42,618 Shares in UMB Financial Corporation (NASDAQ:UMBF) Bought by Phocas Financial Corp.

Key Points

• Phocas Financial Corp. has acquired 42,618 shares of UMB Financial Corporation, valued at approximately $4.3 million, as part of its investment strategy during the first quarter.
• UMB Financial recently reported a significant quarterly earnings increase with an EPS of $2.96, exceeding estimates and reflecting a 76.7% revenue growth compared to the previous year.
• The company announced a quarterly dividend of $0.40, with an annualized yield of 1.5%, demonstrating a strong commitment to returning value to shareholders.

Phocas Financial Corp. purchased a new position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,618 shares of the bank's stock, valued at approximately $4,309,000. Phocas Financial Corp. owned 0.06% of UMB Financial as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in UMB Financial by 21.1% in the first quarter. Bank of New York Mellon Corp now owns 546,483 shares of the bank's stock worth $55,249,000 after purchasing an additional 95,339 shares during the period. OneDigital Investment Advisors LLC grew its stake in UMB Financial by 27.4% in the first quarter. OneDigital Investment Advisors LLC now owns 2,367 shares of the bank's stock worth $239,000 after purchasing an additional 509 shares during the period. Teacher Retirement System of Texas grew its stake in UMB Financial by 96.3% in the first quarter. Teacher Retirement System of Texas now owns 15,723 shares of the bank's stock worth $1,590,000 after purchasing an additional 7,715 shares during the period. New York State Teachers Retirement System grew its stake in UMB Financial by 2.8% in the first quarter. New York State Teachers Retirement System now owns 60,376 shares of the bank's stock worth $6,104,000 after purchasing an additional 1,664 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in UMB Financial in the fourth quarter worth $2,190,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Trading Down 1.5%

UMB Financial stock opened at $108.39 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. UMB Financial Corporation has a one year low of $82.00 and a one year high of $129.94. The stock has a market capitalization of $8.23 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. The business's fifty day moving average is $104.71 and its 200 day moving average is $104.15.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 EPS 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 analysts' expectations of $638.25 million. During the same period last year, the firm posted $2.16 earnings per share. UMB Financial'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 year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. UMB Financial's dividend payout ratio is currently 18.39%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on UMBF. Truist Financial upped their price target on UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Royal Bank Of Canada increased their target price on UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a research note on Thursday. Bank of America initiated coverage on UMB Financial in a research note on Wednesday, April 16th. They issued a "buy" rating and a $105.00 target price on the stock. Wells Fargo & Company increased their target price on UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Piper Sandler increased their target price on UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $132.11.

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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