NFJ Investment Group LLC Buys New Stake in UMB Financial Corporation $UMBF

Key Points

• NFJ Investment Group acquired 329,404 UMB Financial shares worth approximately $47 million, making the bank a 1.6% portfolio holding. Institutional investors collectively own 87.78% of the company.
• UMB Financial exceeded quarterly expectations, reporting $3.57 EPS versus the $3.12 consensus and revenue of $778 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $165.
• The company increased its quarterly dividend from $0.43 to $0.50 per share, equating to a $2.00 annualized payout and a 1.4% yield; meanwhile, insiders sold roughly $4.9 million of stock in the last quarter.

NFJ Investment Group LLC bought a new stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 329,404 shares of the bank's stock, valued at approximately $47,026,000. UMB Financial makes up about 1.6% of NFJ Investment Group LLC's investment portfolio, making the stock its 13th biggest holding. NFJ Investment Group LLC owned 0.43% of UMB Financial at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Virtus Advisers LLC bought a new stake in UMB Financial in the second quarter worth $1,449,000. Ceredex Value Advisors LLC bought a new stake in shares of UMB Financial during the second quarter worth $14,112,000. PCM Encore LLC bought a new stake in shares of UMB Financial during the second quarter worth $351,000. Vise Technologies Inc. bought a new stake in shares of UMB Financial during the second quarter worth $324,000. Finally, West Family Investments Inc. bought a new stake in shares of UMB Financial during the second quarter worth $271,000. 87.78% of the stock is currently owned by institutional investors.

Insider Activity

In other UMB Financial news, CEO J Mariner Kemper sold 15,062 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $148.55, for a total value of $2,237,460.10. Following the sale, the chief executive officer owned 1,491,138 shares of the company's stock, valued at $221,508,549.90. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nikki Farentino Newton sold 2,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $148.60, for a total value of $297,200.00. Following the completion of the sale, the insider directly owned 11,981 shares in the company, valued at $1,780,376.60. This represents a 14.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 34,171 shares of company stock worth $4,919,826 in the last quarter. Insiders own 5.33% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on UMBF shares. Morgan Stanley lifted their price objective on UMB Financial from $143.00 to $159.00 and gave the company an "overweight" rating in a report on Monday, June 29th. Truist Financial set a $170.00 price objective on UMB Financial and gave the company a "buy" rating in a report on Tuesday, August 4th. Piper Sandler restated an "overweight" rating and issued a $181.00 price objective (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. Barclays reiterated an "overweight" rating and issued a $175.00 target price (up from $170.00) on shares of UMB Financial in a research note on Monday, August 3rd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of UMB Financial in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $165.00.

UMB Financial Trading Down 0.6%

NASDAQ:UMBF traded down $0.84 during trading hours on Friday, hitting $145.02. The company had a trading volume of 114,305 shares, compared to its average volume of 624,207. 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 company has a 50-day moving average of $143.63 and a 200 day moving average of $130.28. The company has a market cap of $11.01 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.72 and a beta of 0.77. UMB Financial Corporation has a 1 year low of $103.38 and a 1 year high of $153.32.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.45. The company 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 period in the prior year, the business earned $2.96 EPS. Sell-side analysts expect that UMB Financial Corporation will post 13.48 earnings per share for the current year.

UMB Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from UMB Financial's previous quarterly dividend of $0.43. UMB Financial's dividend payout ratio is currently 14.32%.

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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