Moors & Cabot Inc. Acquires New Shares in UMB Financial Corporation (NASDAQ:UMBF)

Key Points

• Moors & Cabot Inc. has acquired a new stake of 3,296 shares in UMB Financial Corporation valued at approximately $333,000 as per their recent SEC filing.
• Insider transactions revealed that CEO J Mariner Kemper sold 5,412 shares for about $550,995, reducing his ownership by 1.84%.
• UMB Financial recently announced a quarterly dividend of $0.40 per share, which reflects an annual yield of 1.4% with a payout ratio of 18.39%.

Moors & Cabot Inc. acquired a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,296 shares of the bank's stock, valued at approximately $333,000.

Other institutional investors have also recently bought and sold shares of the company. Freestone Grove Partners LP acquired a new stake in shares of UMB Financial in the fourth quarter worth about $48,235,000. Adage Capital Partners GP L.L.C. lifted its position in shares of UMB Financial by 298.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 301,708 shares of the bank's stock worth $34,051,000 after buying an additional 225,908 shares during the last quarter. Stieven Capital Advisors L.P. acquired a new stake in shares of UMB Financial in the first quarter worth about $21,088,000. New York State Common Retirement Fund lifted its position in shares of UMB Financial by 1,302.5% in the first quarter. New York State Common Retirement Fund now owns 194,586 shares of the bank's stock worth $19,673,000 after buying an additional 180,712 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of UMB Financial by 22,173.3% in the fourth quarter. Point72 Asset Management L.P. now owns 176,627 shares of the bank's stock worth $19,934,000 after buying an additional 175,834 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.

Insider Transactions at UMB Financial

In related news, CEO J Mariner Kemper sold 5,412 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $101.81, for a total transaction of $550,995.72. Following the transaction, the chief executive officer directly owned 288,945 shares in the company, valued at $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.45% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on UMBF shares. Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Royal Bank Of Canada boosted their price target on UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Truist Financial lifted 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. Bank of America started coverage on UMB Financial in a research note on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price objective on the stock. Finally, Piper Sandler lifted 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $132.11.

UMB Financial Trading Up 2.0%

Shares of UMBF opened at $110.55 on Tuesday. UMB Financial Corporation has a 12-month low of $82.00 and a 12-month 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. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 1.27 and a beta of 0.77. The stock's 50-day moving average price is $104.71 and its 200 day moving average price is $104.03.

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 (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.61. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%. The firm had revenue of $689.21 million for the quarter, compared to analyst estimates of $638.25 million. During the same period in the previous year, the company posted $2.16 earnings per share. The company's quarterly revenue was up 76.7% compared to the same quarter last year. As a group, research analysts predict that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, September 10th. UMB Financial's payout ratio is currently 18.39%.

UMB Financial Company Profile

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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