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

UMB Financial Co. (NASDAQ:UMBF) shares saw unusually-high trading volume on Wednesday after the company announced better than expected quarterly earnings. Approximately 743,781 shares changed hands 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 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same period in the prior year, the firm posted $2.29 earnings per share.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Monday, March 10th. UMB Financial’s dividend payout ratio (DPR) is presently 20.00%.

Analyst Ratings Changes

UMBF has been the subject of several research analyst reports. Citigroup began coverage on UMB Financial in a research note on Thursday, October 10th. They set a “buy” rating and a $127.00 target price for the company. Piper Sandler boosted their price objective on UMB Financial from $142.00 to $143.00 and gave the stock an “overweight” rating in a report on Thursday. Wells Fargo & Company upped their price objective on UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Barclays boosted their target price on shares of UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $128.00 price objective on shares of UMB Financial in a report on Thursday. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.63.

Insider Buying and Selling at UMB Financial

In related news, insider Robert Brian Beaird sold 854 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total transaction of $105,366.52. Following the sale, the insider now owns 5,828 shares of the company’s stock, valued at $719,058.64. This trade represents a 12.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO J Mariner Kemper sold 24,300 shares of UMB Financial stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $124.95, for a total value of $3,036,285.00. Following the sale, the chief executive officer now directly owns 1,552,304 shares in the company, valued at $193,960,384.80. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cerity Partners LLC increased its stake in shares of UMB Financial by 767.4% in the third quarter. Cerity Partners LLC now owns 21,269 shares of the bank’s stock valued at $2,236,000 after buying an additional 18,817 shares during the period. Principal Financial Group Inc. boosted its holdings in UMB Financial by 403.7% in the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock valued at $91,114,000 after acquiring an additional 694,751 shares during the last quarter. King Luther Capital Management Corp increased its position in UMB Financial by 229.6% during the 3rd quarter. King Luther Capital Management Corp now owns 47,116 shares of the bank’s stock valued at $4,952,000 after purchasing an additional 32,820 shares during the period. Natixis Advisors LLC raised its holdings in UMB Financial by 51.2% during the 3rd quarter. Natixis Advisors LLC now owns 28,935 shares of the bank’s stock worth $3,041,000 after purchasing an additional 9,803 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of UMB Financial by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,114,251 shares of the bank’s stock worth $117,139,000 after purchasing an additional 21,091 shares during the period. 87.78% of the stock is owned by institutional investors and hedge funds.

UMB Financial Stock 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 stock’s 50 day moving average price is $119.10 and its 200 day moving average price is $109.58. The company has a market capitalization of $5.87 billion, a P/E ratio of 15.04 and a beta of 0.82.

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.