UMB Financial (NASDAQ:UMBF) Shares Gap Down to $83.17

UMB Financial Co. (NASDAQ:UMBF)’s share price gapped down prior to trading on Monday . The stock had previously closed at $83.17, but opened at $76.28. UMB Financial shares last traded at $78.26, with a volume of 307,352 shares traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on UMBF. Barclays started coverage on shares of UMB Financial in a research note on Friday, March 8th. They set an “equal weight” rating and a $91.00 target price for the company. Wells Fargo & Company upped their price target on shares of UMB Financial from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. StockNews.com upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, March 16th. Raymond James upped their target price on shares of UMB Financial from $80.00 to $102.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 1st. Finally, Piper Sandler lifted their price objective on UMB Financial from $87.50 to $99.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.00.

UMB Financial Stock Performance

The company has a market capitalization of $3.89 billion, a PE ratio of 10.98 and a beta of 0.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $81.92 and its 200-day simple moving average is $77.72.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Wednesday, January 31st. The bank reported $2.29 EPS for the quarter, topping the consensus estimate of $1.76 by $0.53. UMB Financial had a net margin of 14.70% and a return on equity of 13.75%. The company had revenue of $370.80 million during the quarter, compared to analyst estimates of $360.69 million. During the same quarter in the previous year, the firm earned $2.06 EPS. The firm’s revenue was up .0% compared to the same quarter last year. On average, research analysts predict that UMB Financial Co. will post 7.41 earnings per share for the current year.

UMB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Friday, March 8th. UMB Financial’s payout ratio is currently 21.73%.

Insider Activity at UMB Financial

In related news, Director Kevin Charles Gallagher sold 625 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $80.21, for a total value of $50,131.25. Following the completion of the sale, the director now owns 12,859 shares in the company, valued at $1,031,420.39. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP John Pauls sold 1,440 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $79.51, for a total transaction of $114,494.40. Following the transaction, the executive vice president now directly owns 8,496 shares of the company’s stock, valued at $675,516.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kevin Charles Gallagher sold 625 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $80.21, for a total value of $50,131.25. Following the completion of the transaction, the director now directly owns 12,859 shares of the company’s stock, valued at approximately $1,031,420.39. The disclosure for this sale can be found here. Insiders sold a total of 27,277 shares of company stock worth $2,264,661 in the last 90 days. 8.85% of the stock is owned by insiders.

Institutional Investors Weigh In On UMB Financial

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in UMB Financial by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,310,807 shares of the bank’s stock worth $360,168,000 after buying an additional 44,150 shares during the period. Wellington Management Group LLP raised its holdings in shares of UMB Financial by 73.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,586,701 shares of the bank’s stock worth $160,505,000 after buying an additional 1,095,630 shares in the last quarter. Victory Capital Management Inc. grew its stake in UMB Financial by 15.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,997,303 shares of the bank’s stock worth $166,875,000 after buying an additional 265,399 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of UMB Financial by 3.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,905,072 shares of the bank’s stock worth $165,722,000 after purchasing an additional 63,022 shares during the last quarter. Finally, American Century Companies Inc. raised its position in UMB Financial by 4.3% in the 3rd quarter. American Century Companies Inc. now owns 1,817,350 shares of the bank’s stock worth $112,767,000 after purchasing an additional 75,140 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

About UMB Financial

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.