UMB Financial Co. (NASDAQ:UMBF) Raises Dividend to $0.40 Per Share

UMB Financial Co. (NASDAQ:UMBF) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Investors 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 increased its dividend payment by an average of 7.0% annually over the last three years and has increased its dividend every year for the last 31 years. UMB Financial has a dividend payout ratio of 17.3% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of UMBF opened at $111.14 on Thursday. The firm’s 50-day simple moving average is $104.82 and its two-hundred day simple moving average is $92.80. UMB Financial has a fifty-two week low of $61.99 and a fifty-two week high of $113.56. The stock has a market cap of $5.42 billion, a PE ratio of 14.34 and a beta of 0.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.73 and a current ratio of 0.73.

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, beating analysts’ consensus estimates of $2.16 by $0.09. The company had revenue of $716.44 million during the quarter, compared to analyst estimates of $398.83 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. During the same quarter last year, the company earned $2.02 EPS. Analysts anticipate that UMB Financial will post 8.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their target price on shares of UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Citigroup initiated coverage on shares of UMB Financial in a report on Thursday, October 10th. They set a “buy” rating and a $127.00 price target on the stock. Finally, Barclays increased their price target on shares of UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $111.33.

Insider Activity

In related news, insider Robert Brian Beaird sold 698 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $93.19, for a total transaction of $65,046.62. Following the transaction, the insider now owns 6,682 shares in the company, valued at $622,695.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction that occurred 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 owns 1,600,904 shares in the company, valued at $162,988,036.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Brian Beaird sold 698 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $93.19, for a total transaction of $65,046.62. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 42,596 shares of company stock worth $4,224,884 over the last 90 days. 8.85% of the stock is currently owned by insiders.

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.