3,864 Shares in UMB Financial Corporation (NASDAQ:UMBF) Purchased by N.E.W. Advisory Services LLC

Key Points

• N.E.W. Advisory Services LLC acquired a new stake in UMB Financial Corporation, purchasing 3,864 shares valued at approximately $391,000 in the first quarter of 2023.
• UMB Financial's recent earnings report revealed an EPS of $2.96, exceeding analyst expectations, with a year-over-year revenue increase of 76.7% to $689.21 million.
• Analysts now project a consensus rating of "Hold" for UMB Financial, with a price target averaging $127.00, despite a mix of ratings from various equity research firms.

N.E.W. Advisory Services LLC acquired a new stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,864 shares of the bank's stock, valued at approximately $391,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of UMBF. Vanguard Group Inc. grew its position in UMB Financial by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,762,481 shares of the bank's stock worth $537,494,000 after purchasing an additional 48,507 shares during the period. Wellington Management Group LLP boosted its position in UMB Financial by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 2,021,285 shares of the bank's stock worth $228,122,000 after purchasing an additional 102,104 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in UMB Financial by 10.0% in 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. boosted its position in UMB Financial by 4.3% in 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 boosted its position in UMB Financial by 16.2% in 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.

Analysts Set New Price Targets

UMBF has been the topic of several recent research reports. Truist Financial upped their price objective on UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Royal Bank Of Canada upped their price objective on UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a research report on Thursday. Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Piper Sandler boosted their price objective on UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Raymond James Financial boosted their price objective on UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, UMB Financial has an average rating of "Moderate Buy" and a consensus price target of $132.11.

UMB Financial Price Performance

Shares of UMBF traded down $1.60 during trading hours on Friday, hitting $108.39. 855,112 shares of the stock were exchanged, compared to its average volume of 547,012. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. UMB Financial Corporation has a 12-month low of $82.00 and a 12-month high of $129.94. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. The stock's 50-day moving average price is $104.71 and its two-hundred day moving average price is $104.15.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued 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. The company had revenue of $689.21 million during 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%. The firm's quarterly revenue was up 76.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.16 EPS. Research analysts expect that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.5%. The ex-dividend date is Wednesday, September 10th. UMB Financial's dividend payout ratio is presently 18.39%.

Insider Transactions at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the sale, the chief executive officer directly owned 288,945 shares in the company, valued at $29,417,490.45. This represents a 1.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.45% of the stock is currently owned by insiders.

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.