24,122 Shares in UMB Financial Corporation $UMBF Acquired by Petiole USA ltd

Key Points

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Petiole USA ltd purchased a new position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 24,122 shares of the bank's stock, valued at approximately $2,439,000. UMB Financial comprises about 1.7% of Petiole USA ltd's holdings, making the stock its 27th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of UMB Financial by 54.0% during the 1st quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank's stock worth $741,342,000 after purchasing an additional 2,570,283 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of UMB Financial by 78.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank's stock worth $273,029,000 after purchasing an additional 1,185,671 shares during the last quarter. Nuveen LLC acquired a new position in shares of UMB Financial during the 1st quarter worth about $51,324,000. Freestone Grove Partners LP acquired a new position in shares of UMB Financial during the 4th quarter worth about $48,235,000. Finally, Wellington Management Group LLP lifted its position in shares of UMB Financial by 19.1% during the 1st quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank's stock worth $243,359,000 after purchasing an additional 385,830 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.

Analyst Ratings Changes

UMBF has been the subject of several research analyst reports. Truist Financial boosted their price objective on UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Raymond James Financial boosted their price objective on UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 31st. Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Piper Sandler upped their price target on UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company upped their price target on UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $132.11.

Insider Buying and Selling

In related news, Director Greg M. Graves acquired 261 shares of the stock in a transaction dated Friday, August 1st. The shares were bought at an average cost of $107.58 per share, for a total transaction of $28,078.38. Following the purchase, the director owned 37,800 shares in the company, valued at approximately $4,066,524. This trade represents a 0.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stacy H. King sold 1,500 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $118.88, for a total value of $178,320.00. Following the sale, the insider owned 9,472 shares in the company, valued at approximately $1,126,031.36. This trade represents a 13.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,640 shares of company stock valued at $2,675,091. 5.45% of the stock is currently owned by company insiders.

UMB Financial Price Performance

Shares of UMBF stock traded up $6.40 during trading hours on Friday, hitting $121.59. The company had a trading volume of 836,030 shares, compared to its average volume of 635,146. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $129.94. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.31 and a beta of 0.77. The firm's fifty day moving average is $108.05 and its 200 day moving average is $103.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.61. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The company had revenue of $689.21 million for the quarter, compared to analyst estimates of $638.25 million. During the same period in the prior year, the company posted $2.16 EPS. The company's revenue was up 76.7% compared to the same quarter last year. On average, sell-side analysts predict that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, September 10th. UMB Financial's dividend payout ratio is currently 18.39%.

UMB Financial 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.