Canada Pension Plan Investment Board Purchases New Stake in UMB Financial Corporation $UMBF

Key Points

• Canada Pension Plan Investment Board acquired 12,700 shares of UMB Financial valued at approximately $1.8 million during the second quarter. Institutional investors collectively own 87.78% of the company.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $166.54; recent targets range from $160 to $181.
• UMB Financial exceeded quarterly earnings expectations, reporting $3.57 in EPS versus $3.12 estimated, and raised its quarterly dividend to $0.50, equivalent to a 1.4% annual yield.

Canada Pension Plan Investment Board acquired a new position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,700 shares of the bank's stock, valued at approximately $1,813,000.

A number of other hedge funds have also recently added to or reduced their stakes in UMBF. MBM Wealth Consultants LLC acquired a new stake in shares of UMB Financial during the first quarter worth $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of UMB Financial in the 4th quarter valued at about $27,000. Axiom Investment Management LLC acquired a new position in shares of UMB Financial in the 1st quarter valued at about $28,000. Hilton Head Capital Partners LLC acquired a new position in shares of UMB Financial in the 4th quarter valued at about $34,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of UMB Financial during the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 87.78% of the company's stock.

Wall Street Analyst Weigh In

UMBF has been the subject of several recent research reports. Raymond James Financial began coverage on UMB Financial in a report on Thursday. They set an "outperform" rating and a $165.00 target price for the company. Keefe, Bruyette & Woods raised their price target on UMB Financial from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Thursday, July 30th. Piper Sandler restated an "overweight" rating and set a $181.00 price objective (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. Weiss Ratings restated a "buy (b)" rating on shares of UMB Financial in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. initiated coverage on UMB Financial in a research report on Thursday, August 20th. They issued an "overweight" rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, UMB Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $166.54.

UMB Financial Stock Performance

UMB Financial stock opened at $144.59 on Monday. UMB Financial Corporation has a 52-week low of $103.38 and a 52-week high of $153.32. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 0.71 and a beta of 0.77. The firm has a 50-day moving average price of $144.86 and a two-hundred day moving average price of $130.83.

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

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be given a $0.50 dividend. The ex-dividend date is Thursday, September 10th. This represents a $2.00 annualized dividend and a yield of 1.4%. This is an increase from UMB Financial's previous quarterly dividend of $0.43. UMB Financial's payout ratio is 16.65%.

Insider Transactions at UMB Financial

In other UMB Financial news, Director Susan G. Murphy sold 1,377 shares of UMB Financial stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $145.55, for a total transaction of $200,422.35. Following the sale, the director owned 10,635 shares of the company's stock, valued at $1,547,924.25. The trade was a 11.46% decrease in their position. 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 360 shares of the business's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $145.13, for a total value of $52,246.80. Following the transaction, the director owned 11,863 shares of the company's stock, valued at $1,721,677.19. This trade represents a 2.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 34,171 shares of company stock worth $4,919,826 over the last quarter. Insiders own 5.33% of the company's stock.

UMB Financial Profile

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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