Great Lakes Advisors LLC purchased a new stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,426 shares of the bank's stock, valued at approximately $2,059,000.
A number of other institutional investors have also bought and sold shares of UMBF. BlackRock Inc. acquired a new position in UMB Financial in the second quarter valued at approximately $1,458,386,000. Hsbc Holdings PLC lifted its position in shares of UMB Financial by 290.2% during the 1st quarter. Hsbc Holdings PLC now owns 13,355 shares of the bank's stock valued at $1,506,000 after acquiring an additional 9,932 shares during the period. B. Metzler seel. Sohn & Co. AG lifted its position in shares of UMB Financial by 40.8% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 38,261 shares of the bank's stock valued at $4,402,000 after acquiring an additional 11,083 shares during the period. Dimensional Fund Advisors LP boosted its stake in UMB Financial by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank's stock worth $328,200,000 after acquiring an additional 55,005 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in UMB Financial by 1.5% during the fourth quarter. Clearbridge Investments LLC now owns 614,037 shares of the bank's stock worth $70,639,000 after acquiring an additional 9,147 shares in the last quarter. Institutional investors own 87.78% of the company's stock.
UMB Financial Stock Performance
Shares of NASDAQ UMBF opened at $145.14 on Friday. The stock's 50-day moving average is $143.83 and its 200 day moving average is $130.39. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 0.71 and a beta of 0.77. UMB Financial Corporation has a 1-year low of $103.38 and a 1-year high of $153.32. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.
UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.12 by $0.45. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. The business had revenue of $778.00 million for the quarter, compared to analyst estimates of $727.63 million. During the same quarter last year, the firm earned $2.96 EPS. On average, sell-side analysts anticipate that UMB Financial Corporation will post 13.48 EPS for the current fiscal year.
UMB Financial Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from UMB Financial's previous quarterly dividend of $0.43. UMB Financial's dividend payout ratio is presently 16.65%.
Insider Activity at UMB Financial
In other UMB Financial news, insider Nikki Farentino Newton sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total value of $297,200.00. Following the completion of the transaction, the insider directly owned 11,981 shares in the company, valued at $1,780,376.60. This represents a 14.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kevin Charles Gallagher sold 360 shares of the business's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $145.13, for a total transaction of $52,246.80. Following the completion of the transaction, the director directly owned 11,863 shares in the company, valued at $1,721,677.19. This trade represents a 2.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 34,171 shares of company stock valued at $4,919,826 in the last three months. Corporate insiders own 5.33% of the company's stock.
Analyst Ratings Changes
UMBF has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 price target (up from $168.00) on shares of UMB Financial in a research note on Thursday, July 30th. Piper Sandler reaffirmed an "overweight" rating and issued a $181.00 price objective (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. Citigroup reiterated a "neutral" rating and issued a $162.00 price objective (up from $144.00) on shares of UMB Financial in a research note on Friday, July 31st. Hovde Group upped their price objective on shares of UMB Financial from $145.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Finally, Truist Financial set a $170.00 target price on UMB Financial and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $165.00.
Check Out Our Latest Analysis on UMBF
UMB Financial Company Profile
(
Free Report)
UMB Financial Corporation NASDAQ: UMBF is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.
In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.
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