Earnest Partners LLC Purchases New Stake in UMB Financial Corporation $UMBF

Key Points

• Earnest Partners LLC acquired a new stake in UMB Financial Corporation, purchasing 1,427,803 shares valued at approximately $144.35 million, representing a 1.88% ownership of the company as of the latest SEC filing.
• UMB Financial announced a quarterly dividend of $0.40 per share, with an annual yield of 1.3%, set to be paid on October 1st to shareholders of record on September 10th.
• The bank reported earnings of $2.96 per share for the last quarter, exceeding expectations and marking a 76.7% year-over-year revenue increase.

Earnest Partners LLC purchased a new stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,427,803 shares of the bank's stock, valued at approximately $144,351,000. Earnest Partners LLC owned 1.88% of UMB Financial as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of UMBF. SummerHaven Investment Management LLC raised its stake in shares of UMB Financial by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 9,145 shares of the bank's stock valued at $925,000 after purchasing an additional 122 shares during the period. EP Wealth Advisors LLC raised its stake in shares of UMB Financial by 5.8% during the fourth quarter. EP Wealth Advisors LLC now owns 2,361 shares of the bank's stock valued at $266,000 after purchasing an additional 130 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of UMB Financial by 4.1% during the first quarter. Crossmark Global Holdings Inc. now owns 3,784 shares of the bank's stock valued at $383,000 after purchasing an additional 150 shares during the period. Heritage Family Offices LLP raised its stake in shares of UMB Financial by 7.6% during the first quarter. Heritage Family Offices LLP now owns 2,215 shares of the bank's stock valued at $224,000 after purchasing an additional 156 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of UMB Financial by 38.1% during the first quarter. Fifth Third Bancorp now owns 624 shares of the bank's stock valued at $63,000 after purchasing an additional 172 shares during the period. Hedge funds and other institutional investors own 87.78% of the company's stock.

Insider Buying and Selling at UMB Financial

In related news, insider Phillip James Mason sold 750 shares of UMB Financial stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $120.97, for a total transaction of $90,727.50. Following the sale, the insider directly owned 8,815 shares in the company, valued at $1,066,350.55. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Brian Beaird sold 1,205 shares of UMB Financial stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $116.17, for a total transaction of $139,984.85. Following the sale, the insider owned 10,147 shares in the company, valued at approximately $1,178,776.99. This represents a 10.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,390 shares of company stock valued at $2,765,819. 5.45% of the stock is currently owned by insiders.

UMB Financial Stock Performance

UMB Financial stock opened at $122.72 on Wednesday. The company has a market cap of $9.32 billion, a PE ratio of 14.11, a P/E/G ratio of 1.37 and a beta of 0.77. The company has a fifty day moving average price of $108.91 and a two-hundred day moving average price of $103.73. 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 12 month low of $82.00 and a 12 month high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.35 by $0.61. The company had revenue of $689.21 million for the quarter, compared to analysts' expectations of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The firm's quarterly revenue was up 76.7% compared to the same quarter last year. During the same period last year, the business posted $2.16 earnings per share. Research analysts expect that UMB Financial Corporation will post 9.66 earnings per share 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 1.3%. The ex-dividend date is Wednesday, September 10th. UMB Financial's dividend payout ratio (DPR) is presently 18.39%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Piper Sandler raised their price target on shares of UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Barclays raised their price target on shares of UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Raymond James Financial raised their price target on shares of UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 31st. Finally, Truist Financial raised their price target on shares of UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.11.

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.

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