UMB Financial Corporation $UMBF Holdings Raised by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in UMB Financial Corporation by 44.3% in the first quarter, holding over 813,000 shares worth $82.27 million.
• The company reported earnings of $2.96 per share for the last quarter, exceeding analysts' expectations and a year-over-year revenue growth of 76.7%.
• UMB Financial announced a quarterly dividend of $0.40 per share to be paid on October 1, reflecting an annualized dividend yield of 1.4%.

Charles Schwab Investment Management Inc. raised its stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 44.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 813,757 shares of the bank's stock after purchasing an additional 249,995 shares during the period. Charles Schwab Investment Management Inc. owned 1.07% of UMB Financial worth $82,271,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in UMB Financial by 21.1% during the 1st quarter. Bank of New York Mellon Corp now owns 546,483 shares of the bank's stock worth $55,249,000 after purchasing an additional 95,339 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in shares of UMB Financial by 27.4% in the first quarter. OneDigital Investment Advisors LLC now owns 2,367 shares of the bank's stock worth $239,000 after acquiring an additional 509 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of UMB Financial by 96.3% in the first quarter. Teacher Retirement System of Texas now owns 15,723 shares of the bank's stock worth $1,590,000 after acquiring an additional 7,715 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of UMB Financial by 2.8% in the first quarter. New York State Teachers Retirement System now owns 60,376 shares of the bank's stock worth $6,104,000 after acquiring an additional 1,664 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in UMB Financial in the 1st quarter valued at $237,000. Institutional investors and hedge funds own 87.78% of the company's stock.

UMB Financial Stock Down 0.3%

NASDAQ:UMBF traded down $0.33 during mid-day trading on Monday, reaching $114.75. The stock had a trading volume of 98,415 shares, compared to its average volume of 660,319. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.31 and a beta of 0.77. The stock's 50 day simple moving average is $106.42 and its two-hundred day simple moving average is $103.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. UMB Financial Corporation has a 1-year low of $82.00 and a 1-year high of $129.94.

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

UMB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, September 10th. UMB Financial's payout ratio is presently 18.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wall Street Zen lowered UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Piper Sandler increased their price objective on shares of 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 raised their price target on shares of UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a report on Friday, July 11th. Raymond James Financial raised their price target on shares of UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. Finally, Barclays raised their target price on UMB Financial from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.11.

Insider Buying and Selling at UMB Financial

In related news, insider Robert Brian Beaird sold 1,205 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $116.17, for a total transaction of $139,984.85. Following the completion of the transaction, the insider owned 10,147 shares in the company, valued at $1,178,776.99. The trade was a 10.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Greg M. Graves purchased 261 shares of UMB Financial stock in a transaction dated Friday, August 1st. The shares were purchased at an average cost of $107.58 per share, with a total value of $28,078.38. Following the acquisition, the director owned 37,800 shares of the company's stock, valued at approximately $4,066,524. This trade represents a 0.70% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 22,140 shares of company stock worth $2,496,771 over the last ninety days. Company insiders own 5.45% of the company's stock.

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.