4,301 Shares in UMB Financial Corporation $UMBF Acquired by United Services Automobile Association

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 bought a new position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,301 shares of the bank's stock, valued at approximately $431,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position 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 last quarter. OneDigital Investment Advisors LLC lifted its position in shares of 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 buying an additional 509 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of 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 buying an additional 7,715 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of 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 buying an additional 1,664 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in shares of UMB Financial during the 1st quarter valued at about $237,000. Hedge funds and other institutional investors own 87.78% of the company's stock.

Analyst Ratings Changes

UMBF has been the topic of a number of analyst reports. Raymond James Financial lifted their price objective on UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 31st. Royal Bank Of Canada raised their price objective on shares of UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Barclays raised their price objective on shares of UMB Financial from $140.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Truist Financial raised their price objective on shares of UMB Financial from $130.00 to $144.00 and gave the company a "buy" rating in a research report on Monday. Finally, Piper Sandler raised their price objective on shares of UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $133.89.

Insider Buying and Selling

In other news, insider Shannon Andresen Johnson sold 1,367 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $120.58, for a total transaction of $164,832.86. Following the sale, the insider directly owned 34,124 shares of the company's stock, valued at $4,114,671.92. This represents a 3.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Phillip James Mason sold 750 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $120.97, for a total value of $90,727.50. Following the sale, the insider directly owned 8,815 shares in the company, valued at $1,066,350.55. This trade represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders bought 678 shares of company stock worth $75,948 and sold 20,845 shares worth $2,440,666. 5.45% of the stock is currently owned by company insiders.

UMB Financial Stock Down 0.3%

NASDAQ UMBF opened at $121.99 on Thursday. The stock's 50 day moving average is $112.46 and its 200 day moving average is $104.72. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $129.94. The stock has a market cap of $9.26 billion, a PE ratio of 14.02, a P/E/G ratio of 1.39 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 EPS for the quarter, topping analysts' consensus estimates 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 in the previous year, the firm earned $2.16 EPS. The firm's revenue was up 76.7% compared to the same quarter last year. Research analysts predict that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 1.3%. UMB Financial's payout ratio is currently 18.39%.

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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