UMB Financial (NASDAQ:UMBF) Shares Gap Up Following Dividend Announcement

UMB Financial Co. (NASDAQ:UMBF) shares gapped up prior to trading on Tuesday after the company announced a dividend. The stock had previously closed at $77.75, but opened at $80.00. UMB Financial shares last traded at $80.55, with a volume of 242,892 shares.

The newly announced dividend which will be paid on Monday, July 1st. Investors of record on Monday, June 10th will be paid a $0.39 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.56 annualized dividend and a yield of 1.95%. UMB Financial’s payout ratio is 20.72%.

Wall Street Analyst Weigh In

UMBF has been the subject of several recent research reports. Wells Fargo & Company raised their price objective on UMB Financial from $88.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday. StockNews.com raised shares of UMB Financial from a “sell” rating to a “hold” rating in a research report on Saturday, March 16th. Raymond James boosted their price objective on shares of UMB Financial from $80.00 to $102.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 1st. Barclays upgraded shares of UMB Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $91.00 to $95.00 in a report on Tuesday. Finally, Piper Sandler boosted their price target on UMB Financial from $87.50 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

UMB Financial Stock Performance

The company has a market cap of $3.89 billion, a PE ratio of 10.60 and a beta of 0.83. The business’s fifty day moving average is $81.80 and its 200-day moving average is $77.97. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.12.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Wednesday, January 31st. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.53. UMB Financial had a return on equity of 14.59% and a net margin of 14.59%. The firm had revenue of $370.80 million for the quarter, compared to the consensus estimate of $360.69 million. During the same quarter in the previous year, the company posted $2.06 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts predict that UMB Financial Co. will post 7.41 EPS for the current fiscal year.

Insider Activity at UMB Financial

In related news, insider Abigail M. Wendel sold 1,182 shares of UMB Financial stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $80.70, for a total transaction of $95,387.40. Following the completion of the sale, the insider now owns 15,217 shares in the company, valued at approximately $1,228,011.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Abigail M. Wendel sold 1,182 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $80.70, for a total transaction of $95,387.40. Following the transaction, the insider now owns 15,217 shares of the company’s stock, valued at approximately $1,228,011.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO J Mariner Kemper sold 11,170 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $85.28, for a total transaction of $952,577.60. Following the transaction, the chief executive officer now directly owns 1,738,604 shares in the company, valued at approximately $148,268,149.12. 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 quarter. 8.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On UMB Financial

Several institutional investors have recently added to or reduced their stakes in UMBF. Bank of New York Mellon Corp lifted its stake in shares of UMB Financial by 5.4% during the third quarter. Bank of New York Mellon Corp now owns 931,648 shares of the bank’s stock worth $57,809,000 after buying an additional 47,349 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of UMB Financial by 12.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,283 shares of the bank’s stock valued at $576,000 after buying an additional 1,034 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in UMB Financial by 0.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,818,361 shares of the bank’s stock valued at $112,829,000 after acquiring an additional 4,617 shares during the period. AlphaMark Advisors LLC purchased a new position in shares of UMB Financial during the 3rd quarter valued at approximately $234,000. Finally, WealthPlan Investment Management LLC increased its holdings in UMB Financial by 55,857.6% in the third quarter. WealthPlan Investment Management LLC now owns 77,781 shares of the bank’s stock valued at $4,826,000 after buying an additional 77,642 shares in 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.