UMB Financial (NASDAQ:UMBF) Posts Earnings Results, Beats Expectations By $0.50 EPS

Key Points

• UMB Financial exceeded quarterly expectations, reporting EPS of $3.57 versus the $3.07 consensus estimate and revenue of $778.0 million against expectations of $727.63 million. Net margin was 20.42%, with return on equity at 13.07%.
• Shares rose to $143.98 following the results, near the company’s 12-month high of $148.31. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $152.17.
• Institutional investors own 87.78% of UMB Financial, while company insiders own 5.33%; two insiders recently sold shares.

UMB Financial (NASDAQ:UMBF - Get Free Report) issued its earnings results on Tuesday. The bank reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.50, FiscalAI reports. The company had revenue of $778.00 million for the quarter, compared to analysts' expectations of $727.63 million. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%.

UMB Financial Stock Performance

Shares of UMBF stock traded up $3.01 during trading hours on Tuesday, reaching $143.98. 831,411 shares of the company traded hands, compared to its average volume of 632,267. UMB Financial has a 12-month low of $103.38 and a 12-month high of $148.31. The company has a market cap of $10.94 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.78 and a beta of 0.77. The firm has a 50-day moving average price of $137.42 and a 200 day moving average price of $127.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on UMBF. Stephens assumed coverage on UMB Financial in a report on Tuesday, July 14th. They issued an "overweight" rating and a $167.00 price objective for the company. Piper Sandler raised their target price on UMB Financial from $155.00 to $161.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Citigroup boosted their price target on UMB Financial from $138.00 to $144.00 and gave the company a "neutral" rating in a research note on Thursday, June 25th. Barclays upped their price target on shares of UMB Financial from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada increased their price objective on shares of UMB Financial from $138.00 to $142.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $152.17.

Insider Buying and Selling

In other UMB Financial news, President James D. Rine sold 8,246 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total value of $1,093,337.14. Following the completion of the transaction, the president directly owned 61,446 shares in the company, valued at $8,147,125.14. This represents a 11.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kevin Charles Gallagher sold 381 shares of the firm's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $132.88, for a total transaction of $50,627.28. Following the sale, the director owned 12,223 shares in the company, valued at $1,624,192.24. The trade was a 3.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. UMB Bank n.a. raised its stake in UMB Financial by 11.4% during the 4th quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank's stock valued at $553,322,000 after purchasing an additional 493,875 shares during the period. State Street Corp boosted its stake in UMB Financial by 7.9% in the 2nd quarter. State Street Corp now owns 4,296,190 shares of the bank's stock worth $453,461,000 after purchasing an additional 313,414 shares during the period. Wellington Management Group LLP boosted its stake in UMB Financial by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank's stock worth $366,743,000 after purchasing an additional 751,525 shares during the period. Dimensional Fund Advisors LP grew its holdings in UMB Financial by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,854,927 shares of the bank's stock valued at $328,439,000 after buying an additional 22,100 shares in the last quarter. Finally, 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. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

UMB Financial Company Profile

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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