Fifth Third Bancorp Purchases 29,431 Shares of UMB Financial Corporation $UMBF

Key Points

• Fifth Third Bancorp dramatically increased its UMB Financial stake in Q1, buying 29,431 additional shares and lifting its holdings to 30,007 shares valued at about $3.38 million.
• Wall Street sentiment on UMB Financial remains constructive, with analysts assigning an overall Moderate Buy rating and an average price target of $152.17.
• UMB Financial reported strong quarterly results, including $3.41 EPS versus the $2.82 estimate and revenue of $739.16 million, while also paying a quarterly dividend of $0.43 per share.

Fifth Third Bancorp raised its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 5,109.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,007 shares of the bank's stock after acquiring an additional 29,431 shares during the period. Fifth Third Bancorp's holdings in UMB Financial were worth $3,384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. MBM Wealth Consultants LLC bought a new stake in UMB Financial during the 1st quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of UMB Financial during the fourth quarter worth approximately $27,000. Hilton Head Capital Partners LLC acquired a new position in shares of UMB Financial during the fourth quarter worth approximately $34,000. Torren Management LLC bought a new stake in shares of UMB Financial in the fourth quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of UMB Financial by 193.5% in the second quarter. EverSource Wealth Advisors LLC now owns 405 shares of the bank's stock valued at $43,000 after acquiring an additional 267 shares during the period. 87.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UMBF has been the topic of a number of research reports. Hovde Group boosted their target price on shares of UMB Financial from $145.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Wells Fargo & Company increased their price target on shares of UMB Financial from $130.00 to $139.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. Citigroup boosted their price objective on shares of UMB Financial from $138.00 to $144.00 and gave the stock a "neutral" rating in a report on Thursday, June 25th. Piper Sandler upped their price objective on shares of UMB Financial from $155.00 to $161.00 and gave the company an "overweight" rating in a research report on Friday, June 26th. Finally, TD Cowen upped their price objective on shares of UMB Financial from $141.00 to $147.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, UMB Financial has an average rating of "Moderate Buy" and an average price target of $152.17.

UMB Financial Price Performance

NASDAQ UMBF opened at $145.99 on Monday. UMB Financial Corporation has a 1-year low of $103.38 and a 1-year high of $148.31. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.81 and a beta of 0.77. The stock's 50 day moving average is $135.70 and its two-hundred day moving average is $126.13. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its earnings results on Tuesday, April 28th. The bank reported $3.41 EPS for the quarter, topping the consensus estimate of $2.82 by $0.59. The business had revenue of $739.16 million during the quarter, compared to the consensus estimate of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.UMB Financial's revenue was up 31.1% on a year-over-year basis. During the same quarter last year, the company earned $2.58 EPS. Equities analysts forecast that UMB Financial Corporation will post 12.85 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, June 10th. UMB Financial's payout ratio is currently 15.26%.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, President James D. Rine sold 8,246 shares of the business's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total value of $1,093,337.14. Following the transaction, the president directly owned 61,446 shares in the company, valued at $8,147,125.14. The trade was a 11.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin Charles Gallagher sold 381 shares of the company's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total transaction of $50,627.28. Following the sale, the director directly owned 12,223 shares in the company, valued at $1,624,192.24. This represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.33% of the stock is currently owned by insiders.

UMB Financial Company Profile

UMB Financial Corporation NASDAQ: UMBF is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.

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