UMB Financial (NASDAQ:UMBF) Sees Strong Trading Volume Following Strong Earnings

UMB Financial Co. (NASDAQ:UMBF) shares saw strong trading volume on Wednesday following a stronger than expected earnings report. 743,781 shares were traded during trading, an increase of 40% from the previous session’s volume of 532,430 shares.The stock last traded at $122.63 and had previously closed at $121.62.

The bank reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same period last year, the company earned $2.29 EPS.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on UMBF shares. Royal Bank of Canada started coverage on UMB Financial in a research note on Friday, November 22nd. They set a “sector perform” rating and a $130.00 price target on the stock. Morgan Stanley started coverage on UMB Financial in a research note on Thursday, November 21st. They set an “overweight” rating and a $156.00 price target on the stock. StockNews.com lowered UMB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, January 14th. Citigroup started coverage on UMB Financial in a research note on Thursday, October 10th. They set a “buy” rating and a $127.00 price target on the stock. Finally, Barclays upped their price target on UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $124.00.

Insiders Place Their Bets

In related news, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $108.83, for a total transaction of $2,644,569.00. Following the completion of the transaction, the chief executive officer now directly owns 1,576,604 shares in the company, valued at approximately $171,581,813.32. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greg M. Graves acquired 258 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $109.29 per share, with a total value of $28,196.82. Following the completion of the acquisition, the director now owns 36,244 shares of the company’s stock, valued at $3,961,106.76. This represents a 0.72 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 50,303 shares of company stock worth $5,879,967 over the last ninety days. 8.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of UMB Financial during the third quarter worth about $26,000. Covestor Ltd grew its stake in 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 purchasing an additional 102 shares in the last quarter. USA Financial Formulas grew its stake in UMB Financial by 124.7% in the fourth quarter. USA Financial Formulas now owns 483 shares of the bank’s stock valued at $55,000 after purchasing an additional 268 shares in the last quarter. Point72 Asset Management L.P. bought a new position in UMB Financial in the third quarter valued at approximately $83,000. Finally, R Squared Ltd bought a new position in UMB Financial in the fourth quarter valued at approximately $117,000. 87.78% of the stock is currently owned by institutional investors.

UMB Financial Stock Performance

The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $119.06 and a two-hundred day simple moving average of $109.49. The stock has a market capitalization of $5.98 billion, a P/E ratio of 15.34 and a beta of 0.82.

UMB Financial Company Profile

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.