UMB Financial Co. (NASDAQ:UMBF) Increases Dividend to $0.40 Per Share

UMB Financial Co. (NASDAQ:UMBF) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, December 10th. This is an increase from UMB Financial’s previous quarterly dividend of $0.39.

UMB Financial has increased its dividend 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 payout ratio of 17.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 4.2 %

NASDAQ UMBF opened at $111.14 on Thursday. The stock’s 50 day moving average is $104.82 and its 200 day moving average is $92.80. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.12. UMB Financial has a 12 month low of $61.99 and a 12 month high of $113.56. The stock has a market cap of $5.42 billion, a PE ratio of 14.34 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.09. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. The company had revenue of $716.44 million for the quarter, compared to analysts’ expectations of $398.83 million. During the same period in the previous year, the firm earned $2.02 EPS. Research analysts predict that UMB Financial will post 8.98 EPS for the current fiscal year.

Insider Activity at UMB Financial

In related news, insider Robert Brian Beaird sold 698 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $93.19, for a total transaction of $65,046.62. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Robert Brian Beaird sold 698 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $93.19, for a total transaction of $65,046.62. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO J Mariner Kemper sold 10,115 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $93.00, for a total value of $940,695.00. Following the sale, the chief executive officer now owns 257,796 shares in the company, valued at $23,975,028. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,596 shares of company stock worth $4,224,884. Company insiders own 8.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Piper Sandler upped their price objective on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Wells Fargo & Company upped their price objective on UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Citigroup assumed coverage on UMB Financial in a report on Thursday, October 10th. They set a “buy” rating and a $127.00 price objective on the stock. Finally, Barclays upped their price objective on UMB Financial from $100.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two equities research 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.33.

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.