Commerce Bank acquired a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 29,401 shares of the bank's stock, valued at approximately $4,197,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV raised its position in shares of UMB Financial by 4.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,563 shares of the bank's stock worth $295,000 after acquiring an additional 102 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of UMB Financial by 3.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,910 shares of the bank's stock valued at $335,000 after purchasing an additional 108 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of UMB Financial by 1.8% during the fourth quarter. Concurrent Investment Advisors LLC now owns 6,424 shares of the bank's stock valued at $739,000 after purchasing an additional 112 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in UMB Financial by 1.7% in the first quarter. First Citizens Bank & Trust Co. now owns 7,272 shares of the bank's stock worth $820,000 after purchasing an additional 125 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in UMB Financial by 3.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,908 shares of the bank's stock worth $450,000 after purchasing an additional 129 shares during the period. Hedge funds and other institutional investors own 87.78% of the company's stock.
Insider Buying and Selling
In related news, insider Nikki Farentino Newton sold 2,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $148.60, for a total transaction of $297,200.00. Following the sale, the insider directly owned 11,981 shares of the company's stock, valued at approximately $1,780,376.60. This represents a 14.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Brian Beaird sold 1,600 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $144.40, for a total transaction of $231,040.00. Following the sale, the insider owned 8,943 shares of the company's stock, valued at approximately $1,291,369.20. This represents a 15.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 34,171 shares of company stock worth $4,919,826 over the last quarter. 5.33% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities analysts have commented on UMBF shares. Barclays reissued an "overweight" rating and set a $175.00 price objective (up from $170.00) on shares of UMB Financial in a research report on Monday, August 3rd. Zacks Research downgraded shares of UMB Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 30th. Wells Fargo & Company set a $160.00 price target on shares of UMB Financial and gave the stock an "equal weight" rating in a research note on Monday, August 10th. TD Cowen reissued a "buy" rating and set a $166.00 price target (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 price objective (up from $168.00) on shares of UMB Financial in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $165.00.
Get Our Latest Analysis on UMB Financial
UMB Financial Stock Down 0.8%
Shares of NASDAQ:UMBF opened at $143.96 on Tuesday. The stock has a fifty day simple moving average of $144.02 and a two-hundred day simple moving average of $130.52. The stock has a market capitalization of $10.93 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 0.71 and a beta of 0.77. UMB Financial Corporation has a 12-month low of $103.38 and a 12-month high of $153.32. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.
UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, topping the consensus estimate of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The business had revenue of $778.00 million for the quarter, compared to the consensus estimate of $727.63 million. During the same period in the previous year, the company posted $2.96 earnings per share. On average, research analysts anticipate that UMB Financial Corporation will post 13.48 earnings per share for the current fiscal year.
UMB Financial Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, September 10th. This is a positive change from UMB Financial's previous quarterly dividend of $0.43. UMB Financial's dividend payout ratio (DPR) is presently 16.65%.
About UMB Financial
(
Free Report)
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.
Further Reading
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