UMB Financial (NASDAQ:UMBF) Sets New 12-Month High - Should You Buy?

Key Points

• UMB Financial shares hit a new 52-week high, trading as high as $137.17 and ending near $137.48, extending a recent rally.
• Recent earnings were strong, with the bank posting $3.41 EPS versus the $2.82 estimate and revenue of $739.16 million, up 31.1% year over year.
• Analysts remain generally positive, with an average Buy rating and a consensus price target of $145.55, while the company also announced a quarterly dividend of $0.43 per share.

Shares of UMB Financial Corporation (NASDAQ:UMBF - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $137.17 and last traded at $137.4780, with a volume of 15381 shares traded. The stock had previously closed at $135.37.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UMBF. Morgan Stanley reduced their price objective on shares of UMB Financial from $156.00 to $143.00 and set an "overweight" rating for the company in a research report on Tuesday, March 31st. Piper Sandler raised their price objective on shares of UMB Financial from $152.00 to $155.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Hovde Group raised their price objective on shares of UMB Financial from $145.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Barclays raised their price objective on shares of UMB Financial from $160.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada raised their price objective on shares of UMB Financial from $138.00 to $142.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $145.55.

UMB Financial Trading Up 0.2%

The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 0.92 and a beta of 0.78. The firm's 50-day moving average is $126.33 and its 200-day moving average is $121.70.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.59. The firm had revenue of $739.16 million for the quarter, compared to the consensus estimate of $701.79 million. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. The business's revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.58 EPS. As a group, sell-side analysts anticipate that UMB Financial Corporation will post 12.8 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, June 10th. UMB Financial's payout ratio is currently 15.26%.

Insiders Place Their Bets

In other UMB Financial news, President James D. Rine sold 8,246 shares of UMB Financial stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the transaction, the president directly owned 61,446 shares of the company's stock, valued at $8,147,125.14. The trade was a 11.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Charles Gallagher sold 381 shares of UMB Financial stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total value 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. 5.33% of the stock is owned by insiders.

Institutional Investors Weigh In On UMB Financial

A number of hedge funds have recently made changes to their positions in the business. MBM Wealth Consultants LLC purchased a new position in shares of UMB Financial during the first quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new position in UMB Financial during the fourth quarter valued at $27,000. Axiom Investment Management LLC bought a new position in shares of UMB Financial during the first quarter valued at $28,000. Hilton Head Capital Partners LLC bought a new position in shares of UMB Financial during the fourth quarter valued at $34,000. Finally, Torren Management LLC bought a new position in shares of UMB Financial during the fourth quarter valued at $37,000. 87.78% of the stock is currently owned by 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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