UMB Financial Co. (NASDAQ:UMBF) to Issue $0.39 Quarterly Dividend

UMB Financial Co. (NASDAQ:UMBF) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Shareholders of record on Monday, June 10th will be paid a dividend of 0.39 per share by the bank on Monday, July 1st. This represents a $1.56 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Monday, June 10th.

UMB Financial has raised its dividend payment by an average of 7.0% per year over the last three years and has raised its dividend annually for the last 31 consecutive years. UMB Financial has a payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect UMB Financial to earn $7.64 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 20.4%.

UMB Financial Trading Up 2.5 %

Shares of NASDAQ UMBF traded up $1.91 during trading hours on Tuesday, hitting $79.66. 1,507,426 shares of the company traded hands, compared to its average volume of 257,434. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 11.29 and a beta of 0.83. The company’s 50 day moving average price is $81.85 and its 200 day moving average price is $77.83. UMB Financial has a 12 month low of $50.68 and a 12 month high of $87.36. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.12.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Wednesday, January 31st. The bank reported $2.29 EPS for the quarter, beating the consensus estimate of $1.76 by $0.53. UMB Financial had a net margin of 14.70% and a return on equity of 13.75%. The company had revenue of $370.80 million for the quarter, compared to the consensus estimate of $360.69 million. During the same period in the prior year, the firm posted $2.06 EPS. The firm’s revenue was up .0% compared to the same quarter last year. On average, equities research analysts anticipate that UMB Financial will post 7.41 earnings per share for the current fiscal year.

Insider Buying and Selling at UMB Financial

In other news, CEO J Mariner Kemper sold 3,500 shares of UMB Financial stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $83.10, for a total value of $290,850.00. Following the completion of the sale, the chief executive officer now directly owns 252,114 shares of the company’s stock, valued at $20,950,673.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO J Mariner Kemper sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $83.10, for a total transaction of $290,850.00. Following the sale, the chief executive officer now directly owns 252,114 shares of the company’s stock, valued at approximately $20,950,673.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Abigail M. Wendel sold 1,182 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $80.70, for a total transaction of $95,387.40. Following the completion of the transaction, the insider now directly owns 15,217 shares of the company’s stock, valued at approximately $1,228,011.90. The disclosure for this sale can be found here. Insiders have sold a total of 27,277 shares of company stock valued at $2,264,661 over the last quarter. 8.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

UMBF has been the subject of a number of recent analyst reports. Raymond James boosted their target price on shares of UMB Financial from $80.00 to $102.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 1st. Barclays raised shares of UMB Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $91.00 to $95.00 in a research note on Tuesday. StockNews.com upgraded UMB Financial from a “sell” rating to a “hold” rating in a report on Saturday, March 16th. Piper Sandler boosted their target price on UMB Financial from $87.50 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, Wells Fargo & Company raised their price target on UMB Financial from $88.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, UMB Financial has a consensus rating of “Moderate Buy” and an average price target of $92.00.

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.