UMB Financial Co. (NASDAQ: UMBF – Get a rating) declared a quarterly dividend on Tuesday, April 26, Zacks reports. Investors of record on Friday, June 10 will receive a dividend of 0.37 per share from the bank on Friday, July 1. This represents an annualized dividend of $1.48 and a yield of 1.57%. The ex-date of this dividend is Thursday, June 9.
UMB Financial has increased its dividend by an average of 5.7% per year over the past three years and has increased its dividend annually for the past 18 consecutive years. UMB Financial has a payout ratio of 19.0%, which means that its dividend is sufficiently covered by earnings. Equity research analysts expect UMB Financial to earn $7.91 per share next year, meaning the company should continue to be able to cover its $1.48 annual dividend. with an expected future payout ratio of 18.7%.
NASDAQ: UMBF opened at $94.02 on Thursday. UMB Financial has a 52 week low of $84.21 and a 52 week high of $112.24. The company has a 50-day moving average price of $97.81 and a two-hundred-day moving average price of $101.74. The company has a debt ratio of 0.09, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $4.55 billion, a price-earnings ratio of 12.97 and a beta of 0.94.
UMB Financial (NASDAQ: UMBF – Get a rating) last released its quarterly results on Tuesday, April 26. The bank reported EPS of $2.17 for the quarter, beating the Zacks consensus estimate of $1.67 by $0.50. UMB Financial achieved a return on equity of 11.52% and a net margin of 26.57%. In the same quarter a year earlier, the company had earned earnings per share of $1.91. As a group, sell-side analysts expect UMB Financial to post earnings per share of 7.23 for the current year.
A number of stock analysts have weighed in on the stock recently. Wells Fargo & Company cut its price target on UMB Financial shares from $110.00 to $100.00 in a report on Thursday. Raymond James raised his price target on UMB Financial from $110.00 to $120.00 and gave the stock an “outperform” rating in a Friday, March 18 research note. To finish, StockNews.com downgraded UMB Financial shares from a “hold” to a “sell” rating in a Saturday, April 23 research note. Two analysts rated the stock with a sell rating, one gave the stock a hold rating and two gave the stock a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $108.50.
In other news from UMB Financial, Director Timothy R. Murphy bought 1,000 shares in a trade on Tuesday, February 1. The shares were purchased at an average price of $98.44 per share, with a total value of $98,440.00. The acquisition was disclosed in a filing with the SEC, accessible via this link. Also, CEO J Mariner Kemper sold 1,554 shares of the company in a trade dated Wednesday, March 16. The stock was sold at an average price of $102.64, for a total value of $159,502.56. Disclosure of this sale can be found here. Insiders sold a total of 12,118 shares of the company worth $1,236,214 during the last quarter. Company insiders hold 9.77% of the company’s stock.
A number of hedge funds have recently increased or reduced their stakes in the company. Sei Investments Co. increased its position in UMB Financial shares by 0.8% during the fourth quarter. Sei Investments Co. now owns 104,074 shares of the bank valued at $11,043,000 after buying 876 additional shares last quarter. Deutsche Bank AG increased its position in UMB Financial by 1.5% during the fourth quarter. Deutsche Bank AG now owns 78,199 shares of the bank valued at $8,298,000 after buying an additional 1,123 shares last quarter. The Tennessee State Treasury Department increased its stake in UMB Financial by 3.9% during the fourth quarter. The Tennessee State Treasury Department now owns 66,160 shares of the bank worth $7,020,000 after buying 2,500 more shares in the last quarter. California State Teachers Retirement System increased its position in UMB Financial shares by 2.4% during the 4th quarter. California State Teachers Retirement System now owns 62,708 shares of the bank valued at $6,654,000 after buying 1,453 additional shares in the last quarter. Finally, Morgan Stanley increased its stake in UMB Financial shares by 38.5% during the third quarter. Morgan Stanley now owns 59,582 shares of the bank valued at $5,762,000 after buying an additional 16,574 shares last quarter. 86.70% of the shares are held by institutional investors and hedge funds.
About UMB Financial (Get a rating)
UMB Financial Corporation operates as a bank holding company for UMB bank which provides various banking and other financial services. The Commercial Banking segment provides commercial loans and credit cards; commercial real estate financing; letter of credit; loan syndication and advisory service; various business solutions, including asset-based lending, accounts receivable financing, mezzanine debt and minority equity investments; and cash management service, such as deposit service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic funds transfer and automated payment, controlled disbursement, vault service and input service remote filing.
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