Ieq Capital LLC bought a new stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,083 shares of the bank's stock, valued at approximately $719,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Rafferty Asset Management LLC boosted its stake in shares of UMB Financial by 19.0% during the 1st quarter. Rafferty Asset Management LLC now owns 87,758 shares of the bank's stock valued at $8,872,000 after buying an additional 13,989 shares during the last quarter. Ceredex Value Advisors LLC boosted its stake in UMB Financial by 1.3% during the 1st quarter. Ceredex Value Advisors LLC now owns 130,450 shares of the bank's stock valued at $13,188,000 after acquiring an additional 1,700 shares during the last quarter. FORA Capital LLC bought a new position in UMB Financial during the 1st quarter valued at $307,000. Corebridge Financial Inc. boosted its stake in UMB Financial by 49.7% during the 1st 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 last quarter. Finally, MetLife Investment Management LLC boosted its stake in UMB Financial by 48.5% during the 1st 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 last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on UMBF shares. Royal Bank Of Canada increased their price objective on shares of UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Barclays raised their price objective on UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. 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. Piper Sandler raised their price objective on UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Truist Financial raised their price objective on UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $132.11.
Get Our Latest Stock Analysis on UMB Financial
Insider Buying and Selling
In other news, insider Robert Brian Beaird sold 1,205 shares of the company's stock in a transaction dated 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 in the company, 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 Securities & Exchange Commission, which is available at this link. Also, insider Phillip James Mason sold 750 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $120.97, for a total value of $90,727.50. Following the sale, the insider directly owned 8,815 shares of the company's stock, valued at $1,066,350.55. This trade represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, 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.
UMB Financial Price Performance
NASDAQ:UMBF traded down $1.58 during mid-day trading on Monday, reaching $122.89. 22,312 shares of the stock were exchanged, compared to its average volume of 647,918. The business has a fifty day moving average price of $111.66 and a 200 day moving average price of $104.42. The firm has a market capitalization of $9.33 billion, a PE ratio of 14.13, a PEG ratio of 1.42 and a beta of 0.77. UMB Financial Corporation has a 1-year low of $82.00 and a 1-year high of $129.94. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10.
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 for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. The firm 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 revenue was up 76.7% on a year-over-year basis. During the same quarter last year, the business posted $2.16 EPS. Research analysts expect that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.
UMB Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. UMB Financial's dividend payout ratio is currently 18.39%.
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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