UMB Financial (NASDAQ:UMBF) Sets New 1-Year High on Insider Buying Activity

Shares of UMB Financial Co. (NASDAQ:UMBF - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday following insider buying activity. The company traded as high as $123.07 and last traded at $122.67, with a volume of 2352 shares trading hands. The stock had previously closed at $111.04.

Specifically, Director Greg M. Graves bought 258 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $109.29 per share, for a total transaction of $28,196.82. Following the acquisition, the director now owns 36,244 shares of the company's stock, valued at approximately $3,961,106.76. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

Several research firms have recently commented on UMBF. Citigroup assumed coverage on UMB Financial in a research report on Thursday, October 10th. They set a "buy" rating and a $127.00 price target for the company. Piper Sandler lifted their target price on UMB Financial from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their price target on shares of UMB Financial from $107.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Finally, Barclays lifted their price objective on shares of UMB Financial from $118.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $115.00.

UMB Financial Stock Up 13.2 %

The business's 50 day moving average is $105.41 and its 200-day moving average is $93.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $6.13 billion, a PE ratio of 15.35 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.05. The firm 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 14.44% and a return on equity of 13.80%. During the same quarter in the previous year, the firm posted $2.02 earnings per share. As a group, analysts predict that UMB Financial Co. will post 9.33 EPS for the current year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Tuesday, December 10th. This is a positive change from UMB Financial's previous quarterly dividend of $0.39. UMB Financial's dividend payout ratio (DPR) is 19.50%.

Hedge Funds Weigh In On UMB Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UMBF. V Square Quantitative Management LLC acquired a new position in shares of UMB Financial in the 3rd quarter valued at $26,000. Covestor Ltd boosted its stake in UMB Financial by 31.0% in the third quarter. Covestor Ltd now owns 431 shares of the bank's stock valued at $45,000 after acquiring an additional 102 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of UMB Financial during the second quarter worth about $128,000. CWM LLC increased its position in shares of UMB Financial by 7.1% during the second quarter. CWM LLC now owns 1,941 shares of the bank's stock worth $162,000 after purchasing an additional 129 shares in the last quarter. Finally, Heritage Family Offices LLP purchased a new stake in shares of UMB Financial in the 3rd quarter valued at about $203,000. 87.78% of the stock is owned by institutional investors and hedge funds.

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.