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 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.09, Briefing.com reports. The company had revenue of $716.44 million during the quarter, compared to analysts’ expectations of $398.83 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. During the same period in the prior year, the business posted $2.02 EPS.

UMB Financial Stock Up 6.1 %

UMB Financial stock traded up $6.48 during trading on Wednesday, hitting $113.14. 212,328 shares of the company were exchanged, compared to its average volume of 356,939. The business’s 50 day moving average is $104.56 and its 200 day moving average is $92.67. UMB Financial has a 52 week low of $61.99 and a 52 week high of $113.56. The company has a market capitalization of $5.52 billion, a P/E ratio of 13.89 and a beta of 0.78. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.12.

Insiders Place Their Bets

In other news, insider Robert Brian Beaird sold 698 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was 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 of the company’s stock, valued at $622,695.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other UMB Financial news, insider Robert Brian Beaird sold 698 shares of UMB Financial stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $93.19, for a total transaction of $65,046.62. Following the completion of the transaction, the insider now owns 6,682 shares of the company’s stock, valued at $622,695.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO J Mariner Kemper sold 10,115 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $93.00, for a total transaction of $940,695.00. Following the completion of the sale, the chief executive officer now owns 257,796 shares in the company, valued at $23,975,028. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,596 shares of company stock valued at $4,224,884. Insiders own 8.85% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.