Allspring Global Investments Holdings LLC Buys 174,088 Shares of UMB Financial Corporation (NASDAQ:UMBF)

Allspring Global Investments Holdings LLC grew its stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,912,883 shares of the bank's stock after buying an additional 174,088 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 2.52% of UMB Financial worth $192,302,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Freestone Grove Partners LP purchased a new stake in UMB Financial in the 4th quarter worth approximately $48,235,000. Adage Capital Partners GP L.L.C. increased its holdings in UMB Financial by 298.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 301,708 shares of the bank's stock worth $34,051,000 after acquiring an additional 225,908 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of UMB Financial by 22,173.3% in the fourth quarter. Point72 Asset Management L.P. now owns 176,627 shares of the bank's stock worth $19,934,000 after purchasing an additional 175,834 shares in the last quarter. Norges Bank purchased a new stake in shares of UMB Financial in the fourth quarter worth $15,835,000. Finally, Wellington Management Group LLP increased its stake in shares of UMB Financial by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 2,021,285 shares of the bank's stock worth $228,122,000 after purchasing an additional 102,104 shares in the last quarter. Hedge funds and other institutional investors own 87.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on UMBF shares. Wells Fargo & Company increased their price objective on shares of UMB Financial from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Royal Bank Of Canada cut their price target on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Truist Financial assumed coverage on UMB Financial in a research note on Tuesday, May 13th. They issued a "buy" rating and a $120.00 price target for the company. Piper Sandler set a $135.00 target price on UMB Financial and gave the stock an "overweight" rating in a research report on Friday, June 13th. Finally, Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $122.88.

Insider Activity

In related news, CEO J Mariner Kemper sold 5,412 shares of the stock in a transaction dated 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 now owns 288,945 shares of the company's stock, valued at approximately $29,417,490.45. This trade represents a 1.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.45% of the company's stock.

UMB Financial Price Performance

Shares of UMBF traded down $0.12 during midday trading on Friday, hitting $106.02. 1,784,958 shares of the company traded hands, compared to its average volume of 544,106. The firm has a 50 day moving average of $101.59 and a 200-day moving average of $106.17. UMB Financial Corporation has a 52 week low of $81.01 and a 52 week high of $129.94. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.24 and a beta of 0.75. 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 announced its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.37. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. The company had revenue of $563.84 million during the quarter, compared to analyst estimates of $555.79 million. During the same period in the prior year, the company earned $2.47 earnings per share. The firm's revenue was up 41.4% on a year-over-year basis. On average, analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.51%. UMB Financial's dividend payout ratio is currently 20.13%.

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.