UMB Financial (NASDAQ:UMBF) Sets New 12-Month High on Insider Buying Activity

UMB Financial Co. (NASDAQ:UMBF) reached a new 52-week high during mid-day trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $123.07 and last traded at $122.67, with a volume of 2352 shares traded. The stock had previously closed at $111.04.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Piper Sandler raised their price objective on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Citigroup assumed coverage on UMB Financial in a research note on Thursday, October 10th. They issued a “buy” rating and a $127.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, Barclays upped their price target on shares of UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $115.00.

UMB Financial Price Performance

The stock has a market cap of $5.94 billion, a PE ratio of 15.21 and a beta of 0.78. 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 company’s fifty day moving average is $106.25 and its 200 day moving average is $94.13.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.05. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. The business had revenue of $716.44 million for the quarter, compared to the consensus estimate of $398.83 million. During the same quarter last year, the firm posted $2.02 EPS. As a group, sell-side analysts anticipate that UMB Financial Co. will post 9.33 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a $0.40 dividend. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date is Tuesday, December 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.31%. UMB Financial’s dividend payout ratio is presently 19.50%.

Hedge Funds Weigh In On UMB Financial

A number of institutional investors and hedge funds have recently bought and sold shares of UMBF. Principal Financial Group Inc. raised its stake in shares of UMB Financial by 403.7% during the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock valued at $91,114,000 after purchasing an additional 694,751 shares during the period. Millennium Management LLC raised its holdings in shares of UMB Financial by 567.1% during the second quarter. Millennium Management LLC now owns 733,734 shares of the bank’s stock worth $61,208,000 after purchasing an additional 623,751 shares during the period. Vanguard Group Inc. lifted its position in shares of UMB Financial by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock worth $409,321,000 after buying an additional 394,578 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of UMB Financial by 102.7% in the 2nd quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock worth $62,780,000 after buying an additional 381,278 shares during the last quarter. Finally, Emerald Advisers LLC acquired a new position in shares of UMB Financial in the 3rd quarter valued at about $12,867,000. Hedge funds and other institutional investors own 87.78% of the company’s stock.

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.