Boothbay Fund Management LLC Invests $6.89 Million in UMB Financial Corporation $UMBF

Key Points

• Boothbay Fund Management LLC acquired a new stake in UMB Financial Corporation valued at approximately $6.89 million, purchasing 68,131 shares in the first quarter.
• Vanguard Group Inc. significantly increased its holdings in UMB Financial by 54%, owning now over 7.33 million shares worth about $741 million after additional purchases.
• UMB Financial reported impressive earnings, with $2.96 EPS for the last quarter, surpassing analysts' estimates and showing a 76.7% increase in revenue year-over-year.

Boothbay Fund Management LLC 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 68,131 shares of the bank's stock, valued at approximately $6,888,000. Boothbay Fund Management LLC owned about 0.09% of UMB Financial as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in UMBF. Vanguard Group Inc. raised its stake in UMB Financial by 54.0% during the 1st quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank's stock worth $741,342,000 after acquiring an additional 2,570,283 shares during the period. Earnest Partners LLC bought a new stake in UMB Financial in the 1st quarter valued at $144,351,000. Dimensional Fund Advisors LP increased its holdings in UMB Financial by 78.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank's stock valued at $273,029,000 after acquiring an additional 1,185,671 shares during the last quarter. Nuveen LLC bought a new position in UMB Financial during the first quarter valued at $51,324,000. Finally, Wellington Management Group LLP lifted its position in UMB Financial by 19.1% during the first quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank's stock valued at $243,359,000 after purchasing an additional 385,830 shares during the last quarter. 87.78% of the stock is owned by institutional investors.

UMB Financial Stock Up 0.9%

Shares of UMBF traded up $1.12 during mid-day trading on Monday, hitting $125.59. 707,323 shares of the company's stock were exchanged, compared to its average volume of 652,002. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. The stock's 50-day moving average is $111.66 and its 200-day moving average is $104.42.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $638.25 million. During the same period in the prior year, the company posted $2.16 earnings per share. The firm's quarterly revenue was up 76.7% compared to the same quarter last year. On average, sell-side analysts anticipate 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 will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 10th. UMB Financial's payout ratio is presently 18.39%.

Analyst Upgrades and Downgrades

UMBF has been the subject of several research analyst reports. Raymond James Financial lifted 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. Royal Bank Of Canada increased their price target on UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Piper Sandler increased their price target on UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Truist Financial boosted their target price on shares of UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a report on Monday. Finally, Barclays upped their price objective on shares of UMB Financial from $140.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $133.89.

Insiders Place Their Bets

In other news, EVP Amy Harris sold 500 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $122.02, for a total transaction of $61,010.00. Following the completion of the sale, the executive vice president directly owned 7,285 shares of the company's stock, valued at $888,915.70. This trade represents a 6.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Greg M. Graves acquired 234 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were bought at an average cost of $120.44 per share, for a total transaction of $28,182.96. Following the completion of the transaction, the director directly owned 38,034 shares of the company's stock, valued at $4,580,814.96. This represents a 0.62% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 678 shares of company stock valued at $75,948 and have sold 20,845 shares valued at $2,440,666. 5.45% of the stock is currently owned by corporate insiders.

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.