2,345 Shares in UMB Financial Corporation (NASDAQ:UMBF) Purchased by M&T Bank Corp

M&T Bank Corp purchased a new position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,345 shares of the bank's stock, valued at approximately $237,000.

A number of other hedge funds also recently bought and sold shares of the company. Rothschild Investment LLC lifted its stake in UMB Financial by 442.0% during the 1st quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock valued at $27,000 after acquiring an additional 221 shares during the period. Versant Capital Management Inc lifted its stake in shares of UMB Financial by 703.2% in the 1st quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock worth $50,000 after purchasing an additional 436 shares during the period. Covestor Ltd lifted its stake in shares of UMB Financial by 28.8% in the 4th quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after purchasing an additional 124 shares during the period. Fifth Third Bancorp lifted its stake in shares of UMB Financial by 38.1% in the 1st quarter. Fifth Third Bancorp now owns 624 shares of the bank's stock worth $63,000 after purchasing an additional 172 shares during the period. Finally, Marquette Asset Management LLC purchased a new stake in UMB Financial in the 1st quarter worth approximately $82,000. Institutional investors own 87.78% of the company's stock.

Insider Buying and Selling at UMB Financial

In other news, CEO J Mariner Kemper sold 5,412 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total transaction of $550,995.72. Following the transaction, the chief executive officer owned 288,945 shares in the company, valued at approximately $29,417,490.45. This trade represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.45% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Bank of America assumed coverage on shares of UMB Financial in a report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 target price for the company. Barclays increased their price objective on shares of UMB Financial from $130.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Piper Sandler set a $135.00 price objective on shares of UMB Financial and gave the company an "overweight" rating in a report on Friday, June 13th. Truist Financial set a $128.00 price objective on shares of UMB Financial and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Royal Bank Of Canada lowered their target price on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, UMB Financial currently has an average rating of "Hold" and a consensus price target of $127.00.

UMB Financial Stock Up 0.3%

Shares of UMBF opened at $109.73 on Friday. The company has a market cap of $8.33 billion, a PE ratio of 13.80, a P/E/G ratio of 1.45 and a beta of 0.74. The business has a fifty day moving average of $103.74 and a 200 day moving average of $104.57. UMB Financial Corporation has a 52-week low of $82.00 and a 52-week high of $129.94. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.37. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. The business had revenue of $563.84 million during the quarter, compared to the consensus estimate of $555.79 million. During the same period last year, the company earned $2.47 earnings per share. The business's revenue for the quarter was up 41.4% compared to the same quarter last year. On average, sell-side analysts expect that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.46%. UMB Financial's dividend payout ratio (DPR) is 20.13%.

UMB Financial Company Profile

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.

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