Avantax Planning Partners Inc. Makes New $273,000 Investment in UMB Financial Corporation (NASDAQ:UMBF)

Avantax Planning Partners Inc. bought a new stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,703 shares of the bank's stock, valued at approximately $273,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in UMB Financial by 4.3% in the first quarter. Principal Financial Group Inc. now owns 839,773 shares of the bank's stock valued at $84,901,000 after acquiring an additional 34,583 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in UMB Financial by 54.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,916 shares of the bank's stock valued at $1,407,000 after acquiring an additional 4,900 shares during the last quarter. Teacher Retirement System of Texas increased its stake in UMB Financial by 96.3% in the first quarter. Teacher Retirement System of Texas now owns 15,723 shares of the bank's stock valued at $1,590,000 after acquiring an additional 7,715 shares during the last quarter. JNBA Financial Advisors bought a new position in UMB Financial in the first quarter valued at $186,000. Finally, Ameritas Advisory Services LLC bought a new position in UMB Financial in the first quarter valued at $223,000. Institutional investors own 87.78% of the company's stock.

UMB Financial Trading Up 0.8%

Shares of UMB Financial stock traded up $0.92 during trading on Friday, reaching $110.35. 301,436 shares of the stock were exchanged, compared to its average volume of 545,520. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. The stock's fifty day moving average is $103.30 and its 200 day moving average is $105.51. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.74. UMB Financial Corporation has a 1 year low of $81.01 and a 1 year high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.37. The company had revenue of $563.84 million during the quarter, compared to analyst estimates of $555.79 million. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. UMB Financial's revenue for the quarter was up 41.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.47 earnings per share. As a group, equities research analysts expect 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 was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.45%. UMB Financial's dividend payout ratio is currently 20.13%.

Analysts Set New Price Targets

A number of research firms recently commented on UMBF. Truist Financial began coverage on UMB Financial in a research note on Tuesday, May 13th. They issued a "buy" rating and a $120.00 target price on the stock. Barclays cut their price target on shares of UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company upped their price target on shares of UMB Financial from $105.00 to $110.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Wall Street Zen lowered shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Finally, Piper Sandler set a $135.00 price target on shares of UMB Financial and gave the company an "overweight" rating in a research report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $122.88.

Insider Buying and Selling at UMB Financial

In other 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 transaction of $550,995.72. Following the completion of the sale, the chief executive officer directly owned 288,945 shares in the company, valued at approximately $29,417,490.45. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.45% of the company's stock.

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.