Bank of America Corp DE Invests $129.15 Million in UMB Financial Corporation $UMBF

Bank of America Corp DE bought a new position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 904,683 shares of the bank's stock, valued at approximately $129,153,000. Bank of America Corp DE owned 1.19% of UMB Financial at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in UMB Financial in the 2nd quarter valued at $1,458,386,000. Dimensional Fund Advisors LP increased its holdings in shares of UMB Financial by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank's stock worth $328,200,000 after purchasing an additional 55,005 shares during the period. Geode Capital Management LLC increased its holdings in shares of UMB Financial by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,907,978 shares of the bank's stock worth $219,529,000 after purchasing an additional 33,078 shares during the period. First Trust Advisors LP raised its position in shares of UMB Financial by 12.0% during the first quarter. First Trust Advisors LP now owns 899,400 shares of the bank's stock valued at $101,443,000 after buying an additional 96,149 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of UMB Financial during the fourth quarter valued at about $85,885,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at UMB Financial

In other UMB Financial news, insider Phillip Mason sold 800 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $147.00, for a total transaction of $117,600.00. Following the completion of the transaction, the insider directly owned 8,894 shares in the company, valued at $1,307,418. This represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan Murphy sold 1,377 shares of UMB Financial stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $145.55, for a total value of $200,422.35. Following the transaction, the director directly owned 10,635 shares of the company's stock, valued at approximately $1,547,924.25. The trade was a 11.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 25,544 shares of company stock valued at $3,775,862. 5.33% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. began coverage on UMB Financial in a research report on Thursday, August 20th. They set an "overweight" rating and a $180.00 target price on the stock. UBS Group began coverage on UMB Financial in a report on Monday. They issued a "neutral" rating and a $155.00 price target for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of UMB Financial in a research report on Friday, July 24th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $170.00 price objective (up from $168.00) on shares of UMB Financial in a research report on Thursday, July 30th. Finally, Morgan Stanley lifted their price objective on UMB Financial from $159.00 to $190.00 and gave the stock an "overweight" rating in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $167.93.

UMB Financial Stock Performance

NASDAQ:UMBF opened at $134.76 on Friday. The firm has a market capitalization of $10.24 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 0.65 and a beta of 0.77. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. UMB Financial Corporation has a 12-month low of $68.92 and a 12-month high of $144.36. The firm has a 50-day moving average price of $144.08 and a 200 day moving average price of $132.24.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data 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. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The company had revenue of $778.00 million for the quarter, compared to analyst estimates of $727.63 million. During the same period in the prior year, the company posted $2.96 EPS. Research analysts anticipate that UMB Financial Corporation will post 13.54 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $2.00 annualized dividend and a yield of 1.5%. This is a positive change from UMB Financial's previous quarterly dividend of $0.43. UMB Financial's payout ratio is presently 16.65%.

UMB Financial Company Profile

UMB Financial Corporation is a financial services holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to individuals, businesses, institutions and government entities.

The company offers commercial and personal banking products, including deposit accounts, lending, treasury management, wealth management and investment services. UMB also provides institutional banking, fund administration, securities custody, corporate trust and payment solutions through its specialized financial services businesses.

Founded in 1913, UMB serves customers through banking locations and business operations across portions of the Midwest and Western United States, as well as through nationwide institutional and payment-services platforms.

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