UMB Financial (NASDAQ:UMBF) Reaches New 52-Week High on Earnings Beat

Shares of UMB Financial Co. (NASDAQ:UMBF - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $113.56 and last traded at $113.14, with a volume of 212328 shares traded. The stock had previously closed at $106.66.

The bank reported $2.25 EPS for the quarter, beating the consensus estimate of $2.16 by $0.09. The business had revenue of $716.44 million during the quarter, compared to analysts' expectations of $398.83 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. During the same quarter in the previous year, the business posted $2.02 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on UMBF shares. Barclays raised their target price on UMB Financial from $100.00 to $114.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. Piper Sandler raised their price objective on UMB Financial from $102.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Citigroup initiated coverage on UMB Financial in a research report on Thursday, October 10th. They set a "buy" rating and a $127.00 target price for the company. Finally, Wells Fargo & Company raised their target price on shares of UMB Financial from $90.00 to $107.00 and gave the company an "equal weight" rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, UMB Financial has an average rating of "Moderate Buy" and an average price target of $111.33.

Insider Buying and Selling

In other UMB Financial news, EVP John Pauls sold 1,623 shares of the firm's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $92.97, for a total value of $150,890.31. Following the sale, the executive vice president now directly owns 7,332 shares in the company, valued at $681,656.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO J Mariner Kemper sold 24,300 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total value of $2,473,983.00. Following the completion of the transaction, the chief executive officer now directly owns 1,600,904 shares in the company, valued at approximately $162,988,036.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Pauls sold 1,623 shares of UMB Financial stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $92.97, for a total transaction of $150,890.31. Following the sale, the executive vice president now owns 7,332 shares in the company, valued at $681,656.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,596 shares of company stock valued at $4,224,884. 8.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On UMB Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new position in UMB Financial in the third quarter worth about $26,000. 1620 Investment Advisors Inc. acquired a new position in shares of UMB Financial in the 2nd quarter worth approximately $128,000. Heritage Family Offices LLP bought a new position in shares of UMB Financial during the 3rd quarter worth approximately $203,000. CWM LLC boosted its stake in UMB Financial by 7.1% in the 2nd quarter. CWM LLC now owns 1,941 shares of the bank's stock valued at $162,000 after buying an additional 129 shares in the last quarter. Finally, Greenleaf Trust bought a new stake in UMB Financial in the third quarter valued at $233,000. 87.78% of the stock is owned by institutional investors.

UMB Financial Stock Up 5.4 %

The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 13.89 and a beta of 0.78. The firm has a 50 day simple moving average of $104.56 and a 200-day simple moving average of $92.67. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.73 and a quick ratio of 0.73.

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.

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