UMB Financial Corporation (NASDAQ:UMBF) declared a quarterly dividend on Tuesday, October 24th, Zacks reports. Stockholders of record on Friday, December 8th will be given a dividend of 0.275 per share by the bank on Tuesday, January 2nd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Thursday, December 7th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.26.
UMB Financial has raised its dividend by an average of 15.0% annually over the last three years and has increased its dividend every year for the last 12 years. UMB Financial has a dividend payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect UMB Financial to earn $3.96 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 27.8%.
Shares of UMB Financial (UMBF) opened at $73.26 on Monday. UMB Financial has a 52-week low of $62.27 and a 52-week high of $81.55. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $3,653.28, a PE ratio of 19.91, a PEG ratio of 2.24 and a beta of 0.82.
In related news, Director Timothy R. Murphy purchased 1,500 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were bought at an average price of $67.50 per share, with a total value of $101,250.00. Following the completion of the acquisition, the director now owns 4,049 shares of the company’s stock, valued at $273,307.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin M. Macke sold 1,332 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $75.50, for a total transaction of $100,566.00. The disclosure for this sale can be found here. In the last three months, insiders have purchased 1,786 shares of company stock worth $122,201. 10.09% of the stock is owned by corporate insiders.
Several equities research analysts recently issued reports on UMBF shares. Zacks Investment Research downgraded UMB Financial from a “hold” rating to a “sell” rating in a report on Thursday, November 30th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $74.00 price objective on shares of UMB Financial in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $77.20.
About UMB Financial
UMB Financial Corporation is a diversified financial holding company. The Company supplies banking services, institutional investment management, asset servicing and payment solutions to its customers in the United States and around the globe. The Company’s segments include Bank, which provides a range of banking services to commercial, retail, government and correspondent bank customers through the Company’s branches, call center, Internet banking and automated teller machine network; Institutional Investment Management, which provides equity and fixed income investment strategies in the intermediary and institutional markets, and Asset Servicing, which provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts.
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