UMB Financial Corporation (NASDAQ:UMBF) Plans Quarterly Dividend of $0.40

Key Points

• UMB Financial Corporation announced a quarterly dividend of $0.40 per share, with a payment date set for October 1st for stockholders of record as of September 10th.
• The company reported a strong quarterly earnings performance, with an EPS of $2.96 exceeding expectations by $0.61, and revenues of $689.21 million, up 76.7% year-over-year.
• Analyst ratings for UMB Financial include a consensus rating of "Hold" and an average target price of $127.00, with several firms adjusting their price targets upward.

UMB Financial Corporation (NASDAQ:UMBF - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, Wall Street Journal reports. Investors of record on Wednesday, September 10th will be paid a dividend of 0.40 per share by the bank on Wednesday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, September 10th.

UMB Financial has a payout ratio of 14.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect UMB Financial to earn $11.06 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 14.5%.

UMB Financial Stock Performance

Shares of NASDAQ:UMBF traded down $2.20 during mid-day trading on Friday, reaching $107.80. 290,731 shares of the company traded hands, compared to its average volume of 665,207. The company's 50 day moving average price is $104.62 and its 200-day moving average price is $104.23. The firm has a market cap of $8.18 billion, a PE ratio of 12.37, a PEG ratio of 1.47 and a beta of 0.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. UMB Financial has a 52 week low of $82.00 and a 52 week high of $129.94.

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

Insider Buying and Selling

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the sale, the chief executive officer directly owned 288,945 shares of the company's stock, valued at approximately $29,417,490.45. This trade represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.45% of the company's stock.

Institutional Trading of UMB Financial

A number of institutional investors have recently made changes to their positions in the company. Truist Financial Corp boosted its stake in shares of UMB Financial by 0.5% in the second quarter. Truist Financial Corp now owns 20,426 shares of the bank's stock worth $2,148,000 after acquiring an additional 97 shares during the last quarter. MAI Capital Management boosted its stake in shares of UMB Financial by 14.7% in the first quarter. MAI Capital Management now owns 771 shares of the bank's stock worth $78,000 after acquiring an additional 99 shares during the last quarter. OLD National Bancorp IN lifted its position in UMB Financial by 0.4% during the second quarter. OLD National Bancorp IN now owns 22,834 shares of the bank's stock worth $2,401,000 after buying an additional 100 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in UMB Financial by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 9,145 shares of the bank's stock worth $925,000 after buying an additional 122 shares in the last quarter. Finally, Covestor Ltd lifted its position in UMB Financial by 28.8% during the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after buying an additional 124 shares in the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

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.