold 800 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $147.00, for a total value of $117,600.00. Following the transaction, the insider directly owned 8,894 shares of the company's stock, valued at $1,307,418. This trade represents a 8.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,171 shares of company stock worth $4,919,826 in the last ninety days. Insiders own 5.33% of the company's stock.

Institutional Investors Weigh In On UMB Financial

Institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LP acquired a new stake in shares of UMB Financial in the second quarter valued at about $221,000. Amundi boosted its holdings in shares of UMB Financial by 14.7% during the 2nd quarter. Amundi now owns 4,620 shares of the bank's stock worth $660,000 after buying an additional 593 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of UMB Financial during the 2nd quarter worth approximately $685,000. California State Teachers Retirement System increased its stake in shares of UMB Financial by 13,612.7% in the 2nd quarter. California State Teachers Retirement System now owns 11,954,437 shares of the bank's stock valued at $1,706,615,000 after acquiring an additional 11,867,259 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new position in shares of UMB Financial during the 2nd quarter valued at $248,000. 87.78% of the stock is owned by institutional investors.

About UMB Financial

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.

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