UMB Financial (NASDAQ:UMBF) Reaches New 52-Week High – What’s Next?

UMB Financial Corporation (NASDAQ:UMBF) hit a new 52-week high on Tuesday . The company traded as high as $137.62 and last traded at $137.3650, with a volume of 40735 shares trading hands. The stock had previously closed at $136.94.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on UMBF. Barclays boosted their price objective on UMB Financial from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Piper Sandler boosted their price target on shares of UMB Financial from $152.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. TD Cowen increased their price target on shares of UMB Financial from $141.00 to $147.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Truist Financial set a $140.00 price objective on shares of UMB Financial in a research note on Friday, May 1st. Finally, Hovde Group lifted their price objective on shares of UMB Financial from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $145.55.

UMB Financial Stock Up 1.4%

The firm has a market cap of $10.75 billion, a PE ratio of 12.55, a PEG ratio of 0.95 and a beta of 0.78. 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 50 day moving average price of $129.19 and a 200-day moving average price of $123.00.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.59. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. The firm had revenue of $739.16 million for the quarter, compared to analysts’ expectations of $701.79 million. During the same quarter last year, the company earned $2.58 earnings per share. The firm’s revenue was up 31.1% compared to the same quarter last year. Research analysts forecast 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. Stockholders of record on Wednesday, June 10th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, June 10th. UMB Financial’s dividend payout ratio (DPR) is presently 15.26%.

Insider Buying and Selling at UMB Financial

In related news, Director Kevin Charles Gallagher sold 381 shares of the business’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 completion of the transaction, the director owned 12,223 shares in the company, valued at approximately $1,624,192.24. The trade was a 3.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President James D. Rine sold 8,246 shares of the 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 completion of the transaction, the president directly owned 61,446 shares in the company, valued at $8,147,125.14. This trade represents a 11.83% decrease in their position. The SEC filing for this sale provides additional information. 5.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in shares of UMB Financial by 7.5% during the first quarter. NewEdge Advisors LLC now owns 10,440 shares of the bank’s stock worth $1,178,000 after acquiring an additional 727 shares during the last quarter. Axiom Investment Management LLC purchased a new position in UMB Financial during the 1st quarter worth $28,000. CTC Alternative Strategies Ltd. purchased a new position in UMB Financial during the 1st quarter worth $259,000. Bank of America Corp DE increased its stake in UMB Financial by 7.0% in the first quarter. Bank of America Corp DE now owns 695,276 shares of the bank’s stock valued at $78,420,000 after purchasing an additional 45,547 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in UMB Financial in the first quarter valued at $7,404,000. Institutional investors and hedge funds 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.