Bayforest Capital Ltd Increases Holdings in UMB Financial Corporation $UMBF

Key Points

• Bayforest Capital Ltd significantly increased its holdings in UMB Financial Corporation by 3,595.0% during the first quarter, bringing its total to 2,217 shares worth approximately $224,000.
• Insider Robert Brian Beaird sold 1,205 shares of UMB Financial for about $139,984 while Shannon Andresen Johnson sold 1,367 shares for approximately $164,832, reflecting a decrease in their respective holdings.
• UMB Financial announced a quarterly dividend of $0.40 per share, with a yield of 1.3%, to be paid on October 1st, and has reported strong earnings growth with a 76.7% revenue increase year-over-year.

Bayforest Capital Ltd increased its stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 3,595.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,217 shares of the bank's stock after purchasing an additional 2,157 shares during the quarter. Bayforest Capital Ltd's holdings in UMB Financial were worth $224,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. MAI Capital Management grew its position in shares of UMB Financial by 14.7% in the first quarter. MAI Capital Management now owns 771 shares of the bank's stock valued at $78,000 after purchasing an additional 99 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of UMB Financial by 1.4% in the first quarter. SummerHaven Investment Management LLC now owns 9,145 shares of the bank's stock valued at $925,000 after purchasing an additional 122 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of UMB Financial by 4.1% in the first quarter. Crossmark Global Holdings Inc. now owns 3,784 shares of the bank's stock valued at $383,000 after purchasing an additional 150 shares in the last quarter. Heritage Family Offices LLP grew its position in shares of UMB Financial by 7.6% in the first quarter. Heritage Family Offices LLP now owns 2,215 shares of the bank's stock valued at $224,000 after purchasing an additional 156 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of 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 purchasing an additional 172 shares in the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at UMB Financial

In other news, insider Robert Brian Beaird sold 1,205 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $116.17, for a total value of $139,984.85. Following the completion of the transaction, the insider directly owned 10,147 shares in the company, valued at approximately $1,178,776.99. This represents a 10.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shannon Andresen Johnson sold 1,367 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $120.58, for a total value of $164,832.86. Following the completion of the transaction, the insider owned 34,124 shares of the company's stock, valued at $4,114,671.92. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 678 shares of company stock worth $75,948 and sold 20,845 shares worth $2,440,666. 5.45% of the stock is owned by company insiders.

UMB Financial Price Performance

UMBF opened at $121.68 on Friday. The stock has a 50-day moving average price of $112.70 and a 200-day moving average price of $104.84. UMB Financial Corporation has a 12-month low of $82.00 and a 12-month 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 stock has a market capitalization of $9.24 billion, a P/E ratio of 13.99, a PEG ratio of 1.39 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The firm had revenue of $689.21 million during the quarter, compared to analysts' expectations of $638.25 million. During the same period in the prior year, the business earned $2.16 EPS. The company's revenue for the quarter was up 76.7% compared to the same quarter last year. Equities analysts predict that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, September 10th. UMB Financial's dividend payout ratio is presently 18.39%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on UMBF. Piper Sandler lifted their price target on UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Truist Financial boosted their target price on UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a research report on Monday. Raymond James Financial boosted their target price on UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 31st. Wells Fargo & Company boosted their target price on UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Barclays boosted their target price on UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, UMB Financial currently has an average rating of "Moderate Buy" and an average price target of $133.89.

UMB Financial 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.

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