UMB Financial Corporation $UMBF Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in UMB Financial Corporation by 62.7%, selling 52,440 shares and now owning 31,196 shares valued at approximately $3.15 million.
• Multiple analysts have raised their price targets for UMB Financial, with Piper Sandler increasing theirs from $135.00 to $148.00 and Barclays from $140.00 to $150.00.
• UMB Financial announced a quarterly dividend of $0.40 per share, representing a 1.3% annualized dividend yield, to be paid on October 1st.

Jacobs Levy Equity Management Inc. lowered its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 62.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,196 shares of the bank's stock after selling 52,440 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in UMB Financial were worth $3,154,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Stifel Financial Corp purchased a new position in shares of UMB Financial in the fourth quarter worth $219,000. BNP Paribas Financial Markets lifted its holdings in shares of UMB Financial by 70.8% in the fourth quarter. BNP Paribas Financial Markets now owns 38,462 shares of the bank's stock worth $4,341,000 after buying an additional 15,949 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of UMB Financial in the fourth quarter worth $238,000. EP Wealth Advisors LLC lifted its holdings in shares of UMB Financial by 5.8% in the fourth quarter. EP Wealth Advisors LLC now owns 2,361 shares of the bank's stock worth $266,000 after buying an additional 130 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in UMB Financial by 16.4% during the fourth quarter. Deutsche Bank AG now owns 88,320 shares of the bank's stock valued at $9,968,000 after purchasing an additional 12,423 shares in the last quarter. Hedge funds and other institutional investors own 87.78% of the company's stock.

UMB Financial Stock Performance

NASDAQ UMBF traded up $0.62 on Monday, hitting $121.22. 23,421 shares of the company's stock traded hands, compared to its average volume of 643,880. 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 Corporation has a 1-year low of $82.00 and a 1-year high of $129.94. The firm's 50-day moving average price is $112.89 and its two-hundred day moving average price is $104.93. The firm has a market capitalization of $9.20 billion, a PE ratio of 13.92, a P/E/G ratio of 1.37 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The firm had revenue of $689.21 million during the quarter, compared to analysts' expectations of $638.25 million. During the same period in the previous year, the business posted $2.16 EPS. The business's revenue was up 76.7% compared to the same quarter last year. As a group, analysts expect that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, September 10th. UMB Financial's payout ratio is currently 18.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Royal Bank Of Canada upped their price target 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. Piper Sandler upped their price target on shares of UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Truist Financial upped their price target on shares of UMB Financial from $130.00 to $144.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Finally, Barclays boosted their price objective on shares of UMB Financial from $140.00 to $150.00 and gave the company an "overweight" rating in a research 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 issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $133.89.

Insider Transactions at UMB Financial

In related news, insider Robert Brian Beaird sold 1,205 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $116.17, for a total value of $139,984.85. Following the completion of the transaction, the insider directly owned 10,147 shares in the company, valued at $1,178,776.99. The trade was a 10.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stacy H. King sold 1,500 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $118.88, for a total transaction of $178,320.00. Following the completion of the transaction, the insider owned 9,472 shares of the company's stock, valued at approximately $1,126,031.36. This represents a 13.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 678 shares of company stock worth $75,948 and sold 20,845 shares worth $2,440,666. 5.45% of the stock is currently owned by company insiders.

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.