Deutsche Bank AG acquired a new position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 92,967 shares of the bank's stock, valued at approximately $13,272,000. Deutsche Bank AG owned about 0.12% of UMB Financial as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased its stake in shares of UMB Financial by 4.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,563 shares of the bank's stock valued at $295,000 after acquiring an additional 102 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of UMB Financial by 3.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,910 shares of the bank's stock worth $335,000 after acquiring an additional 108 shares during the period. Concurrent Investment Advisors LLC boosted its position in shares of UMB Financial by 1.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 6,424 shares of the bank's stock worth $739,000 after acquiring an additional 112 shares during the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of UMB Financial by 1.7% in the 1st quarter. First Citizens Bank & Trust Co. now owns 7,272 shares of the bank's stock valued at $820,000 after purchasing an additional 125 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of UMB Financial by 3.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,908 shares of the bank's stock valued at $450,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company's stock.
Analyst Upgrades and Downgrades
UMBF has been the topic of several research reports. Citigroup reaffirmed a "neutral" rating and issued a $162.00 target price (up from $144.00) on shares of UMB Financial in a research report on Friday, July 31st. Piper Sandler reissued an "overweight" rating and set a $181.00 price target (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. Hovde Group upped their price target on UMB Financial from $145.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Morgan Stanley upped their price target on UMB Financial from $143.00 to $159.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. Finally, Barclays restated an "overweight" rating and issued a $175.00 price objective (up from $170.00) on shares of UMB Financial in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $165.00.
Get Our Latest Research Report on UMBF
Insider Buying and Selling
In other news, Director Susan G. Murphy sold 1,377 shares of the business's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $145.55, for a total transaction of $200,422.35. Following the transaction, the director directly owned 10,635 shares of the company's stock, valued at approximately $1,547,924.25. The trade was a 11.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Phillip James Mason sold 800 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $147.00, for a total transaction of $117,600.00. Following the completion of the transaction, the insider owned 8,894 shares of the company's stock, valued at $1,307,418. This trade represents a 8.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 34,171 shares of company stock valued at $4,919,826 over the last three months. Company insiders own 5.33% of the company's stock.
UMB Financial Trading Down 0.5%
Shares of UMBF opened at $145.14 on Friday. The stock's 50-day moving average is $143.83 and its two-hundred day moving average is $130.39. The stock has a market cap of $11.02 billion, a PE ratio of 12.08, a P/E/G 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 debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76.
UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.12 by $0.45. The business had revenue of $778.00 million during the quarter, compared to analyst estimates of $727.63 million. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.During the same quarter last year, the firm earned $2.96 earnings per share. Equities analysts forecast that UMB Financial Corporation will post 13.48 earnings per share for the current fiscal year.
UMB Financial Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be issued a $0.50 dividend. The ex-dividend date is Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. This is a boost from UMB Financial's previous quarterly dividend of $0.43. UMB Financial's dividend payout ratio (DPR) is currently 14.32%.
UMB Financial Company Profile
(
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
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider UMB Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and UMB Financial wasn't on the list.
While UMB Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
