Dimensional Fund Advisors LP Acquires 1,185,671 Shares of UMB Financial Corporation $UMBF

Key Points

• Dimensional Fund Advisors LP has increased its stake in UMB Financial Corporation by 78.3%, owning approximately 3.56% of the company, translating to 2,700,678 shares valued at $273,029,000.
• UMB Financial reported a record revenue increase of 76.7% year-over-year during their latest earnings report, posting $2.96 earnings per share and beating analysts' expectations of $2.35.
• The company declared a quarterly dividend of $0.40 per share, with an annualized yield of 1.4%, payable on October 1st to shareholders on record as of September 10th.

Dimensional Fund Advisors LP boosted its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 78.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,700,678 shares of the bank's stock after acquiring an additional 1,185,671 shares during the quarter. Dimensional Fund Advisors LP owned 3.56% of UMB Financial worth $273,029,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of UMB Financial by 21.1% in the first quarter. Bank of New York Mellon Corp now owns 546,483 shares of the bank's stock valued at $55,249,000 after purchasing an additional 95,339 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings 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 valued at $239,000 after purchasing an additional 509 shares during the last quarter. Teacher Retirement System of Texas increased its holdings 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 valued at $1,590,000 after purchasing an additional 7,715 shares during the last quarter. New York State Teachers Retirement System increased its holdings 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 valued at $6,104,000 after purchasing an additional 1,664 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in shares of UMB Financial in the first quarter valued at $237,000. 87.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

UMBF has been the topic of several research reports. Raymond James Financial upped their price objective 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. Truist Financial upped their price objective 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. Wall Street Zen downgraded shares of UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Wells Fargo & Company upped their price target on shares of UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada upped their price target on shares of UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.11.

Insider Transactions at UMB Financial

In other news, CEO J Mariner Kemper sold 15,523 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $116.33, for a total value of $1,805,790.59. Following the completion of the transaction, the chief executive officer owned 1,536,781 shares of the company's stock, valued at approximately $178,773,733.73. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Brian Beaird sold 1,205 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were 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 of the company's stock, valued at approximately $1,178,776.99. This trade represents a 10.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,140 shares of company stock valued at $2,496,771. 5.45% of the stock is currently owned by insiders.

UMB Financial Price Performance

UMBF traded down $0.17 on Wednesday, hitting $115.76. 543,403 shares of the stock were exchanged, compared to its average volume of 661,596. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $129.94. The business has a 50-day moving average of $106.98 and a two-hundred day moving average of $103.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.32 and a beta of 0.77.

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

UMB Financial Dividend Announcement

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

About UMB Financial

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.