UMB Financial (NASDAQ:UMBF) Reaches New 1-Year High After Insider Buying Activity

UMB Financial Co. (NASDAQ:UMBF)’s share price hit a new 52-week high during trading on Wednesday following insider buying activity. The company traded as high as $123.07 and last traded at $122.67, with a volume of 2352 shares. 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 stock was purchased at an average price of $109.29 per share, for a total transaction of $28,196.82. Following the transaction, the director now owns 36,244 shares in the company, valued at $3,961,106.76. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Wall Street Analyst Weigh In

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

UMB Financial Price Performance

The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 13.88 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 has a 50 day simple moving average of $105.41 and a 200 day simple moving average of $93.71.

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

UMB Financial Increases Dividend

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

Institutional Trading of UMB Financial

Several large investors have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in UMB Financial during the 3rd quarter valued at approximately $26,000. Covestor Ltd increased its stake in shares of UMB Financial by 31.0% in the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after buying an additional 102 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in UMB Financial in the second quarter valued at $128,000. CWM LLC grew its holdings in UMB Financial by 7.1% during the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after acquiring an additional 129 shares in the last quarter. Finally, Heritage Family Offices LLP bought a new stake in shares of UMB Financial in the 3rd quarter worth about $203,000. Institutional investors and hedge funds 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.