Evergreen Capital Management LLC Purchases New Position in UMB Financial Corporation $UMBF

Key Points

• Evergreen Capital Management LLC invested approximately $456,000 in UMB Financial Corporation, acquiring 4,490 shares in the first quarter.
• Institutional investors collectively own 87.78% of UMB Financial's stock, with Vanguard Group significantly increasing its stake by 54.0%.
• UMB Financial reported earnings of $2.96 per share, surpassing analysts' expectations and showing a significant revenue increase of 76.7% year-over-year.

Evergreen Capital Management LLC purchased a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,490 shares of the bank's stock, valued at approximately $456,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of UMB Financial by 21.1% during the 1st quarter. Bank of New York Mellon Corp now owns 546,483 shares of the bank's stock valued at $55,249,000 after buying an additional 95,339 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of UMB Financial by 27.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 2,367 shares of the bank's stock valued at $239,000 after buying an additional 509 shares during the period. Teacher Retirement System of Texas increased its stake in shares of UMB Financial by 96.3% in the 1st quarter. Teacher Retirement System of Texas now owns 15,723 shares of the bank's stock worth $1,590,000 after purchasing an additional 7,715 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of UMB Financial by 2.8% in the 1st quarter. New York State Teachers Retirement System now owns 60,376 shares of the bank's stock worth $6,104,000 after purchasing an additional 1,664 shares in the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of UMB Financial in the 1st quarter worth $237,000. 87.78% of the stock is owned by institutional investors.

UMB Financial Price Performance

UMBF stock traded up $0.84 during trading on Friday, reaching $124.47. The company's stock had a trading volume of 692,812 shares, compared to its average volume of 474,331. UMB Financial Corporation has a 1 year low of $82.00 and a 1 year high of $129.94. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $9.45 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 1.41 and a beta of 0.77. The company's fifty day moving average is $111.66 and its 200-day moving average is $104.46.

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

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. UMB Financial's dividend payout ratio (DPR) is presently 18.39%.

Insider Activity

In other news, insider Robert Brian Beaird sold 1,205 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was 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 in the company, valued at $1,178,776.99. This trade represents a 10.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shannon Andresen Johnson sold 1,367 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $120.58, for a total value of $164,832.86. Following the transaction, the insider owned 34,124 shares of the company's stock, valued at approximately $4,114,671.92. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 678 shares of company stock valued at $75,948 and have sold 20,845 shares valued at $2,440,666. 5.45% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on UMBF shares. Truist Financial upped their price objective on UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Piper Sandler upped their price objective on UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Raymond James Financial upped their price objective on UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 31st. Wells Fargo & Company upped their price objective on UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada upped their price objective on UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, UMB Financial currently has an average rating of "Moderate Buy" and a consensus price target of $132.11.

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.