Key Points
- CEO J. Mariner Kemper sold 15,062 UMB Financial shares for approximately $2.24 million, reducing his direct ownership by 1%; he also sold 4,200 shares the previous day.
- UMB Financial reported quarterly earnings of $3.57 per share, beating estimates of $3.12, while revenue of $778 million exceeded expectations. The company also increased its quarterly dividend from $0.43 to $0.50 per share.
- The stock was trading near its 52-week high ahead of a planned 3-for-2 stock split on September 1. Analysts maintained a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $162.
UMB Financial Corporation (NASDAQ:UMBF - Get Free Report) CAO David Carl Odgers sold 145 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $147.30, for a total value of $21,358.50. Following the transaction, the chief accounting officer owned 6,538 shares of the company's stock, valued at $963,047.40. This trade represents a 2.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
UMB Financial Price Performance
Shares of UMBF stock opened at $145.13 on Friday. The stock's fifty day simple moving average is $139.90 and its 200 day simple moving average is $128.58. UMB Financial Corporation has a one year low of $103.38 and a one year high of $150.00. The firm has a market cap of $11.02 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 0.72 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76.
UMB Financial's stock is scheduled to split on Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly minted shares will be payable to shareholders after the closing bell on Monday, August 31st.
UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The company had revenue of $778.00 million during the quarter, compared to analysts' expectations of $727.63 million. During the same period last year, the business earned $2.96 earnings per share. On average, analysts expect that UMB Financial Corporation will post 13.48 earnings per share for the current fiscal year.
UMB Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.50 per share. This is a positive change from UMB Financial's previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. UMB Financial's payout ratio is currently 16.65%.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Morgan Stanley boosted their target price on UMB Financial from $143.00 to $159.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Barclays reaffirmed an "overweight" rating and set a $175.00 price target (up from $170.00) on shares of UMB Financial in a report on Monday. Royal Bank Of Canada reiterated an "outperform" rating and issued a $170.00 price objective (up from $168.00) on shares of UMB Financial in a research report on Thursday, July 30th. Piper Sandler restated an "overweight" rating and issued a $181.00 target price (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Finally, Wells Fargo & Company lifted their price target on UMB Financial from $130.00 to $139.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, UMB Financial presently has a consensus rating of "Moderate Buy" and an average target price of $162.00.
Read Our Latest Stock Analysis on UMBF
Institutional Trading of UMB Financial
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in UMB Financial in the 2nd quarter worth approximately $38,000. OneDigital Investment Advisors LLC bought a new position in UMB Financial in the 2nd quarter valued at $395,000. N.E.W. Advisory Services LLC acquired a new stake in shares of UMB Financial in the 2nd quarter valued at $545,000. Global Retirement Partners LLC acquired a new stake in shares of UMB Financial in the 2nd quarter valued at $325,000. Finally, 1ST Source Bank bought a new stake in shares of UMB Financial during the second quarter worth $232,000. Institutional investors and hedge funds own 87.78% of the company's stock.
UMB Financial Company Profile
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Get Free Report)
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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