Federated Hermes Inc. Has $15.39 Million Stock Holdings 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. grew its holdings in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 28.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,200 shares of the bank's stock after purchasing an additional 33,673 shares during the period. Federated Hermes Inc. owned about 0.20% of UMB Financial worth $15,387,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in UMB Financial by 10.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,912,883 shares of the bank's stock worth $192,302,000 after acquiring an additional 174,088 shares in the last quarter. Principal Financial Group Inc. boosted its position in UMB Financial by 4.3% during the first quarter. Principal Financial Group Inc. now owns 839,773 shares of the bank's stock worth $84,901,000 after purchasing an additional 34,583 shares during the period. Northern Trust Corp raised its position in shares of UMB Financial by 16.2% in the fourth quarter. Northern Trust Corp now owns 637,072 shares of the bank's stock valued at $71,900,000 after purchasing an additional 88,705 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of UMB Financial by 21.1% in the first quarter. Bank of New York Mellon Corp now owns 546,483 shares of the bank's stock worth $55,249,000 after buying an additional 95,339 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in UMB Financial by 17.5% in the 4th quarter. Captrust Financial Advisors now owns 461,031 shares of the bank's stock valued at $52,032,000 after buying an additional 68,634 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO J Mariner Kemper sold 5,412 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the sale, the chief executive officer directly owned 288,945 shares in the company, valued at $29,417,490.45. The trade was a 1.84% 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, Director Greg M. Graves acquired 261 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was bought at an average price of $107.58 per share, with a total value of $28,078.38. Following the acquisition, the director directly owned 37,800 shares in the company, valued at $4,066,524. This represents a 0.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 5.45% of the company's stock.

Wall Street Analysts Forecast Growth

UMBF has been the topic of several research analyst reports. Truist Financial raised their price target on UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Wall Street Zen lowered shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Royal Bank Of Canada increased 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 boosted their price objective on UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Wells Fargo & Company boosted their price target on shares of UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $132.11.

UMB Financial Trading Down 1.1%

NASDAQ:UMBF traded down $1.26 during mid-day trading on Wednesday, hitting $110.00. The company had a trading volume of 462,904 shares, compared to its average volume of 672,000. The firm has a market cap of $8.35 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.26 and a beta 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 business's fifty day moving average is $105.01 and its two-hundred day moving average is $103.90. 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 (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.61. The business had revenue of $689.21 million for the quarter, compared to analyst estimates of $638.25 million. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. UMB Financial's quarterly revenue was up 76.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.16 EPS. As a group, research analysts expect that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

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

UMB Financial Company 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.