UMB Financial (NASDAQ:UMBF) Reaches New 52-Week High – Still a Buy?

UMB Financial Co. (NASDAQ:UMBF)’s share price hit a new 52-week high on Friday . The stock traded as high as $109.52 and last traded at $109.52, with a volume of 58632 shares trading hands. The stock had previously closed at $105.53.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on UMBF shares. Wells Fargo & Company lifted their price target on UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Barclays lifted their price target on UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Citigroup started coverage on UMB Financial in a research note on Thursday. They set a “buy” rating and a $127.00 price objective for the company. Finally, Piper Sandler boosted their price objective on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, UMB Financial has an average rating of “Moderate Buy” and an average price target of $105.86.

UMB Financial Trading Up 3.3 %

The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 14.06 and a beta of 0.78. The company has a fifty day moving average price of $101.33 and a two-hundred day moving average price of $90.51. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.12.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, July 30th. The bank reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.15. The business had revenue of $390.03 million for the quarter, compared to analysts’ expectations of $384.96 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.93 EPS. As a group, research analysts forecast that UMB Financial Co. will post 8.98 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Tuesday, September 10th. UMB Financial’s dividend payout ratio is currently 20.13%.

Insider Activity at UMB Financial

In related news, insider Robert Brian Beaird sold 698 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $93.19, for a total value of $65,046.62. Following the transaction, the insider now directly owns 6,682 shares in the company, valued at approximately $622,695.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Robert Brian Beaird sold 698 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $93.19, for a total value of $65,046.62. Following the transaction, the insider now directly owns 6,682 shares in the company, valued at approximately $622,695.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kris A. Robbins sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the sale, the director now directly owns 3,211 shares in the company, valued at approximately $329,127.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,596 shares of company stock worth $4,224,884. Insiders own 8.85% of the company’s stock.

Institutional Trading of UMB Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of UMBF. CWM LLC grew its holdings in shares of UMB Financial by 29.3% during the third quarter. CWM LLC now owns 2,510 shares of the bank’s stock worth $264,000 after purchasing an additional 569 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of UMB Financial by 69.5% during the third quarter. SG Americas Securities LLC now owns 2,478 shares of the bank’s stock worth $260,000 after purchasing an additional 1,016 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of UMB Financial during the second quarter worth about $3,253,000. Truist Financial Corp grew its holdings in shares of UMB Financial by 3.3% during the second quarter. Truist Financial Corp now owns 4,238 shares of the bank’s stock worth $354,000 after purchasing an additional 136 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new position in shares of UMB Financial during the second quarter worth about $4,963,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

About UMB Financial

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.