Bessemer Group Inc. Purchases 280,785 Shares of UMB Financial Corporation $UMBF

Key Points

• Bessemer Group Inc. dramatically increased its stake in UMB Financial during the first quarter, buying 280,785 shares and bringing its total holding to 281,238 shares valued at about $31.7 million.
• UMB Financial reported better-than-expected quarterly earnings, posting EPS of $3.41 versus the $2.82 estimate, while revenue rose 31.1% year over year to $739.16 million.
• The bank also paid a quarterly dividend of $0.43 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $152.17.

Bessemer Group Inc. boosted its position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 61,983.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,238 shares of the bank's stock after purchasing an additional 280,785 shares during the quarter. Bessemer Group Inc. owned about 0.37% of UMB Financial worth $31,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. MBM Wealth Consultants LLC bought a new position in shares of UMB Financial in the first quarter worth $26,000. Kemnay Advisory Services Inc. purchased a new stake in shares of UMB Financial in the fourth quarter worth $27,000. Hilton Head Capital Partners LLC bought a new stake in UMB Financial during the fourth quarter valued at $34,000. Torren Management LLC bought a new stake in UMB Financial during the fourth quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC grew its position in UMB Financial by 193.5% during the second quarter. EverSource Wealth Advisors LLC now owns 405 shares of the bank's stock worth $43,000 after buying an additional 267 shares in the last quarter. 87.78% of the stock is owned by institutional investors.

UMB Financial Stock Down 1.4%

Shares of NASDAQ:UMBF opened at $145.99 on Friday. UMB Financial Corporation has a 52-week low of $103.38 and a 52-week high of $148.31. The firm has a fifty day moving average of $135.70 and a 200 day moving average of $126.06. The firm has a market capitalization of $11.09 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 0.81 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.59. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The business had revenue of $739.16 million for the quarter, compared to the consensus estimate of $701.79 million. During the same quarter last year, the business posted $2.58 earnings per share. The company's revenue for the quarter was up 31.1% on a year-over-year basis. As a group, research analysts anticipate that UMB Financial Corporation will post 12.85 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, June 10th. UMB Financial's dividend payout ratio (DPR) is currently 15.26%.

Insider Transactions at UMB Financial

In other UMB Financial news, President James D. Rine sold 8,246 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the transaction, the president directly owned 61,446 shares in the company, valued at $8,147,125.14. This trade represents a 11.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin Charles Gallagher sold 381 shares of UMB Financial stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total transaction of $50,627.28. Following the transaction, the director directly owned 12,223 shares in the company, valued at $1,624,192.24. This trade represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.33% of the company's stock.

Analyst Ratings Changes

UMBF has been the topic of a number of research analyst reports. Hovde Group upped their target price on UMB Financial from $145.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Piper Sandler lifted their price target on UMB Financial from $155.00 to $161.00 and gave the company an "overweight" rating in a research report on Friday, June 26th. Zacks Research lowered UMB Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 30th. Truist Financial upped their price objective on shares of UMB Financial from $140.00 to $161.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Finally, Citigroup raised their target price on shares of UMB Financial from $138.00 to $144.00 and gave the company a "neutral" rating in a research note on Thursday, June 25th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $152.17.

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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