NFJ Investment Group LLC Has $40.06 Million Stock Position in UMB Financial Corporation $UMBF

Key Points

• NFJ Investment Group trimmed its UMB Financial stake by 2.7% in the fourth quarter but still held 348,236 shares valued at about $40.06 million, making the stock its 19th-largest position.
• Wall Street sentiment on UMBF remains positive, with multiple analysts raising price targets and the stock carrying a consensus Buy rating and an average target price of $145.55.
• UMB Financial reported strong quarterly results, beating EPS and revenue estimates, and also announced a quarterly dividend of $0.43 per share to be paid on July 1.

NFJ Investment Group LLC reduced its stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 348,236 shares of the bank's stock after selling 9,484 shares during the quarter. UMB Financial comprises 1.4% of NFJ Investment Group LLC's holdings, making the stock its 19th largest position. NFJ Investment Group LLC owned 0.46% of UMB Financial worth $40,061,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of UMBF. Royal Bank of Canada raised its holdings in UMB Financial by 28.2% in the 1st quarter. Royal Bank of Canada now owns 42,829 shares of the bank's stock valued at $4,329,000 after acquiring an additional 9,417 shares during the period. NewEdge Advisors LLC raised its holdings in UMB Financial by 47.0% in the 1st quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank's stock valued at $570,000 after acquiring an additional 1,803 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in UMB Financial by 65.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 207,881 shares of the bank's stock valued at $21,017,000 after acquiring an additional 82,083 shares during the period. Jane Street Group LLC raised its holdings in UMB Financial by 161.7% in the 1st quarter. Jane Street Group LLC now owns 49,877 shares of the bank's stock valued at $5,043,000 after acquiring an additional 30,820 shares during the period. Finally, Cetera Investment Advisers raised its holdings in UMB Financial by 6.8% in the 2nd quarter. Cetera Investment Advisers now owns 4,232 shares of the bank's stock valued at $445,000 after acquiring an additional 269 shares during the period. 87.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Truist Financial set a $140.00 price target on shares of UMB Financial in a report on Friday, May 1st. TD Cowen increased their price target on shares of UMB Financial from $141.00 to $147.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Zacks Research raised shares of UMB Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of UMB Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, April 27th. Finally, Barclays raised their target price on shares of UMB Financial from $160.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $145.55.

Insider Buying and Selling

In related news, President James D. Rine sold 8,246 shares of UMB Financial stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total value of $1,093,337.14. Following the transaction, the president directly owned 61,446 shares of the company's stock, valued at $8,147,125.14. This trade represents a 11.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kevin Charles Gallagher sold 381 shares of UMB Financial stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $132.88, for a total transaction of $50,627.28. Following the completion of the transaction, the director directly owned 12,223 shares in the company, valued at $1,624,192.24. This trade represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.33% of the company's stock.

UMB Financial Stock Up 2.2%

Shares of UMBF opened at $135.37 on Friday. UMB Financial Corporation has a 12 month low of $98.16 and a 12 month high of $136.11. The firm's 50 day moving average is $126.33 and its 200-day moving average is $121.61. The stock has a market capitalization of $10.29 billion, a PE ratio of 12.01, a P/E/G ratio of 0.92 and a beta of 0.78. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.59. The business had revenue of $739.16 million for the quarter, compared to analysts' expectations of $701.79 million. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. The firm's quarterly revenue was up 31.1% compared to the same quarter last year. During the same period last year, the firm posted $2.58 earnings per share. Equities research analysts forecast that UMB Financial Corporation will post 12.8 EPS for the current year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, June 10th. UMB Financial's dividend payout ratio (DPR) is 15.26%.

UMB Financial Profile

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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