Avantax Planning Partners Inc. Acquires Shares of 2,703 UMB Financial Corporation (NASDAQ:UMBF)

Avantax Planning Partners Inc. bought a new position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,703 shares of the bank's stock, valued at approximately $273,000.

Several other large investors have also recently bought and sold shares of the stock. Rothschild Investment LLC raised its stake in shares of UMB Financial by 442.0% during the 1st quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after purchasing an additional 221 shares in the last quarter. Versant Capital Management Inc raised its position in UMB Financial by 703.2% during the first quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock worth $50,000 after acquiring an additional 436 shares in the last quarter. Covestor Ltd lifted its stake in 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 acquiring an additional 124 shares during the last quarter. Fifth Third Bancorp lifted its stake in UMB Financial by 38.1% in the first quarter. Fifth Third Bancorp now owns 624 shares of the bank's stock valued at $63,000 after acquiring an additional 172 shares during the last quarter. Finally, Marquette Asset Management LLC bought a new position in shares of UMB Financial in the 1st quarter valued at about $82,000. 87.78% of the stock is owned by institutional investors and hedge funds.

UMB Financial Trading Down 1.3%

UMBF stock traded down $1.39 during trading on Monday, hitting $108.96. The company had a trading volume of 537,923 shares, compared to its average volume of 545,576. The stock has a market cap of $8.27 billion, a PE ratio of 13.71, a PEG ratio of 1.29 and a beta of 0.74. UMB Financial Corporation has a one year low of $81.01 and a one year high of $129.94. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average of $103.30 and a 200-day moving average of $105.45.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.37. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The business had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. During the same quarter in the previous year, the business earned $2.47 earnings per share. UMB Financial's revenue for the quarter was up 41.4% on a year-over-year basis. Research analysts predict that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.47%. UMB Financial's payout ratio is 20.13%.

Insider Buying and Selling

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the transaction, the chief executive officer directly owned 288,945 shares of the company's stock, valued at approximately $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.45% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on UMBF. Wells Fargo & Company raised their price objective on UMB Financial from $105.00 to $110.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Bank of America started coverage on UMB Financial in a report on Wednesday, April 16th. They set a "buy" rating and a $105.00 target price on the stock. Royal Bank Of Canada lowered their price objective on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Truist Financial began coverage on shares of UMB Financial in a report on Tuesday, May 13th. They set a "buy" rating and a $120.00 price target on the stock. Finally, Barclays lowered their target price on UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $122.88.

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.