68,730 Shares in UMB Financial Corporation $UMBF Purchased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 68,730 shares of UMB Financial worth approximately $9.8 million, while institutional investors collectively owned 87.78% of the stock.
• UMB Financial exceeded quarterly earnings expectations, reporting $3.57 in EPS versus the $3.12 consensus and revenue of $778 million versus $727.63 million expected.
• The company increased its quarterly dividend to $0.50 per share, implying a 1.4% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $166.54, compared with the reported share price of $144.59.

The Manufacturers Life Insurance Company acquired a new position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 68,730 shares of the bank's stock, valued at approximately $9,812,000. The Manufacturers Life Insurance Company owned about 0.09% of UMB Financial at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new position in shares of UMB Financial during the 2nd quarter valued at approximately $1,458,386,000. Alliancebernstein L.P. boosted its stake in UMB Financial by 636.7% during the second quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank's stock worth $156,543,000 after buying an additional 1,286,543 shares during the period. Wellington Management Group LLP boosted its stake in UMB Financial by 32.0% during the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank's stock worth $366,743,000 after buying an additional 751,525 shares during the period. Norges Bank bought a new position in UMB Financial during the fourth quarter valued at $85,885,000. Finally, Bank of New York Mellon Corp bought a new position in UMB Financial during the second quarter valued at $78,410,000. 87.78% of the stock is owned by institutional investors.

Insider Buying and Selling at UMB Financial

In other news, insider Nikki Farentino Newton sold 2,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total transaction of $297,200.00. Following the transaction, the insider owned 11,981 shares in the company, valued at approximately $1,780,376.60. This trade represents a 14.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Phillip James Mason sold 800 shares of UMB Financial stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $147.00, for a total value of $117,600.00. Following the completion of the sale, the insider owned 8,894 shares of the company's stock, valued at $1,307,418. The trade was a 8.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 34,171 shares of company stock worth $4,919,826 over the last quarter. Insiders own 5.33% of the company's stock.

UMB Financial Price Performance

Shares of UMBF stock opened at $144.59 on Friday. The company has a market capitalization of $10.98 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.71 and a beta of 0.77. The company's 50-day simple moving average is $144.86 and its two-hundred day simple moving average is $130.85. UMB Financial Corporation has a one year low of $103.38 and a one year high of $153.32. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.45. The firm had revenue of $778.00 million during the quarter, compared to the consensus estimate of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same quarter in the previous year, the firm posted $2.96 earnings per share. As a group, equities analysts anticipate that UMB Financial Corporation will post 13.48 EPS for the current year.

UMB Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be given a dividend of $0.50 per share. This is a boost from UMB Financial's previous quarterly dividend of $0.43. 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%. UMB Financial's dividend payout ratio is presently 14.32%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on UMBF shares. JPMorgan Chase & Co. assumed coverage on shares of UMB Financial in a report on Thursday, August 20th. They issued an "overweight" rating and a $180.00 target price for the company. Zacks Research cut UMB Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods increased their price target on UMB Financial from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Thursday, July 30th. Stephens started coverage on UMB Financial in a research note on Tuesday, July 14th. They set an "overweight" rating and a $167.00 price target for the company. Finally, Truist Financial set a $170.00 price objective on UMB Financial and gave the company a "buy" rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, UMB Financial currently has an average rating of "Moderate Buy" and a consensus target price of $166.54.

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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