UMB Financial Corp (NASDAQ:UMBF) announced a quarterly dividend on Tuesday, October 23rd, Zacks reports. Stockholders of record on Monday, December 10th will be paid a dividend of 0.30 per share by the bank on Wednesday, January 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Friday, December 7th. This is a boost 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 dividend payout ratio of 26.1% meaning its dividend is sufficiently covered by earnings. Equities 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%.
Shares of UMBF stock opened at $67.67 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $3.38 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 1.85 and a beta of 0.89. UMB Financial has a 12 month low of $57.00 and a 12 month high of $82.14.
In other news, Director Timothy R. Murphy purchased 1,000 shares of the company’s stock in a transaction on Friday, September 14th. The shares were purchased at an average cost of $74.54 per share, with a total value of $74,540.00. Following the completion of the transaction, the director now owns 8,635 shares of the company’s stock, valued at approximately $643,652.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman J Mariner Kemper sold 3,900 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $75.53, for a total transaction of $294,567.00. Following the sale, the chairman now directly owns 189,937 shares in the company, valued at $14,345,941.61. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,363 shares of company stock worth $97,997 and have sold 23,333 shares worth $1,696,114. Corporate insiders own 10.26% of the company’s stock.
A number of analysts have recently commented on UMBF shares. Zacks Investment Research raised shares of UMB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. BidaskClub raised shares of UMB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, September 5th. ValuEngine lowered shares of UMB Financial from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Wells Fargo & Co set a $70.00 price objective on shares of UMB Financial and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Finally, Stephens reissued a “hold” rating and issued a $80.00 price objective on shares of UMB Financial in a research report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $77.00.
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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