First Trust Advisors LP Acquires 178,297 Shares of UMB Financial Corporation $UMBF

Key Points

• First Trust Advisors LP boosted its stake in UMB Financial by 44.3% in Q3, buying 178,297 shares to hold 580,926 shares worth about $68.75 million (roughly 0.76% of the company).
• UMB Financial beat EPS estimates ($3.08 vs. $2.71), reported quarterly revenue up 66% year-over-year, and announced a $0.43 quarterly dividend (1.5% yield; ex-dividend March 10, payable April 1).
• Institutional investors own about 87.78% of UMBF while insiders hold 5.45%, and analysts have a consensus "Buy" rating with an average price target of $141.18.

First Trust Advisors LP grew its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 44.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 580,926 shares of the bank's stock after acquiring an additional 178,297 shares during the quarter. First Trust Advisors LP owned about 0.76% of UMB Financial worth $68,753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of UMBF. Royal Bank of Canada increased its position in shares of UMB Financial by 28.2% in the first quarter. Royal Bank of Canada now owns 42,829 shares of the bank's stock worth $4,329,000 after purchasing an additional 9,417 shares during the last quarter. NewEdge Advisors LLC lifted its position in UMB Financial by 47.0% during the first quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank's stock valued at $570,000 after purchasing an additional 1,803 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in UMB Financial by 65.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 207,881 shares of the bank's stock worth $21,017,000 after buying an additional 82,083 shares in the last quarter. Jane Street Group LLC grew its stake in UMB Financial by 161.7% in the 1st quarter. Jane Street Group LLC now owns 49,877 shares of the bank's stock worth $5,043,000 after buying an additional 30,820 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of UMB Financial by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 575,782 shares of the bank's stock worth $60,549,000 after buying an additional 29,299 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company's stock.

UMB Financial Price Performance

Shares of UMB Financial stock opened at $112.70 on Wednesday. UMB Financial Corporation has a 52-week low of $82.00 and a 52-week high of $136.11. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 0.82 and a beta of 0.78. The company has a fifty day moving average of $123.22 and a 200-day moving average of $118.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, January 27th. The bank reported $3.08 EPS for the quarter, beating the consensus estimate of $2.71 by $0.37. The company had revenue of $469.80 million for the quarter, compared to analyst estimates of $677.30 million. UMB Financial had a net margin of 16.90% and a return on equity of 12.14%. The firm's quarterly revenue was up 66.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.49 EPS. Equities research analysts expect that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 10th will be issued a $0.43 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $1.72 annualized dividend and a dividend yield of 1.5%. UMB Financial's payout ratio is currently 18.84%.

Insider Transactions at UMB Financial

In related news, Director Kevin Charles Gallagher sold 388 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $129.30, for a total transaction of $50,168.40. Following the transaction, the director directly owned 12,488 shares in the company, valued at $1,614,698.40. This trade represents a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg M. Graves purchased 220 shares of the firm's stock in a transaction on Monday, February 2nd. The stock was bought at an average cost of $127.83 per share, for a total transaction of $28,122.60. Following the completion of the purchase, the director directly owned 39,541 shares in the company, valued at approximately $5,054,526.03. This trade represents a 0.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 19,102 shares of company stock worth $2,458,247. Company insiders own 5.45% of the company's stock.

Wall Street Analyst Weigh In

UMBF has been the topic of several research reports. Truist Financial set a $150.00 price objective on shares of UMB Financial in a research report on Friday, January 30th. Zacks Research raised UMB Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 4th. Citigroup raised their price target on UMB Financial from $120.00 to $138.00 and gave the company a "neutral" rating in a research report on Thursday, January 29th. Keefe, Bruyette & Woods lifted their price target on UMB Financial from $133.00 to $141.00 and gave the stock an "outperform" rating in a research note on Thursday, January 29th. Finally, Royal Bank Of Canada set a $134.00 price objective on UMB Financial and gave the stock an "outperform" rating in a report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $141.18.

About UMB Financial

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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