Great Lakes Advisors LLC Raises Holdings in UMB Financial Corporation $UMBF

Key Points

• Great Lakes Advisors LLC increased its stake in UMB Financial Corporation by 7.1%, now owning approximately 0.07% of the company, valued at about $5.6 million.
• Several analysts have upgraded their price targets for UMB Financial, with Barclays setting a new target of $150.00 and Piper Sandler setting $148.00, indicating a generally positive outlook on the stock.
• UMB Financial recently declared a quarterly dividend of $0.40 per share, representing a 1.3% dividend yield, with an upcoming payment date of October 1st.

Great Lakes Advisors LLC grew its holdings in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 55,168 shares of the bank's stock after buying an additional 3,654 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.07% of UMB Financial worth $5,577,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UMBF. MAI Capital Management lifted its position in UMB Financial by 14.7% during the first quarter. MAI Capital Management now owns 771 shares of the bank's stock valued at $78,000 after purchasing an additional 99 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of UMB Financial by 1.4% in the 1st quarter. SummerHaven Investment Management LLC now owns 9,145 shares of the bank's stock valued at $925,000 after acquiring an additional 122 shares during the period. EP Wealth Advisors LLC boosted its holdings in UMB Financial by 5.8% in the fourth quarter. EP Wealth Advisors LLC now owns 2,361 shares of the bank's stock valued at $266,000 after purchasing an additional 130 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of UMB Financial by 4.1% during the 1st quarter. Crossmark Global Holdings Inc. now owns 3,784 shares of the bank's stock worth $383,000 after acquiring an additional 150 shares in the last quarter. Finally, Heritage Family Offices LLP boosted its holdings in shares of UMB Financial by 7.6% during the 1st quarter. Heritage Family Offices LLP now owns 2,215 shares of the bank's stock worth $224,000 after purchasing an additional 156 shares during the last quarter. Institutional investors own 87.78% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Piper Sandler boosted their target price on shares of UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Truist Financial raised their target price on shares of UMB Financial from $130.00 to $144.00 and gave the company a "buy" rating in a research note on Monday. Raymond James Financial lifted their price target on shares of UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. Barclays upped their price target on shares of UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada boosted their price target on shares of UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, UMB Financial has an average rating of "Moderate Buy" and a consensus target price of $133.89.

UMB Financial Trading Down 0.9%

Shares of UMB Financial stock traded down $1.08 on Friday, hitting $120.60. The stock had a trading volume of 323,188 shares, compared to its average volume of 497,488. The firm has a market capitalization of $9.16 billion, a P/E ratio of 13.86, a PEG ratio of 1.39 and a beta of 0.77. The stock has a 50 day moving average of $112.89 and a 200 day moving average of $104.95. 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 Corporation has a twelve month low of $82.00 and a twelve month high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its 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 company 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%.UMB Financial's quarterly revenue was up 76.7% compared to the same quarter last year. During the same period last year, the business earned $2.16 EPS. Sell-side analysts expect that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a $0.40 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. UMB Financial's payout ratio is presently 18.39%.

Insider Activity at UMB Financial

In related news, insider Robert Brian Beaird sold 1,205 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $116.17, for a total value of $139,984.85. Following the sale, the insider directly owned 10,147 shares of the company's stock, valued at $1,178,776.99. This represents a 10.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Phillip James Mason sold 750 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $120.97, for a total value of $90,727.50. Following the transaction, the insider directly owned 8,815 shares in the company, valued at approximately $1,066,350.55. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 678 shares of company stock valued at $75,948 and have sold 20,845 shares valued at $2,440,666. Insiders own 5.45% of the company's stock.

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.