UMB Financial Co. (NASDAQ:UMBF) Sees Significant Short-Term Interest Growth
UMB Financial Co. (NASDAQ: UMBF – Get a rating) recorded a strong increase in short-term interest in May. As of May 31, there was short interest totaling 1,370,000 shares, an increase of 67.3% from the May 15 total of 818,800 shares. Based on an average daily trading volume of 217,000 shares, the days-to-cover ratio is currently 6.3 days. Approximately 3.2% of the company’s shares are sold short.
In related news, CEO J Mariner Kemper sold 1,554 shares in a trade that took place on Wednesday, March 16. The shares were sold at an average price of $102.64, for a total value of $159,502.56. The sale was disclosed in an SEC filing, available at the SEC website. 9.77% of the shares are currently held by company insiders.
Several large investors have recently changed their stake in the company. Lazard Asset Management LLC increased its stake in UMB Financial shares by 84.6% in the fourth quarter. Lazard Asset Management LLC now owns 515 shares of the bank valued at $54,000 after buying 236 additional shares last quarter. CWM LLC purchased a new stake in UMB Financial stock in Q1 for approximately $54,000. Rockefeller Capital Management LP purchased a new stake in UMB Financial stock in Q3 for approximately $73,000. Parkside Investments LLC purchased a new stake in UMB Financial stock in Q1 for approximately $73,000. Finally, Meeder Asset Management Inc. purchased a new stake in UMB Financial stock in Q1 for approximately $78,000. Institutional investors and hedge funds hold 87.26% of the company’s shares.
A number of research analysts have weighed in on UMBF shares. StockNews.com upgraded UMB Financial from a “sell” to a “hold” rating in a report released on Sunday, May 1. Wells Fargo & Company reduced its target price on UMB Financial from $110.00 to $100.00 in a Thursday, April 28 research note. Finally, Raymond James raised his price target on UMB Financial from $110.00 to $120.00 and gave the stock an “outperform” rating in a Friday, March 18 research note.
UMBF shares opened at $84.23 on Tuesday. The stock has a 50-day simple moving average of $91.89 and a 200-day simple moving average of $98.85. The stock has a market capitalization of $4.08 billion, a PE ratio of 11.22 and a beta of 0.93. UMB Financial has a 1-year low of $82.25 and a 1-year high of $112.24. The company has a debt ratio of 0.10, a quick ratio of 0.69 and a current ratio of 0.69.
UMB Financial (NASDAQ:UMBF – Get a rating) last reported results on Tuesday, April 26. The bank reported earnings per share of $2.17 for the quarter, beating the consensus estimate of $1.65 by $0.52. UMB Financial achieved a return on equity of 12.16% and a net margin of 26.95%. The company posted revenue of $340.43 million in the quarter, compared to $332.57 million expected by analysts. In the same quarter a year earlier, the company had earned earnings per share of $1.91. Analysts predict that UMB Financial will post EPS of 8.17 for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1. Investors of record on Friday, June 10 will receive a dividend of $0.37 per share. This represents a dividend of $1.48 on an annualized basis and a yield of 1.76%. The ex-dividend date is Thursday, June 9. UMB Financial’s dividend payout ratio is currently 19.71%.
About UMB Financial (Get a rating)
UMB Financial Corporation operates as a bank holding company for UMB bank which provides various banking and other financial services. The Commercial Banking segment provides commercial loans and credit cards; commercial real estate financing; letter of credit; loan syndication and advisory service; various business solutions, including asset-based lending, accounts receivable financing, mezzanine debt and minority equity investments; and cash management service, such as deposit service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic funds transfer and automated payment, controlled disbursement, vault service and input service remote filing.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in UMB Financial right now?
Before you consider UMB Financial, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and UMB Financial wasn’t on the list.
While UMB Financial currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here