UMB Financial (NASDAQ:UMBF) Releases Earnings Results, Beats Expectations By $0.09 EPS

UMB Financial (NASDAQ:UMBF) announced its quarterly earnings results on Tuesday. The bank reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.09, Briefing.com reports. The company had revenue of $716.44 million for the quarter, compared to analysts’ expectations of $398.83 million. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. During the same quarter in the previous year, the business posted $2.02 EPS.

UMB Financial Price Performance

UMBF stock traded up $6.48 during midday trading on Wednesday, hitting $113.14. The company’s stock had a trading volume of 212,328 shares, compared to its average volume of 356,939. UMB Financial has a 12 month low of $61.99 and a 12 month high of $113.56. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 13.89 and a beta of 0.78. The company has a 50 day moving average of $104.56 and a two-hundred day moving average of $92.67.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Piper Sandler boosted their target price on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Barclays upped their price target on shares of UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Citigroup began coverage on shares of UMB Financial in a research report on Thursday, October 10th. They set a “buy” rating and a $127.00 price target for the company. Finally, Wells Fargo & Company upped their price target on shares of UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.33.

Insiders Place Their Bets

In related news, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total value of $2,473,983.00. Following the completion of the transaction, the chief executive officer now owns 1,600,904 shares of the company’s stock, valued at approximately $162,988,036.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total value of $2,473,983.00. Following the sale, the chief executive officer now owns 1,600,904 shares of the company’s stock, valued at approximately $162,988,036.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tamara Peterman purchased 396 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average price of $99.56 per share, for a total transaction of $39,425.76. Following the completion of the acquisition, the director now directly owns 7,407 shares in the company, valued at $737,440.92. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 42,596 shares of company stock worth $4,224,884 in the last three months. 8.85% of the stock is owned by company insiders.

About UMB Financial

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.