Envestnet Asset Management Inc. Acquires 77,998 Shares of UMB Financial Corporation (NASDAQ:UMBF)

Envestnet Asset Management Inc. boosted its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 70.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 188,043 shares of the bank's stock after buying an additional 77,998 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.25% of UMB Financial worth $19,011,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Freestone Grove Partners LP bought a new position in shares of UMB Financial during the fourth quarter valued at about $48,235,000. Adage Capital Partners GP L.L.C. boosted its holdings in UMB Financial by 298.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 301,708 shares of the bank's stock valued at $34,051,000 after acquiring an additional 225,908 shares in the last quarter. Point72 Asset Management L.P. increased its position in UMB Financial by 22,173.3% during the 4th quarter. Point72 Asset Management L.P. now owns 176,627 shares of the bank's stock valued at $19,934,000 after purchasing an additional 175,834 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of UMB Financial by 10.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,912,883 shares of the bank's stock worth $192,302,000 after purchasing an additional 174,088 shares during the period. Finally, Norges Bank purchased a new stake in UMB Financial in the fourth quarter worth about $15,835,000. Hedge funds and other institutional investors own 87.78% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Bank of America started coverage on UMB Financial in a research report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 target price for the company. Wall Street Zen cut shares of UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Barclays upped their target price on shares of UMB Financial from $130.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada dropped their price objective on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Finally, Piper Sandler set a $135.00 target price on shares of UMB Financial and gave the company an "overweight" rating in a report on Friday, June 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $127.00.

UMB Financial Stock Performance

NASDAQ:UMBF traded up $0.31 during mid-day trading on Friday, reaching $109.73. The company's stock had a trading volume of 381,420 shares, compared to its average volume of 545,239. The firm's fifty day moving average price is $103.74 and its two-hundred day moving average price is $104.57. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The stock has a market cap of $8.33 billion, a P/E ratio of 13.80, a PEG ratio of 1.44 and a beta of 0.74. 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 issued its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.37. The company had revenue of $563.84 million for the quarter, compared to the consensus estimate of $555.79 million. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The firm's revenue for the quarter was up 41.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.47 earnings per share. On average, equities analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Tuesday, June 10th. UMB Financial's payout ratio is 20.13%.

Insider Buying and Selling

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $101.81, for a total transaction of $550,995.72. Following the sale, the chief executive officer owned 288,945 shares in the company, valued at approximately $29,417,490.45. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.45% of the stock is currently owned by insiders.

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.