UMB Financial (NASDAQ:UMBF) Share Price Breaks Above 50-Day Moving Average - Here's Why

Key Points

• UMB Financial shares moved above their 50-day moving average, trading as high as $138.02 and last at $136.65, versus a 50-day average of $134.76.
• The bank beat quarterly expectations, reporting EPS of $3.56 versus $3.22 estimated and revenue of $772.39 million versus $744.81 million; revenue rose 13.9% year over year.
• Analysts’ consensus rating is Moderate Buy, with a consensus price target of $161.64. The company also announced a quarterly dividend of $0.50 per share.

UMB Financial Corporation (NASDAQ:UMBF - Get Free Report)'s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $134.76 and traded as high as $138.02. UMB Financial shares last traded at $136.65, with a volume of 559,959 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on UMBF shares. JPMorgan Chase & Co. cut their price objective on UMB Financial from $180.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, October 1st. Barclays boosted their target price on UMB Financial from $175.00 to $185.00 and gave the stock an "overweight" rating in a report on Tuesday, November 3rd. Truist Financial dropped their price target on UMB Financial from $170.00 to $156.00 and set a "buy" rating on the stock in a research note on Tuesday, October 20th. Citigroup dropped their price target on UMB Financial from $162.00 to $145.00 and set a "neutral" rating on the stock in a research note on Thursday, October 29th. Finally, Raymond James Financial initiated coverage on UMB Financial in a report on Thursday, August 27th. They set an "outperform" rating and a $165.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.64.

UMB Financial Stock Performance

The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 0.63 and a beta of 0.84. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. The stock's 50 day moving average is $134.76 and its 200 day moving average is $131.63.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The bank reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.34. UMB Financial had a net margin of 23.45% and a return on equity of 14.07%. The firm had revenue of $772.39 million during the quarter, compared to the consensus estimate of $744.81 million. During the same period last year, the business posted $2.70 earnings per share. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts anticipate that UMB Financial Corporation will post 13.79 earnings per share for the current year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Thursday, December 10th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, December 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. UMB Financial's dividend payout ratio (DPR) is 15.14%.

Insider Buying and Selling

In other news, Director Tamara Peterman acquired 201 shares of the firm's stock in a transaction on Monday, November 2nd. The shares were purchased at an average cost of $137.02 per share, with a total value of $27,541.02. Following the acquisition, the director directly owned 10,922 shares in the company, valued at $1,496,532.44. This represents a 1.87% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kevin Gallagher sold 370 shares of the company's stock in a transaction on Friday, October 30th. The shares were sold at an average price of $134.82, for a total value of $49,883.40. Following the completion of the transaction, the director directly owned 11,493 shares in the company, valued at approximately $1,549,486.26. This represents a 3.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders bought 1,460 shares of company stock valued at $202,544. Insiders own 5.33% of the company's stock.

Institutional Investors Weigh In On UMB Financial

A number of institutional investors have recently modified their holdings of UMBF. West Family Investments Inc. grew its stake in shares of UMB Financial by 59.9% in the third quarter. West Family Investments Inc. now owns 3,036 shares of the bank's stock valued at $395,000 after acquiring an additional 1,137 shares in the last quarter. Bessemer Group Inc. raised its stake in UMB Financial by 1.8% in the 3rd quarter. Bessemer Group Inc. now owns 79,362 shares of the bank's stock worth $10,319,000 after purchasing an additional 1,380 shares in the last quarter. Hantz Financial Services Inc. raised its stake in UMB Financial by 1.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 6,706 shares of the bank's stock worth $872,000 after purchasing an additional 100 shares in the last quarter. Virtus Advisers LLC raised its stake in UMB Financial by 16.1% in the 3rd quarter. Virtus Advisers LLC now owns 11,786 shares of the bank's stock worth $1,532,000 after purchasing an additional 1,637 shares in the last quarter. Finally, Dogwood Wealth Management LLC bought a new stake in UMB Financial in the 3rd quarter valued at about $63,000. Institutional investors own 87.78% of the company's stock.

UMB Financial Company Profile

UMB Financial Corporation is a bank holding company headquartered in Kansas City, Missouri. Founded in 1913 as City Center Bank, it has grown into a financial services company serving individuals, businesses, institutions and government entities.

Through its banking businesses, UMB offers deposit accounts, loans, treasury management and other commercial and personal banking services. Its institutional and specialized services include trust and custody, asset servicing, investment management, fund services and healthcare account solutions.

UMB serves customers across the United States, with a strong presence in the Midwest and banking operations in several other states.

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