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

Shares of UMB Financial Co. (NASDAQ:UMBF) saw unusually-high trading volume on Wednesday following a better than expected earnings announcement. Approximately 743,781 shares were traded during mid-day 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, beating 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 earned $2.29 earnings per share.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup assumed coverage on UMB Financial in a research note on Thursday, October 10th. They issued a “buy” rating and a $127.00 price objective for the company. StockNews.com downgraded UMB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, January 14th. Wells Fargo & Company increased their price objective on UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Barclays increased their price objective on UMB Financial from $123.00 to $139.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada initiated coverage on UMB Financial in a research report on Friday, November 22nd. They issued a “sector perform” rating and a $130.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

Insider Activity

In other UMB Financial news, CEO J Mariner Kemper sold 24,300 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $108.83, for a total value of $2,644,569.00. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert Brian Beaird sold 854 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $123.38, for a total value of $105,366.52. Following the completion of the sale, the insider now directly owns 5,828 shares in the company, valued at $719,058.64. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,303 shares of company stock valued at $5,879,967. Insiders own 8.85% of the company’s stock.

Institutional Trading of UMB Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UMBF. Covestor Ltd lifted its position in shares of UMB Financial by 31.0% in the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after acquiring an additional 102 shares during the period. Heritage Family Offices LLP lifted its position in shares of UMB Financial by 6.5% in the 4th quarter. Heritage Family Offices LLP now owns 2,059 shares of the bank’s stock worth $232,000 after acquiring an additional 125 shares during the period. Truist Financial Corp lifted its position 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 acquiring an additional 136 shares during the period. Commerce Bank lifted its position in shares of UMB Financial by 0.3% in the 3rd quarter. Commerce Bank now owns 41,708 shares of the bank’s stock worth $4,384,000 after acquiring an additional 142 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its position in shares of UMB Financial by 5.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 3,634 shares of the bank’s stock worth $410,000 after acquiring an additional 186 shares during the period. Institutional investors and hedge funds own 87.78% of the company’s stock.

UMB Financial Price Performance

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 cap of $5.98 billion, a P/E ratio of 15.34 and a beta of 0.82. The stock has a 50-day simple moving average of $119.06 and a 200 day simple moving average of $109.49.

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.