United Services Automobile Association Makes New $431,000 Investment in UMB Financial Corporation $UMBF

Key Points

• United Services Automobile Association acquired 4,301 shares of UMB Financial Corporation valued at approximately $431,000 during the first quarter of 2023.
• UMB Financial has seen significant stock recommendations from analysts, with price targets raised by several firms, including Barclays and Truist Financial, highlighting a generally positive outlook for the company.
• Insider activity noted recently includes the sale of shares by insiders, with Shannon Andresen Johnson selling 1,367 shares, revealing a 3.85% decrease in their position.

United Services Automobile Association acquired a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,301 shares of the bank's stock, valued at approximately $431,000.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in UMB Financial by 21.1% during the 1st quarter. Bank of New York Mellon Corp now owns 546,483 shares of the bank's stock valued at $55,249,000 after purchasing an additional 95,339 shares during the last quarter. OneDigital Investment Advisors LLC lifted its stake in UMB Financial by 27.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 2,367 shares of the bank's stock valued at $239,000 after acquiring an additional 509 shares during the period. Teacher Retirement System of Texas lifted its stake in UMB Financial by 96.3% during the 1st quarter. Teacher Retirement System of Texas now owns 15,723 shares of the bank's stock valued at $1,590,000 after acquiring an additional 7,715 shares during the period. New York State Teachers Retirement System lifted its stake in UMB Financial by 2.8% during the 1st quarter. New York State Teachers Retirement System now owns 60,376 shares of the bank's stock valued at $6,104,000 after acquiring an additional 1,664 shares during the period. Finally, M&T Bank Corp bought a new position in UMB Financial during the 1st quarter valued at about $237,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at UMB Financial

In related news, Director Greg M. Graves purchased 234 shares of UMB Financial stock in a transaction dated Tuesday, September 2nd. The shares were acquired at an average price of $120.44 per share, for a total transaction of $28,182.96. Following the acquisition, the director directly owned 38,034 shares in the company, valued at approximately $4,580,814.96. The trade was a 0.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shannon Andresen Johnson sold 1,367 shares of UMB Financial stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $120.58, for a total value of $164,832.86. Following the transaction, the insider owned 34,124 shares in the company, valued at approximately $4,114,671.92. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 678 shares of company stock worth $75,948 and have sold 20,845 shares worth $2,440,666. Company insiders own 5.45% of the company's stock.

UMB Financial Price Performance

UMB Financial stock traded down $2.45 during trading on Tuesday, reaching $117.96. The company had a trading volume of 72,450 shares, compared to its average volume of 642,760. The firm's 50-day simple moving average is $113.07 and its 200 day simple moving average is $105.04. UMB Financial Corporation has a 1-year low of $82.00 and a 1-year high of $129.94. The firm has a market capitalization of $8.96 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.37 and a beta of 0.77. 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 results on Tuesday, July 29th. The bank reported $2.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The firm had revenue of $689.21 million for the quarter, compared to analysts' expectations of $638.25 million. During the same quarter last year, the company earned $2.16 EPS. The firm's revenue for the quarter was up 76.7% compared to the same quarter last year. As a group, equities research analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 10th. UMB Financial's payout ratio is 18.39%.

Analysts Set New Price Targets

Several equities analysts have issued reports on UMBF shares. Truist Financial upped their target price on shares of UMB Financial from $130.00 to $144.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Royal Bank Of Canada lifted their price target on shares of UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Raymond James Financial lifted their price objective on shares of UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 31st. Wells Fargo & Company upped their price target on shares of UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Finally, Piper Sandler upped their price target on shares of UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $133.89.

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.