UMB Financial Corp (NASDAQ:UMBF) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Shareholders of record on Thursday, September 10th will be paid a dividend of 0.31 per share by the bank on Thursday, October 1st. This represents a $1.24 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Wednesday, September 9th.
UMB Financial has increased its dividend by an average of 22.2% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. UMB Financial has a payout ratio of 50.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect UMB Financial to earn $3.50 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 35.4%.
Shares of UMBF stock traded down $0.30 during mid-day trading on Thursday, hitting $49.53. The company’s stock had a trading volume of 12,919 shares, compared to its average volume of 201,557. The company has a market cap of $2.37 billion, a PE ratio of 13.08, a P/E/G ratio of 4.20 and a beta of 1.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.69 and a current ratio of 0.69. The company’s fifty day simple moving average is $49.67 and its 200-day simple moving average is $53.56. UMB Financial has a 52 week low of $39.47 and a 52 week high of $70.26.
A number of research firms have commented on UMBF. Wells Fargo & Co upgraded shares of UMB Financial from an “underweight” rating to an “equal weight” rating and set a $52.00 price target for the company in a report on Thursday. BidaskClub lowered UMB Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. UMB Financial has an average rating of “Hold” and a consensus price target of $66.67.
In related news, CFO Ram Shankar acquired 782 shares of the stock in a transaction dated Friday, May 22nd. The stock was purchased at an average cost of $47.01 per share, with a total value of $36,761.82. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.24% of the company’s stock.
UMB Financial Company Profile
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. It operates through four segments: Commercial Banking, Institutional Banking, Personal Banking, and Healthcare Services. The Commercial Banking segment provides commercial loans, commercial credit cards, letters of credit, loan syndication services, consultative services, and various financial options; capital markets services, including asset-based financing, asset securitization, equity and mezzanine financing, factoring, and private and public placement of senior debt, as well as merger and acquisition consulting; and depository, account reconciliation, electronic fund transfer, controlled disbursements, lockbox, and remote deposit capture services.
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