UMB Financial (NASDAQ:UMBF) Reaches New 12-Month High Following Insider Buying Activity

UMB Financial Co. (NASDAQ:UMBF) hit a new 52-week high during mid-day trading on Wednesday following insider buying activity. The stock traded as high as $123.07 and last traded at $122.67, with a volume of 2352 shares trading hands. The stock had previously closed at $111.04.

Specifically, Director Greg M. Graves acquired 258 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $109.29 per share, for a total transaction of $28,196.82. Following the completion of the purchase, the director now directly owns 36,244 shares in the company, valued at $3,961,106.76. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on UMBF. Wells Fargo & Company upped their target price on UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Piper Sandler upped 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. Barclays raised their target price on UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Citigroup assumed coverage on shares of UMB Financial in a research report on Thursday, October 10th. They set a “buy” rating and a $127.00 price target for the company. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, UMB Financial has a consensus rating of “Moderate Buy” and an average target price of $115.00.

UMB Financial Stock Up 10.6 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a 50 day simple moving average of $105.41 and a two-hundred day simple moving average of $93.71. The stock has a market cap of $5.99 billion, a P/E ratio of 13.88 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.05. The business had revenue of $716.44 million during the quarter, compared to the consensus estimate of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same quarter in the prior year, the company posted $2.02 earnings per share. Equities research analysts predict that UMB Financial Co. will post 9.33 earnings per share for the current year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Tuesday, December 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s dividend payout ratio (DPR) is currently 19.50%.

Institutional Investors Weigh In On UMB Financial

A number of institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in shares of UMB Financial by 31.0% in the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after buying an additional 102 shares during the period. CWM LLC boosted its position in shares of UMB Financial by 7.1% during the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock valued at $162,000 after purchasing an additional 129 shares in the last quarter. Truist Financial Corp grew its stake in shares of UMB Financial by 3.3% in the 2nd 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. The Manufacturers Life Insurance Company lifted its stake in UMB Financial by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock valued at $4,496,000 after purchasing an additional 200 shares during the last quarter. Finally, Great Lakes Advisors LLC boosted its holdings in UMB Financial by 0.4% during the second quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank’s stock worth $4,913,000 after buying an additional 210 shares in the last quarter. 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.