High Note Wealth LLC acquired a new stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,312 shares of the bank's stock, valued at approximately $234,000.
A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of UMB Financial by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,762,481 shares of the bank's stock valued at $537,494,000 after buying an additional 48,507 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of UMB Financial by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 2,021,285 shares of the bank's stock valued at $228,122,000 after buying an additional 102,104 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of UMB Financial by 10.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,912,883 shares of the bank's stock worth $192,302,000 after purchasing an additional 174,088 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of UMB Financial by 4.3% during the 1st quarter. Principal Financial Group Inc. now owns 839,773 shares of the bank's stock worth $84,901,000 after purchasing an additional 34,583 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of UMB Financial by 16.2% during the 4th quarter. Northern Trust Corp now owns 637,072 shares of the bank's stock worth $71,900,000 after purchasing an additional 88,705 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the stock. Piper Sandler set a $135.00 target price on shares of UMB Financial and gave the stock an "overweight" rating in a research report on Friday, June 13th. Barclays increased their target price on shares of UMB Financial from $130.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Bank of America assumed coverage on shares of UMB Financial in a research report on Wednesday, April 16th. They set a "buy" rating and a $105.00 target price for the company. Wall Street Zen cut shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Finally, Truist Financial set a $128.00 target price on shares of UMB Financial and gave the stock a "buy" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $127.00.
View Our Latest Stock Analysis on UMB Financial
UMB Financial Price Performance
NASDAQ:UMBF traded up $1.65 during mid-day trading on Wednesday, reaching $108.49. 480,583 shares of the company were exchanged, compared to its average volume of 546,162. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $129.94. The company has a fifty day moving average of $103.71 and a 200 day moving average of $104.54. 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 $8.24 billion, a PE ratio of 13.65, a PEG ratio of 1.42 and a beta of 0.74.
UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.37. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The firm had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. During the same quarter in the prior year, the firm earned $2.47 EPS. The company's revenue was up 41.4% on a year-over-year basis. On average, research analysts anticipate that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.
UMB Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Tuesday, June 10th. UMB Financial's dividend payout ratio (DPR) is presently 20.13%.
Insider Activity
In other news, CEO J Mariner Kemper sold 5,412 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $101.81, for a total value of $550,995.72. Following the transaction, the chief executive officer owned 288,945 shares of the company's stock, valued at approximately $29,417,490.45. This trade represents a 1.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.45% of the company's stock.
About UMB Financial
(
Free Report)
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.
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