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. Shareholders of record on Tuesday, December 10th will be paid 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 raised its dividend by an average of 7.0% per year over the last three years and has raised its dividend every year for the last 31 years. UMB Financial has a dividend payout ratio of 17.3% meaning 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 Trading Up 0.2 %

Shares of UMBF stock opened at $111.38 on Thursday. UMB Financial has a 1-year low of $61.99 and a 1-year high of $113.56. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 14.34 and a beta of 0.78. 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 stock has a 50 day simple moving average of $104.82 and a 200-day simple moving average of $92.80.

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

Insider Activity

In other UMB Financial news, CEO J Mariner Kemper sold 24,300 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the transaction, the chief executive officer now directly owns 1,600,904 shares of the company’s stock, valued at approximately $162,988,036.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Robert Brian Beaird sold 698 shares of the firm’s 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 sale, the insider now owns 6,682 shares in the company, valued at approximately $622,695.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,600,904 shares of the company’s stock, valued at approximately $162,988,036.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,596 shares of company stock valued at $4,224,884. Insiders own 8.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company upped 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 report on Thursday, August 1st. Barclays boosted their price target on shares of UMB Financial from $100.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler increased 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. Finally, Citigroup initiated coverage on UMB Financial in a research note on Thursday, October 10th. They set a “buy” rating and a $127.00 target price for the company. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $111.33.

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.