UMB Financial Corp (NASDAQ:UMBF) announced a quarterly dividend on Tuesday, October 23rd, Zacks reports. Stockholders of record on Monday, December 10th will be given a dividend of 0.30 per share by the bank on Wednesday, January 2nd. This represents a $1.20 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, December 7th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.29.
UMB Financial has decreased its dividend by an average of 5.3% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. UMB Financial has a payout ratio of 26.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect UMB Financial to earn $4.68 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 25.6%.
NASDAQ:UMBF opened at $64.09 on Thursday. UMB Financial has a 1-year low of $57.00 and a 1-year high of $82.14. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.04. The stock has a market cap of $3.38 billion, a PE ratio of 17.09, a PEG ratio of 1.84 and a beta of 0.87.
UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, October 23rd. The bank reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.04. UMB Financial had a return on equity of 10.22% and a net margin of 25.52%. The business had revenue of $251.38 million during the quarter, compared to analyst estimates of $260.02 million. During the same quarter in the previous year, the company posted $0.98 earnings per share. UMB Financial’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, sell-side analysts anticipate that UMB Financial will post 4.57 earnings per share for the current year.
UMBF has been the subject of several recent research reports. Wells Fargo & Co set a $70.00 price target on UMB Financial and gave the company a “hold” rating in a report on Tuesday, October 2nd. BidaskClub lowered UMB Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Raymond James set a $69.00 price target on UMB Financial and gave the company a “buy” rating in a report on Thursday, October 25th. Zacks Investment Research raised UMB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. Finally, ValuEngine lowered UMB Financial from a “hold” rating to a “sell” rating in a report on Monday, September 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $77.00.
In other UMB Financial news, Director Timothy R. Murphy acquired 1,000 shares of the stock in a transaction dated Friday, September 14th. The shares were acquired at an average cost of $74.54 per share, for a total transaction of $74,540.00. Following the completion of the transaction, the director now directly owns 8,635 shares of the company’s stock, valued at $643,652.90. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider J Walker Brian sold 500 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $75.75, for a total value of $37,875.00. The disclosure for this sale can be found here. Insiders sold 19,433 shares of company stock worth $1,401,547 over the last 90 days. Company insiders own 10.26% of the company’s stock.
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About UMB Financial
UMB Financial Corporation, a bank holding company, provides various banking and other financial services. It operates through two segments, Bank and Asset Servicing. The Bank segment offers a range of banking services to commercial, retail, government, and correspondent bank customers through its branches, call center, Internet banking, and ATM network.
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