UMB Financial (NASDAQ:UMBF) Releases Earnings Results, Beats Expectations By $0.45 EPS

UMB Financial (NASDAQ:UMBF) announced its earnings results on Tuesday. The bank reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $0.45, FiscalAI reports. UMB Financial had a net margin of 21.64% and a return on equity of 13.59%. The company had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $727.63 million. During the same quarter in the previous year, the business posted $2.96 earnings per share.

UMB Financial Stock Performance

UMB Financial stock opened at $149.34 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $11.35 billion, a PE ratio of 12.43, a P/E/G ratio of 0.79 and a beta of 0.77. UMB Financial has a 12-month low of $103.38 and a 12-month high of $149.63. The business’s 50-day moving average price is $138.15 and its two-hundred day moving average price is $127.50.

Shares of UMB Financial are going to split on the morning of Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly issued shares will be payable to shareholders after the closing bell on Monday, August 31st.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be given a $0.50 dividend. This is a boost from UMB Financial’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, September 10th. UMB Financial’s dividend payout ratio (DPR) is presently 15.26%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of UMB Financial from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays increased their price target on UMB Financial from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Truist Financial lifted their price objective on UMB Financial from $140.00 to $161.00 and gave the company a “buy” rating in a report on Friday, July 10th. Hovde Group increased their target price on UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company boosted their price target on UMB Financial from $130.00 to $139.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.42.

Insider Buying and Selling

In related news, Director Kevin Charles Gallagher sold 381 shares of UMB Financial stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $132.88, for a total transaction of $50,627.28. Following the sale, the director directly owned 12,223 shares of the company’s stock, valued at approximately $1,624,192.24. The trade was a 3.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President James D. Rine sold 8,246 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the transaction, the president owned 61,446 shares of the company’s stock, valued at approximately $8,147,125.14. This represents a 11.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of UMBF. Kemnay Advisory Services Inc. bought a new stake in UMB Financial during the 4th quarter worth $27,000. Global Retirement Partners LLC increased its stake in shares of UMB Financial by 419.2% in the fourth quarter. Global Retirement Partners LLC now owns 405 shares of the bank’s stock valued at $47,000 after buying an additional 327 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of UMB Financial by 193.5% in the second quarter. EverSource Wealth Advisors LLC now owns 405 shares of the bank’s stock valued at $43,000 after buying an additional 267 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in UMB Financial by 88.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 425 shares of the bank’s stock valued at $50,000 after buying an additional 199 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in UMB Financial in the 4th quarter valued at approximately $69,000. 87.78% of the stock is currently owned by institutional investors.

About UMB Financial

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.