UMB Financial Corporation (NASDAQ:UMBF – Get Free Report)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $150.00 and last traded at $149.4510, with a volume of 213711 shares. The stock had previously closed at $147.04.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on UMBF shares. Truist Financial set a $170.00 target price on UMB Financial and gave the stock a “buy” rating in a research note on Tuesday. Citigroup reaffirmed a “neutral” rating and set a $162.00 price objective (up from $144.00) on shares of UMB Financial in a research report on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of UMB Financial in a research report on Friday, July 24th. Barclays restated an “overweight” rating and issued a $175.00 price target (up from $170.00) on shares of UMB Financial in a report on Monday. Finally, Wells Fargo & Company upped their price objective on shares of UMB Financial from $130.00 to $139.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $162.00.
Check Out Our Latest Stock Report on UMBF
UMB Financial Price Performance
UMB Financial shares are scheduled to split on Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly issued shares will be distributed to shareholders after the market closes on Monday, August 31st.
UMB Financial (NASDAQ:UMBF – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.45. The firm had revenue of $778.00 million for the quarter, compared to the consensus estimate of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same quarter in the prior year, the company posted $2.96 earnings per share. As a group, research analysts anticipate that UMB Financial Corporation will post 13.48 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. Stockholders of record on Thursday, September 10th will be issued a $0.50 dividend. This is a boost from UMB Financial’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 10th. UMB Financial’s dividend payout ratio is 14.32%.
Insiders Place Their Bets
In other UMB Financial news, insider Robert Brian Beaird sold 1,600 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $144.40, for a total transaction of $231,040.00. Following the transaction, the insider directly owned 8,943 shares in the company, valued at approximately $1,291,369.20. This trade represents a 15.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J Mariner Kemper sold 4,200 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $147.27, for a total transaction of $618,534.00. Following the completion of the sale, the chief executive officer owned 5,561 shares of the company’s stock, valued at approximately $818,968.47. The trade was a 43.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 17,587 shares of company stock worth $2,460,585 in the last three months. 5.33% of the stock is owned by corporate insiders.
Institutional Trading of UMB Financial
Several hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in UMB Financial by 11.4% in the fourth quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank’s stock valued at $553,322,000 after purchasing an additional 493,875 shares during the last quarter. State Street Corp lifted its holdings in UMB Financial by 7.9% during the second quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock valued at $453,461,000 after purchasing an additional 313,414 shares during the last quarter. Wellington Management Group LLP boosted its position in UMB Financial by 32.0% during the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock worth $366,743,000 after purchasing an additional 751,525 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of UMB Financial by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank’s stock worth $328,200,000 after purchasing an additional 55,005 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of UMB Financial by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,907,978 shares of the bank’s stock valued at $219,529,000 after buying an additional 33,078 shares in the last quarter. Institutional investors own 87.78% of the company’s stock.
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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