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

Key Points

• UMB Financial shares reached a new 52-week high of $150, supported by a “Moderate Buy” analyst consensus and an average price target of $162.
• The bank beat quarterly expectations, reporting $3.57 in EPS versus $3.12 expected and revenue of $778 million versus the $727.63 million consensus.
• UMB Financial announced a 3-for-2 stock split and raised its quarterly dividend from $0.43 to $0.50, equal to a 1.3% annualized yield.

UMB Financial Corporation (NASDAQ:UMBF - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $150.00 and last traded at $149.4510, with a volume of 213711 shares trading hands. The stock had previously closed at $147.04.

Analyst Ratings Changes

UMBF has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of UMB Financial in a report on Friday, July 24th. Morgan Stanley boosted their price target on UMB Financial from $143.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Citigroup reiterated a "neutral" rating and issued a $162.00 price objective (up from $144.00) on shares of UMB Financial in a research note on Friday. TD Cowen reissued a "buy" rating and issued a $166.00 price objective (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $170.00 target price (up from $168.00) on shares of UMB Financial in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $162.00.

UMB Financial Stock Up 0.9%

The company has a 50-day moving average of $139.04 and a two-hundred day moving average of $128.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $11.27 billion, a PE ratio of 12.35, a P/E/G ratio of 0.77 and a beta of 0.77.

UMB Financial's stock is scheduled to split on the morning of Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly issued shares will be payable to shareholders after the closing bell on Monday, August 31st.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, topping the consensus estimate of $3.12 by $0.45. The firm had revenue of $778.00 million for the quarter, compared to the consensus estimate of $727.63 million. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.During the same quarter last year, the company earned $2.96 earnings per share. Sell-side analysts anticipate that UMB Financial Corporation will post 13.37 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be given a $0.50 dividend. The ex-dividend date is Thursday, September 10th. This is an increase from UMB Financial's previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. UMB Financial's dividend payout ratio (DPR) is currently 16.65%.

Insider Transactions at UMB Financial

In related news, insider Robert Brian Beaird sold 1,600 shares of UMB Financial stock in a transaction on Friday, July 31st. The shares were sold at an average price of $144.40, for a total transaction of $231,040.00. Following the transaction, the insider owned 8,943 shares in the company, valued at approximately $1,291,369.20. The trade was a 15.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President James D. Rine sold 8,246 shares of the company's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the completion of the transaction, the president directly owned 61,446 shares of the company's stock, valued at $8,147,125.14. This represents a 11.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,587 shares of company stock valued at $1,427,251 over the last three months. Corporate insiders own 5.33% of the company's stock.

Hedge Funds Weigh In On UMB Financial

Several large investors have recently made changes to their positions in the business. Alliancebernstein L.P. grew its holdings in UMB Financial by 636.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank's stock valued at $156,543,000 after buying an additional 1,286,543 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of UMB Financial by 32.0% in the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank's stock worth $366,743,000 after buying an additional 751,525 shares in the last quarter. Norges Bank bought a new position in shares of UMB Financial during the fourth quarter worth $85,885,000. UMB Bank n.a. boosted its position in shares of UMB Financial by 11.4% during the fourth quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank's stock worth $553,322,000 after acquiring an additional 493,875 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in UMB Financial by 1,148.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 422,065 shares of the bank's stock valued at $48,554,000 after acquiring an additional 388,253 shares in the last quarter. 87.78% of the stock is currently owned by hedge funds and other 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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