UMB Financial Corp (UMBF) Raises Dividend to $0.30 Per Share

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.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, October 23rd. The bank reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.04. The business had revenue of $251.38 million for the quarter, compared to analyst estimates of $260.02 million. UMB Financial had a net margin of 25.52% and a return on equity of 10.22%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Analysts anticipate that UMB Financial will post 4.57 earnings per share for the current fiscal year.

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.

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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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Dividend History for UMB Financial (NASDAQ:UMBF)

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