Angel Oak Capital Advisors LLC Purchases New Stake in UMB Financial Corporation (NASDAQ:UMBF)

Key Points

• Angel Oak Capital Advisors LLC acquired 9,700 shares of UMB Financial Corporation in Q1, valued at approximately $981,000, making the stock its 14th largest holding.
• Other institutional investors, including Vanguard Group Inc. and Charles Schwab Investment Management Inc., increased their stakes, highlighting strong institutional interest with about 87.78% of the stock owned by hedge funds and other institutional investors.
• UMB Financial recently announced a quarterly dividend of $0.40 per share, with a payout ratio of 18.39%, and reported an EPS of $2.96 for the last quarter, beating analysts' expectations.

Angel Oak Capital Advisors LLC acquired a new stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,700 shares of the bank's stock, valued at approximately $981,000. UMB Financial comprises about 1.3% of Angel Oak Capital Advisors LLC's portfolio, making the stock its 14th largest position.

Other large investors have also made changes to their positions in the company. Rothschild Investment LLC boosted its holdings in UMB Financial by 442.0% during the first quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after buying an additional 221 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in UMB Financial during the first quarter worth $27,000. Neo Ivy Capital Management acquired a new stake in shares of UMB Financial in the first quarter valued at about $42,000. Versant Capital Management Inc raised its position in shares of UMB Financial by 703.2% in the first quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock valued at $50,000 after buying an additional 436 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of UMB Financial by 28.8% in the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock valued at $63,000 after buying an additional 124 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of UMB Financial stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the transaction, the chief executive officer owned 288,945 shares of the company's stock, valued at $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Greg M. Graves acquired 261 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average price of $107.58 per share, for a total transaction of $28,078.38. Following the completion of the purchase, the director owned 37,800 shares of the company's stock, valued at approximately $4,066,524. This represents a 0.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.45% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on UMBF. Wall Street Zen cut shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Bank of America began coverage on shares of UMB Financial in a research report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 target price for the company. Barclays raised their price objective on shares of UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Wells Fargo & Company raised their price objective on shares of UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Piper Sandler increased their target price on shares of UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $132.11.

UMB Financial Price Performance

Shares of NASDAQ:UMBF traded down $0.38 on Monday, reaching $109.80. 322,182 shares of the company were exchanged, compared to its average volume of 620,823. 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 1-year low of $82.00 and a 1-year high of $129.94. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 1.25 and a beta of 0.77. The company has a 50-day moving average of $105.59 and a 200-day moving average of $103.57.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 EPS for the quarter, beating analysts' consensus estimates of $2.35 by $0.61. The firm had revenue of $689.21 million for the quarter, compared to analysts' expectations of $638.25 million. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The firm's revenue was up 76.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.16 EPS. Equities analysts forecast that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal 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. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Wednesday, September 10th. UMB Financial's dividend payout ratio is 18.39%.

About UMB Financial

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.