274,871 Shares in UMB Financial Corporation $UMBF Acquired by Azora Capital LP

Key Points

• Azora Capital acquired 274,871 shares of UMB Financial worth approximately $39.2 million, representing about 0.36% of the bank and 1.7% of Azora’s portfolio. Institutional investors collectively own 87.78% of the company.
• Analysts maintain a positive outlook, with an overall “Moderate Buy” rating and an average price target of $165. UMB Financial also exceeded quarterly expectations, reporting EPS of $3.57 versus the $3.12 consensus and revenue of $778 million.
• UMB Financial raised its quarterly dividend to $0.50 per share, implying an annualized dividend of $2.00 and a 1.4% yield. Meanwhile, company insiders sold 34,171 shares worth approximately $4.9 million over the past 90 days.

Azora Capital LP acquired a new stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 274,871 shares of the bank's stock, valued at approximately $39,241,000. UMB Financial accounts for 1.7% of Azora Capital LP's holdings, making the stock its 22nd largest holding. Azora Capital LP owned approximately 0.36% of UMB Financial as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. First National Bank of Omaha acquired a new stake in shares of UMB Financial in the 2nd quarter valued at approximately $1,053,000. BlackRock Inc. acquired a new position in UMB Financial during the second quarter worth $1,458,386,000. Ceredex Value Advisors LLC acquired a new position in UMB Financial during the second quarter worth $14,112,000. Hsbc Holdings PLC raised its position in UMB Financial by 290.2% during the first quarter. Hsbc Holdings PLC now owns 13,355 shares of the bank's stock worth $1,506,000 after acquiring an additional 9,932 shares in the last quarter. Finally, NFJ Investment Group LLC bought a new stake in UMB Financial during the second quarter worth $47,026,000. Institutional investors and hedge funds own 87.78% of the company's stock.

Insider Activity

In other UMB Financial news, President James D. Rine sold 8,246 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the transaction, the president owned 61,446 shares in the company, valued at $8,147,125.14. This trade represents a 11.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan G. Murphy sold 1,377 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $145.55, for a total transaction of $200,422.35. Following the completion of the sale, the director directly owned 10,635 shares of the company's stock, valued at approximately $1,547,924.25. The trade was a 11.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 34,171 shares of company stock worth $4,919,826. Corporate insiders own 5.33% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Truist Financial set a $170.00 price target on shares of UMB Financial and gave the company a "buy" rating in a research note on Tuesday, August 4th. Keefe, Bruyette & Woods boosted their price objective on shares of UMB Financial from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. TD Cowen reaffirmed a "buy" rating and issued a $166.00 target price (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. Barclays reiterated an "overweight" rating and issued a $175.00 target price (up from $170.00) on shares of UMB Financial in a research note on Monday, August 3rd. Finally, Piper Sandler reiterated an "overweight" rating and set a $181.00 price target (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $165.00.

UMB Financial Stock Down 0.2%

UMB Financial stock opened at $143.34 on Thursday. The stock has a market cap of $10.89 billion, a P/E ratio of 11.94, a P/E/G ratio of 0.70 and a beta of 0.77. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. UMB Financial Corporation has a twelve month low of $103.38 and a twelve month high of $153.32. The company's 50-day moving average price is $144.40 and its two-hundred day moving average price is $130.68.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $778.00 million during the quarter, compared to analysts' expectations of $727.63 million. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.During the same quarter in the previous year, the company posted $2.96 earnings per share. As a group, analysts expect that UMB Financial Corporation will post 13.48 EPS for the current year.

UMB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. This is a positive change from UMB Financial's previous quarterly dividend of $0.43. UMB Financial's payout ratio is currently 14.32%.

About UMB Financial

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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