Key Points
- Director Greg Graves purchased 573 UMB Financial shares at an average price of $139.60, investing approximately $79,991 and increasing his stake by 1.44% to 40,463 shares.
- UMB Financial reported quarterly earnings of $3.57 per share and revenue of $778 million, exceeding analyst estimates of $3.12 and $727.63 million, respectively.
- The company raised its quarterly dividend from $0.43 to $0.50 per share, implying an annualized dividend of $2.00 and a 1.4% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $166.54.
UMB Financial Corporation (NASDAQ:UMBF - Get Free Report) Director Tamara Peterman bought 394 shares of the business's stock in a transaction on Tuesday, September 1st. The shares were acquired at an average price of $139.60 per share, for a total transaction of $55,002.40. Following the completion of the transaction, the director owned 10,680 shares in the company, valued at approximately $1,490,928. This trade represents a 3.83% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
UMB Financial Stock Up 1.1%
Shares of NASDAQ UMBF opened at $143.44 on Friday. UMB Financial Corporation has a 1 year low of $68.92 and a 1 year high of $144.21. The firm's 50-day moving average is $144.93 and its 200-day moving average is $131.13. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $10.89 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 0.69 and a beta of 0.77.
UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, topping analysts' consensus estimates of $3.12 by $0.45. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. The business had revenue of $778.00 million during the quarter, compared to the consensus estimate of $727.63 million. During the same period in the previous year, the firm posted $2.96 earnings per share. Equities analysts expect that UMB Financial Corporation will post 13.5 EPS for the current year.
UMB Financial Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 10th. 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%. UMB Financial's payout ratio is currently 14.32%.
Hedge Funds Weigh In On UMB Financial
Several institutional investors and hedge funds have recently modified their holdings of the business. Corient Private Wealth LP acquired a new stake in UMB Financial during the 2nd quarter worth approximately $221,000. Amundi boosted its holdings in shares of UMB Financial by 14.7% in the second quarter. Amundi now owns 4,620 shares of the bank's stock valued at $660,000 after buying an additional 593 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of UMB Financial in the second quarter valued at approximately $685,000. California State Teachers Retirement System increased its position in shares of UMB Financial by 13,612.7% during the second quarter. California State Teachers Retirement System now owns 11,954,437 shares of the bank's stock worth $1,706,615,000 after acquiring an additional 11,867,259 shares in the last quarter. Finally, HB Wealth Management LLC bought a new stake in shares of UMB Financial during the second quarter worth $248,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Piper Sandler reiterated an "overweight" rating and issued a $181.00 price target (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. Truist Financial set a $170.00 target price on shares of UMB Financial and gave the company a "buy" rating in a research note on Tuesday, August 4th. Morgan Stanley increased 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. Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 price target (up from $168.00) on shares of UMB Financial in a research report on Thursday, July 30th. Finally, Citigroup restated a "neutral" rating and issued a $162.00 price objective (up from $144.00) on shares of UMB Financial in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $166.54.
Check Out Our Latest Report on UMBF
About UMB Financial
(
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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