UMB Financial Co. (NASDAQ:UMBF) Declares Dividend Increase - $0.40 Per Share

UMB Financial Co. (NASDAQ:UMBF - Get Free Report) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Shareholders of record on Tuesday, December 10th will be given a dividend of 0.40 per share by the bank on Thursday, January 2nd. This represents a $1.60 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, December 10th. This is a boost from UMB Financial's previous quarterly dividend of $0.39.

UMB Financial has increased its dividend payment by an average of 7.0% per year over the last three years and has increased its dividend annually for the last 31 consecutive years. UMB Financial has a dividend payout ratio of 17.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect UMB Financial to earn $9.15 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 17.0%.

UMB Financial Stock Performance

Shares of NASDAQ UMBF traded down $1.41 during trading hours on Thursday, hitting $109.73. 483,294 shares of the stock were exchanged, compared to its average volume of 360,590. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.73 and a quick ratio of 0.73. The company's 50 day moving average is $104.82 and its 200 day moving average is $92.80. The firm has a market capitalization of $5.35 billion, a P/E ratio of 13.72 and a beta of 0.78. UMB Financial has a one year low of $61.99 and a one year high of $113.56.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.09. The business had revenue of $716.44 million during the quarter, compared to the consensus estimate of $398.83 million. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. During the same period in the prior year, the firm earned $2.02 EPS. On average, research analysts expect that UMB Financial will post 8.98 EPS for the current year.

Insider Buying and Selling at UMB Financial

In other news, EVP Amy Harris sold 736 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $95.05, for a total value of $69,956.80. Following the completion of the transaction, the executive vice president now owns 2,899 shares in the company, valued at approximately $275,549.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Robert Brian Beaird sold 698 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $93.19, for a total value of $65,046.62. Following the completion of the transaction, the insider now owns 6,682 shares in the company, valued at approximately $622,695.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Amy Harris sold 736 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $95.05, for a total transaction of $69,956.80. Following the completion of the transaction, the executive vice president now owns 2,899 shares of the company's stock, valued at approximately $275,549.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,596 shares of company stock valued at $4,224,884 in the last ninety days. Company insiders own 8.85% of the company's stock.

Wall Street Analyst Weigh In

UMBF has been the subject of several recent analyst reports. Barclays upped their price objective on shares of UMB Financial from $118.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday. Citigroup began coverage on shares of UMB Financial in a report on Thursday, October 10th. They set a "buy" rating and a $127.00 price objective for the company. Piper Sandler increased their price target on shares of UMB Financial from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their price target on shares of UMB Financial from $107.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday. 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, UMB Financial currently has an average rating of "Moderate Buy" and a consensus target price of $115.00.

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.