UMB Financial (NASDAQ:UMBF) Announces Quarterly Earnings Results

UMB Financial (NASDAQ:UMBF) announced its quarterly earnings data on Tuesday. The bank reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.15, Briefing.com reports. The business had revenue of $390.03 million during the quarter, compared to analysts’ expectations of $384.96 million. UMB Financial had a return on equity of 14.47% and a net margin of 14.55%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.93 EPS.

UMB Financial Stock Down 4.2 %

UMBF stock traded down $4.25 during trading on Thursday, hitting $97.77. 729,788 shares of the company’s stock were exchanged, compared to its average volume of 356,735. The business has a 50-day moving average price of $85.87 and a two-hundred day moving average price of $83.28. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 12.89 and a beta of 0.80. UMB Financial has a 52-week low of $57.91 and a 52-week high of $105.21. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.12.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, September 10th. UMB Financial’s payout ratio is 20.72%.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $81.39, for a total value of $162,780.00. Following the completion of the sale, the chief executive officer now owns 1,698,104 shares in the company, valued at $138,208,684.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders sold 20,650 shares of company stock worth $1,723,425. 8.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on UMBF shares. Wells Fargo & Company lifted their price objective on UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday. Keefe, Bruyette & Woods upgraded UMB Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $93.00 to $98.00 in a research note on Friday, May 31st. Barclays lifted their price objective on UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Piper Sandler lifted their price objective on UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.33.

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.