FORA Capital LLC Invests $307,000 in UMB Financial Corporation $UMBF

Key Points

• FORA Capital LLC has invested $307,000 in UMB Financial Corporation, acquiring 3,036 shares during the first quarter of the year.
• UMB Financial reported strong quarterly earnings of $2.96 per share, exceeding expectations, with a year-over-year revenue increase of 76.7%.
• The company has announced a quarterly dividend of $0.40 per share, indicating a 1.3% yield and a payout ratio of 18.39% for shareholders of record.

FORA Capital LLC acquired a new position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,036 shares of the bank's stock, valued at approximately $307,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Corebridge Financial Inc. grew its stake in UMB Financial by 49.7% in the first quarter. Corebridge Financial Inc. now owns 108,116 shares of the bank's stock valued at $10,931,000 after acquiring an additional 35,875 shares during the period. MetLife Investment Management LLC grew its stake in UMB Financial by 48.5% in the first quarter. MetLife Investment Management LLC now owns 76,194 shares of the bank's stock valued at $7,703,000 after acquiring an additional 24,895 shares during the period. Systematic Financial Management LP grew its stake in UMB Financial by 3.1% in the first quarter. Systematic Financial Management LP now owns 335,410 shares of the bank's stock valued at $33,910,000 after acquiring an additional 10,168 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of UMB Financial by 292.4% in the first quarter. Smartleaf Asset Management LLC now owns 565 shares of the bank's stock valued at $57,000 after purchasing an additional 421 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of UMB Financial by 143.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank's stock valued at $37,000 after purchasing an additional 213 shares in the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on UMBF shares. Truist Financial boosted their price target on UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a report on Friday, July 11th. Raymond James Financial boosted their price target on UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. Piper Sandler upped their target price on UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Barclays upped their target price on UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company upped their price objective on UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $132.11.

UMB Financial Stock Performance

Shares of UMB Financial stock traded down $0.35 on Friday, hitting $121.90. The stock had a trading volume of 440,588 shares, compared to its average volume of 559,690. UMB Financial Corporation has a twelve month low of $82.00 and a twelve month high of $129.94. The business's 50 day moving average is $110.10 and its two-hundred day moving average is $103.94. 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 stock has a market cap of $9.26 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.39 and a beta of 0.77.

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. The business had revenue of $689.21 million for the quarter, compared to the consensus estimate of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The firm's quarterly revenue was up 76.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.16 earnings per share. Analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 10th. UMB Financial's dividend payout ratio (DPR) is currently 18.39%.

Insider Transactions at UMB Financial

In other UMB Financial news, insider Stacy H. King sold 1,500 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $118.88, for a total value of $178,320.00. Following the completion of the transaction, the insider directly owned 9,472 shares in the company, valued at approximately $1,126,031.36. This trade represents a 13.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J Mariner Kemper sold 15,523 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $116.33, for a total value of $1,805,790.59. Following the completion of the transaction, the chief executive officer owned 1,536,781 shares of the company's stock, valued at $178,773,733.73. This represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,890 shares of company stock valued at $2,826,829. 5.45% of the stock is currently owned by corporate insiders.

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.