UMB Financial (NASDAQ:UMBF) Reaches New 52-Week High - Here's What Happened

Key Points

• UMB Financial shares hit a new 52-week high, trading as high as $147.36 after closing at $145.31 the previous day. Trading volume was relatively light at 13,014 shares.
• Analyst sentiment remains broadly positive, with multiple firms raising price targets and the stock carrying a consensus rating of “Moderate Buy.” The average target price is $152.17, with Stephens, Morgan Stanley, Hovde, and Truist all recently issuing upbeat views.
• The company delivered strong recent earnings and pays a dividend, reporting $3.41 EPS versus the $2.82 estimate and revenue of $739.16 million, up 31.1% year over year. UMB Financial also paid a quarterly dividend of $0.43 per share, equal to a 1.2% annual yield.

UMB Financial Corporation (NASDAQ:UMBF - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $147.36 and last traded at $147.3980, with a volume of 13014 shares. The stock had previously closed at $145.31.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on UMBF shares. Stephens began coverage on shares of UMB Financial in a report on Tuesday. They issued an "overweight" rating and a $167.00 price objective for the company. Morgan Stanley boosted their target price on shares of UMB Financial from $143.00 to $159.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Zacks Research downgraded shares of UMB Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Hovde Group lifted their price target on shares of UMB Financial from $145.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Finally, Truist Financial boosted their price objective on shares of UMB Financial from $140.00 to $161.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $152.17.

UMB Financial Stock Performance

The stock has a 50 day moving average of $135.07 and a 200 day moving average of $125.72. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 0.79 and a beta of 0.77. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.59. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. The business had revenue of $739.16 million during the quarter, compared to the consensus estimate of $701.79 million. During the same quarter in the prior year, the firm posted $2.58 EPS. The company's revenue for the quarter was up 31.1% compared to the same quarter last year. As a group, analysts predict that UMB Financial Corporation will post 12.85 EPS for the current year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th were given a dividend of $0.43 per share. The ex-dividend date was Wednesday, June 10th. This represents a $1.72 annualized dividend and a dividend yield of 1.2%. UMB Financial's dividend payout ratio is 15.26%.

Insiders Place Their Bets

In related news, President James D. Rine sold 8,246 shares of the business's stock in a transaction 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 transaction, the president owned 61,446 shares in the company, valued at $8,147,125.14. The trade was a 11.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin Charles Gallagher sold 381 shares of the company'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 directly owned 12,223 shares in the company, valued at $1,624,192.24. This trade represents a 3.02% decrease in their position. The SEC filing for this sale provides additional information. 5.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On UMB Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in UMB Financial by 28.2% in the first quarter. Royal Bank of Canada now owns 42,829 shares of the bank's stock worth $4,329,000 after purchasing an additional 9,417 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of UMB Financial by 47.0% during the 1st quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank's stock worth $570,000 after buying an additional 1,803 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of UMB Financial by 65.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 207,881 shares of the bank's stock worth $21,017,000 after buying an additional 82,083 shares in the last quarter. Jane Street Group LLC grew its position in shares of UMB Financial by 161.7% during the 1st quarter. Jane Street Group LLC now owns 49,877 shares of the bank's stock worth $5,043,000 after buying an additional 30,820 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of UMB Financial by 6.8% during the 2nd quarter. Cetera Investment Advisers now owns 4,232 shares of the bank's stock worth $445,000 after buying an additional 269 shares during the period. Institutional investors own 87.78% of the company's stock.

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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