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 increased its stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,168 shares of the bank's stock after purchasing an additional 3,654 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.07% of UMB Financial worth $5,577,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of UMB Financial by 54.0% during the 1st quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank's stock worth $741,342,000 after purchasing an additional 2,570,283 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in UMB Financial by 78.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank's stock valued at $273,029,000 after buying an additional 1,185,671 shares during the last quarter. Wellington Management Group LLP raised its stake in UMB Financial by 19.1% in the first quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank's stock valued at $243,359,000 after buying an additional 385,830 shares during the last quarter. American Century Companies Inc. raised its stake in UMB Financial by 7.7% in the first quarter. American Century Companies Inc. now owns 2,054,007 shares of the bank's stock valued at $207,660,000 after buying an additional 146,585 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake 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 valued at $192,302,000 after buying an additional 174,088 shares during the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

UMB Financial Price Performance

Shares of NASDAQ UMBF traded down $0.15 during midday trading on Monday, hitting $120.46. The stock had a trading volume of 60,708 shares, compared to its average volume of 644,062. The company has a market capitalization of $9.15 billion, a PE ratio of 13.87, a P/E/G ratio of 1.37 and a beta of 0.77. The stock has a 50 day simple moving average of $112.89 and a 200-day simple moving average of $104.93. UMB Financial Corporation has a 1 year low of $82.00 and a 1 year high of $129.94. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10.

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 analysts' consensus estimates of $2.35 by $0.61. The company had revenue of $689.21 million for the quarter, compared to analyst estimates of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The firm's revenue for the quarter was up 76.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 earnings per share. On average, sell-side analysts expect that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

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

Insiders Place Their Bets

In other 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 transaction, the insider owned 10,147 shares of the company's stock, valued at $1,178,776.99. This represents a 10.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO J Mariner Kemper sold 15,523 shares of the business's stock in a transaction on 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 sale, the chief executive officer owned 1,536,781 shares in the company, valued at $178,773,733.73. This represents a 1.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 678 shares of company stock worth $75,948 and have sold 20,845 shares worth $2,440,666. Company insiders own 5.45% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Truist Financial raised their target price on UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Piper Sandler raised 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. Raymond James Financial raised their target price on UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Finally, Royal Bank Of Canada raised their target price on UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. One investment 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 company. According to MarketBeat.com, UMB Financial presently has an average rating of "Moderate Buy" and an average target price of $133.89.

About UMB Financial

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.