UMB Financial Corp (NASDAQ:UMBF) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors 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 is Wednesday, September 9th.
UMB Financial has raised its dividend payment by an average of 22.2% annually over the last three years and has increased 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 research 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%.
UMBF traded down $0.30 during trading on Thursday, hitting $49.53. 12,919 shares of the company’s stock traded hands, compared to its average volume of 201,557. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 4.20 and a beta of 1.04. The company’s 50 day simple moving average is $49.67 and its two-hundred day simple moving average is $53.56. UMB Financial has a 12-month low of $39.47 and a 12-month high of $70.26. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.05.
UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, July 28th. The bank reported $1.33 EPS for the quarter, beating the consensus estimate of $0.37 by $0.96. UMB Financial had a return on equity of 7.33% and a net margin of 14.62%. The company had revenue of $298.69 million for the quarter, compared to analysts’ expectations of $282.63 million. During the same period last year, the firm posted $1.17 earnings per share. On average, equities analysts expect that UMB Financial will post 2.46 EPS for the current year.
A number of analysts have recently commented on the stock. BidaskClub lowered shares of UMB Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, July 8th. Wells Fargo & Co raised shares of UMB Financial from an “underweight” rating to an “equal weight” rating and set a $52.00 target price for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $66.67.
In other UMB Financial news, CFO Ram Shankar purchased 782 shares of UMB Financial stock in a transaction dated Friday, May 22nd. The stock was purchased at an average price of $47.01 per share, with a total value of $36,761.82. The purchase was disclosed in a filing with the SEC, 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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