UMB Financial (NASDAQ:UMBF) Sees Large Volume Increase on Better-Than-Expected Earnings

UMB Financial Co. (NASDAQ:UMBF) 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 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $2.29 EPS.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.31%. UMB Financial’s payout ratio is currently 20.00%.

Analyst Ratings Changes

A number of analysts have issued reports on UMBF shares. StockNews.com raised UMB Financial from a “sell” rating to a “hold” rating in a report on Wednesday. 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 target price for the company. Citigroup started coverage on UMB Financial in a report on Thursday, October 10th. They issued a “buy” rating and a $127.00 price target for the company. Morgan Stanley started coverage on shares of UMB Financial in a report on Thursday, November 21st. They set an “overweight” rating and a $156.00 price objective on the stock. Finally, Barclays upped their target price on shares of UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.00.

Insider Activity

In related news, CEO J Mariner Kemper sold 24,300 shares of the firm’s 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 transaction, the chief executive officer now owns 1,576,604 shares of the company’s stock, valued at $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 SEC, which is available through this link. Also, Director Greg M. Graves acquired 258 shares of UMB Financial stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $109.29 per share, with a total value of $28,196.82. Following the completion of the purchase, the director now owns 36,244 shares in the company, valued at $3,961,106.76. The trade was a 0.72 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 50,303 shares of company stock valued at $5,879,967. 8.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UMB Financial

Institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in shares of UMB Financial during the 3rd quarter worth approximately $26,000. Covestor Ltd grew its holdings in UMB Financial by 31.0% during the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after acquiring an additional 102 shares during the period. USA Financial Formulas raised its position in UMB Financial by 124.7% in the fourth quarter. USA Financial Formulas now owns 483 shares of the bank’s stock worth $55,000 after acquiring an additional 268 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in UMB Financial in the third quarter valued at $83,000. Finally, R Squared Ltd acquired a new stake in UMB Financial in the fourth quarter valued at $117,000. 87.78% of the stock is owned by institutional investors and hedge funds.

UMB Financial Stock Up 0.8 %

The firm’s 50-day simple moving average is $119.06 and its 200 day simple moving average is $109.49. 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 company has a market capitalization of $5.98 billion, a PE ratio of 15.32 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.