UMB Financial (NASDAQ:UMBF) Announces Earnings Results

UMB Financial (NASDAQ:UMBF) announced its quarterly earnings results on Tuesday. The bank reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.50, FiscalAI reports. The company had revenue of $778.00 million for the quarter, compared to the consensus estimate of $727.63 million. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%.

UMB Financial Trading Up 2.1%

UMBF stock traded up $3.01 during midday trading on Tuesday, reaching $143.98. 831,411 shares of the company traded hands, compared to its average volume of 632,267. The firm has a market capitalization of $10.94 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 0.78 and a beta of 0.77. UMB Financial has a 52-week low of $103.38 and a 52-week high of $148.31. The business has a 50 day moving average of $137.42 and a 200-day moving average of $127.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75.

Insider Buying and Selling

In related news, President James D. Rine sold 8,246 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the sale, the president owned 61,446 shares in the company, valued at approximately $8,147,125.14. This represents a 11.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kevin Charles Gallagher sold 381 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total value of $50,627.28. Following the completion of the sale, the director owned 12,223 shares of the company’s stock, valued at approximately $1,624,192.24. This represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UMB Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. lifted its holdings in shares of UMB Financial by 636.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock worth $156,543,000 after acquiring an additional 1,286,543 shares during the last quarter. Wellington Management Group LLP lifted its stake in UMB Financial by 32.0% in the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock worth $366,743,000 after purchasing an additional 751,525 shares during the last quarter. UMB Bank n.a. boosted its position in shares of UMB Financial by 11.4% during the fourth quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank’s stock valued at $553,322,000 after buying an additional 493,875 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of UMB Financial by 1,148.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 422,065 shares of the bank’s stock valued at $48,554,000 after buying an additional 388,253 shares during the period. Finally, Johnson Investment Counsel Inc. grew its stake in shares of UMB Financial by 1,560.9% during the fourth quarter. Johnson Investment Counsel Inc. now owns 362,118 shares of the bank’s stock valued at $41,658,000 after buying an additional 340,316 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

Wall Street Analysts Forecast Growth

UMBF has been the subject of several research reports. Piper Sandler increased their price objective on shares of UMB Financial from $155.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Wells Fargo & Company lifted their target price on UMB Financial from $130.00 to $139.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Morgan Stanley boosted their target price on UMB Financial from $143.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Zacks Research lowered UMB Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Stephens began coverage on UMB Financial in a report on Tuesday, July 14th. They set an “overweight” rating and a $167.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, UMB Financial presently has a consensus rating of “Moderate Buy” and an average price target of $152.17.

About UMB Financial

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.