Earnest Partners LLC Takes $144.35 Million Position 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 position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Elizabeth Park Capital Advisors Ltd. acquired a new stake in shares of UMB Financial during the first quarter worth approximately $3,079,000. Ieq Capital LLC acquired a new stake in UMB Financial in the first quarter valued at approximately $719,000. Rafferty Asset Management LLC lifted its stake in UMB Financial by 19.0% in the first quarter. Rafferty Asset Management LLC now owns 87,758 shares of the bank's stock valued at $8,872,000 after acquiring an additional 13,989 shares during the last quarter. Ceredex Value Advisors LLC lifted its stake in UMB Financial by 1.3% in the first quarter. Ceredex Value Advisors LLC now owns 130,450 shares of the bank's stock valued at $13,188,000 after acquiring an additional 1,700 shares during the last quarter. Finally, FORA Capital LLC acquired a new stake in UMB Financial in the first quarter valued at approximately $307,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at UMB Financial

In related news, CEO J Mariner Kemper sold 15,523 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $116.33, for a total transaction of $1,805,790.59. Following the transaction, the chief executive officer owned 1,536,781 shares of the company's stock, valued at approximately $178,773,733.73. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Brian Beaird sold 1,205 shares of the business's stock in a transaction 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 transaction, the insider directly owned 10,147 shares in the company, valued at $1,178,776.99. This trade represents a 10.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,478 shares of company stock valued at $2,275,833 in the last three months. 5.45% of the stock is owned by insiders.

Wall Street Analyst Weigh In

UMBF has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their target price 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. Piper Sandler lifted their target price on shares of UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Truist Financial lifted their target price on shares of UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wells Fargo & Company lifted their target price 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, Barclays lifted their target price on shares of 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 Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $132.11.

UMB Financial Stock Performance

Shares of UMB Financial stock traded down $0.35 on Monday, reaching $121.90. The stock had a trading volume of 440,588 shares, compared to its average volume of 559,690. The business's 50-day moving average price is $110.10 and its two-hundred day moving average price is $103.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. The stock has a market cap of $9.26 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.39 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The business had revenue of $689.21 million during the quarter, compared to analysts' expectations of $638.25 million. During the same period in the previous year, the company earned $2.16 earnings per share. UMB Financial's revenue for the quarter was up 76.7% on a year-over-year basis. On average, sell-side analysts forecast 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. Investors of record on Wednesday, September 10th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. UMB Financial's payout ratio is 18.39%.

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.