Bank of New York Mellon Corp Takes Position in UMB Financial Corporation $UMBF

Key Points

• Bank of New York Mellon acquired a new 549,240-share stake in UMB Financial worth approximately $78.4 million, representing about 0.72% of the company. Institutional investors collectively owned 87.78% of the stock.
• Analysts maintained a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $165, compared with the stock’s reported price of $143.57.
• UMB Financial exceeded quarterly earnings and revenue expectations, reporting $3.57 in EPS and $778 million in revenue. The company also raised its quarterly dividend from $0.43 to $0.50 per share, implying a 1.4% annualized yield.

Bank of New York Mellon Corp acquired a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 549,240 shares of the bank's stock, valued at approximately $78,410,000. Bank of New York Mellon Corp owned approximately 0.72% of UMB Financial as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of UMBF. MBM Wealth Consultants LLC bought a new stake in shares of UMB Financial during the first quarter valued at approximately $26,000. Kemnay Advisory Services Inc. purchased a new stake in UMB Financial during the 4th quarter valued at $27,000. Axiom Investment Management LLC purchased a new stake in UMB Financial during the 1st quarter valued at $28,000. Hilton Head Capital Partners LLC purchased a new stake in UMB Financial during the 4th quarter valued at $34,000. Finally, Torren Management LLC bought a new stake in shares of UMB Financial in the 4th quarter worth $37,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on UMBF shares. Truist Financial set a $170.00 price target on UMB Financial and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Barclays reiterated an "overweight" rating and issued a $175.00 price objective (up from $170.00) on shares of UMB Financial in a report on Monday, August 3rd. Wells Fargo & Company set a $160.00 target price on UMB Financial and gave the stock an "equal weight" rating in a research report on Monday, August 10th. Royal Bank Of Canada restated an "outperform" rating and set a $170.00 target price (up from $168.00) on shares of UMB Financial in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. started coverage on shares of UMB Financial in a report on Thursday, August 20th. They set an "overweight" rating and a $180.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $165.00.

UMB Financial Stock Performance

UMBF stock opened at $143.57 on Wednesday. The company has a market cap of $10.90 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 0.71 and a beta of 0.77. UMB Financial Corporation has a 1 year low of $103.38 and a 1 year high of $153.32. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76. The stock's fifty day moving average price is $144.19 and its 200-day moving average price is $130.61.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, beating analysts' consensus estimates of $3.12 by $0.45. The company had revenue of $778.00 million for the quarter, compared to the consensus estimate of $727.63 million. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.During the same quarter in the prior year, the company earned $2.96 earnings per share. On average, equities analysts forecast that UMB Financial Corporation will post 13.48 earnings per share for the current year.

UMB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be given a $0.50 dividend. The ex-dividend date is Thursday, September 10th. This is a boost from UMB Financial's previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a yield of 1.4%. UMB Financial's payout ratio is 14.32%.

Insider Buying and Selling at UMB Financial

In other news, insider Robert Brian Beaird sold 1,600 shares of UMB Financial stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $144.40, for a total transaction of $231,040.00. Following the transaction, the insider directly owned 8,943 shares of the company's stock, valued at $1,291,369.20. The trade was a 15.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nikki Farentino Newton sold 2,000 shares of UMB Financial stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $148.60, for a total transaction of $297,200.00. Following the transaction, the insider directly owned 11,981 shares in the company, valued at $1,780,376.60. This represents a 14.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 34,171 shares of company stock worth $4,919,826. Insiders own 5.33% of the company's stock.

About UMB Financial

UMB Financial Corporation NASDAQ: UMBF is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.

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