Federated Hermes Inc. Grows Position in UMB Financial Corporation (NASDAQ:UMBF)

Key Points

• Federated Hermes Inc. increased its ownership in UMB Financial Corporation by 28.4%, acquiring 33,673 additional shares to hold a total of 152,200 shares worth approximately $15.39 million.
• UMB Financial reported an impressive quarterly earnings of $2.96 EPS, exceeding analyst estimates of $2.35, along with a significant 76.7% increase in year-over-year revenue.
• The company also announced a quarterly dividend of $0.40 per share, translating to an annualized payout of $1.60 and a 1.5% dividend yield.

Federated Hermes Inc. boosted its stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 28.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 152,200 shares of the bank's stock after buying an additional 33,673 shares during the quarter. Federated Hermes Inc. owned approximately 0.20% of UMB Financial worth $15,387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of UMBF. HighTower Advisors LLC purchased a new stake in shares of UMB Financial during the 4th quarter valued at $201,000. LPL Financial LLC boosted its stake in UMB Financial by 171.6% in the 4th quarter. LPL Financial LLC now owns 20,329 shares of the bank's stock worth $2,294,000 after purchasing an additional 12,845 shares during the period. JPMorgan Chase & Co. boosted its stake in UMB Financial by 31.0% in the 4th quarter. JPMorgan Chase & Co. now owns 415,607 shares of the bank's stock worth $46,905,000 after purchasing an additional 98,427 shares during the period. Norges Bank bought a new position in UMB Financial in the 4th quarter worth about $15,835,000. Finally, Pictet Asset Management Holding SA boosted its stake in UMB Financial by 25.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,791 shares of the bank's stock worth $766,000 after purchasing an additional 1,369 shares during the period. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Price Performance

Shares of UMB Financial stock opened at $108.39 on Friday. 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 business's 50 day simple moving average is $104.71 and its two-hundred day simple moving average is $104.26. The stock has a market capitalization of $8.23 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 1.46 and a beta of 0.74. UMB Financial Corporation has a one year low of $82.00 and a one year high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 EPS for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. The business 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 business's quarterly revenue was up 76.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.16 EPS. Analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. UMB Financial's payout ratio is 18.39%.

Insider Activity

In other news, CEO J Mariner Kemper sold 5,412 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total transaction of $550,995.72. Following the transaction, the chief executive officer directly owned 288,945 shares of the company's stock, valued at approximately $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.45% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Royal Bank Of Canada raised their target price on UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a research note on Thursday. Bank of America assumed coverage on UMB Financial in a research note on Wednesday, April 16th. They issued a "buy" rating and a $105.00 target price for the company. Wall Street Zen downgraded UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Piper Sandler lifted their price target on UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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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