UMB Financial (NASDAQ:UMBF) Issues Earnings Results, Beats Expectations By $0.05 EPS

UMB Financial (NASDAQ:UMBF) announced its quarterly earnings results on Tuesday. The bank reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.05, Briefing.com reports. The firm had revenue of $716.44 million during the quarter, compared to the consensus estimate of $398.83 million. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same period in the prior year, the firm earned $2.02 EPS.

UMB Financial Stock Performance

Shares of UMBF stock opened at $109.73 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.73 and a current ratio of 0.76. The stock has a market capitalization of $5.35 billion, a price-to-earnings 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. The company’s 50-day simple moving average is $105.05 and its 200-day simple moving average is $92.92.

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend 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 is 19.50%.

Analysts Set New Price Targets

Several brokerages recently commented on UMBF. Wells Fargo & Company raised their target price on UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday. Piper Sandler boosted their target price on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Citigroup initiated coverage on shares of UMB Financial in a research note on Thursday, October 10th. They issued a “buy” rating and a $127.00 target price for the company. Finally, Barclays lifted their price target on shares of UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday. Two equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Insider Buying and Selling at UMB Financial

In related news, EVP John Pauls sold 1,623 shares of the firm’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP John Pauls sold 1,623 shares of the stock in a transaction dated Tuesday, August 6th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO J Mariner Kemper sold 10,115 shares of UMB Financial stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 257,796 shares of the company’s stock, valued at approximately $23,975,028. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,038 shares of company stock worth $4,078,068 over the last quarter. 8.85% of the stock is owned by corporate insiders.

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.