Legal & General Group Plc Purchases Shares of 95,737 UMB Financial Corporation $UMBF

Key Points

• Legal & General Group Plc purchased 95,737 shares of UMB Financial worth approximately $13.7 million, acquiring a roughly 0.13% stake. Institutional investors collectively own 87.78% of the company.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $166.54. UMB Financial also exceeded quarterly expectations, reporting $3.57 in earnings per share versus the $3.12 consensus estimate.
• UMB Financial raised its quarterly dividend to $0.50 per share, equivalent to a $2.00 annualized payout and a 1.4% yield. Meanwhile, insiders sold 34,171 shares worth approximately $4.9 million over the past three months.

Legal & General Group Plc purchased a new position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 95,737 shares of the bank's stock, valued at approximately $13,667,000. Legal & General Group Plc owned approximately 0.13% of UMB Financial as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. MBM Wealth Consultants LLC bought a new position in shares of UMB Financial during the 1st quarter valued at approximately $26,000. Kemnay Advisory Services Inc. bought a new position in shares of UMB Financial in the fourth quarter worth approximately $27,000. Axiom Investment Management LLC purchased a new stake in shares of UMB Financial in the first quarter worth $28,000. Hilton Head Capital Partners LLC purchased a new stake in shares of UMB Financial in the fourth quarter worth $34,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of UMB Financial during the 2nd quarter valued at $38,000. Institutional investors own 87.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. TD Cowen reaffirmed a "buy" rating and issued a $166.00 price objective (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Stephens began coverage on UMB Financial in a research note on Tuesday, July 14th. They set an "overweight" rating and a $167.00 target price on the stock. Truist Financial set a $170.00 price target on UMB Financial and gave the stock a "buy" rating in a report on Tuesday, August 4th. Raymond James Financial assumed coverage on UMB Financial in a research note on Thursday. They issued an "outperform" rating and a $165.00 price target for the company. Finally, Citigroup reaffirmed a "neutral" rating and set a $162.00 price objective (up from $144.00) on shares of UMB Financial in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $166.54.

Insider Buying and Selling

In other UMB Financial news, Director Susan G. Murphy sold 1,377 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $145.55, for a total transaction of $200,422.35. Following the completion of the transaction, the director owned 10,635 shares in the company, valued at $1,547,924.25. This trade represents a 11.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nikki Farentino Newton sold 2,000 shares of UMB Financial stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total transaction of $297,200.00. Following the completion of the transaction, the insider directly owned 11,981 shares of the company's stock, valued at $1,780,376.60. The trade was a 14.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,171 shares of company stock valued at $4,919,826 in the last three months. Corporate insiders own 5.33% of the company's stock.

UMB Financial Stock Performance

Shares of UMBF stock opened at $144.59 on Monday. UMB Financial Corporation has a 12-month low of $103.38 and a 12-month high of $153.32. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The stock's 50-day moving average price is $144.86 and its 200-day moving average price is $130.83. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 0.71 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.45. The business had revenue of $778.00 million during the quarter, compared to analysts' expectations of $727.63 million. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.During the same quarter last year, the business posted $2.96 EPS. Equities research analysts predict that UMB Financial Corporation will post 13.48 EPS for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from UMB Financial's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, September 10th. UMB Financial's payout ratio is 16.65%.

About UMB Financial

UMB Financial Corporation NASDAQ: UMBF is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.

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