NFJ Investment Group LLC Has $2.84 Million Position in UMB Financial Corporation $UMBF

Key Points

• NFJ Investment Group LLC has reduced its stake in UMB Financial Corporation by 38.1%, now holding 28,068 shares worth approximately $2.84 million.
• Several research analysts have raised their price targets for UMB Financial, with Piper Sandler increasing it from $135.00 to $148.00, and Barclays from $140.00 to $150.00, both maintaining an "overweight" rating.
• UMB Financial recently announced a quarterly dividend of $0.40, with an annualized yield of 1.3%, set to be paid on October 1st to shareholders on record as of September 10th.

NFJ Investment Group LLC decreased its holdings in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 38.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,068 shares of the bank's stock after selling 17,305 shares during the period. NFJ Investment Group LLC's holdings in UMB Financial were worth $2,838,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of UMBF. Bank of New York Mellon Corp lifted its position in UMB Financial by 21.1% in the first quarter. Bank of New York Mellon Corp now owns 546,483 shares of the bank's stock valued at $55,249,000 after acquiring an additional 95,339 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in shares of UMB Financial by 27.4% during the first quarter. OneDigital Investment Advisors LLC now owns 2,367 shares of the bank's stock worth $239,000 after acquiring an additional 509 shares during the period. Teacher Retirement System of Texas increased its stake in shares of UMB Financial by 96.3% during the first quarter. Teacher Retirement System of Texas now owns 15,723 shares of the bank's stock worth $1,590,000 after acquiring an additional 7,715 shares during the period. New York State Teachers Retirement System increased its stake in shares of UMB Financial by 2.8% during the first quarter. New York State Teachers Retirement System now owns 60,376 shares of the bank's stock worth $6,104,000 after acquiring an additional 1,664 shares during the period. Finally, M&T Bank Corp acquired a new position in shares of UMB Financial during the first quarter worth about $237,000. Institutional investors and hedge funds own 87.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Royal Bank Of Canada upped their target price on shares of 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 upped their target price on shares of UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a research report on Monday. Piper Sandler upped their target price on shares of UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Barclays upped their target price on shares of UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $133.89.

Insider Activity

In other news, CEO J Mariner Kemper sold 15,523 shares of UMB Financial stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $116.33, for a total transaction of $1,805,790.59. Following the completion of the sale, the chief executive officer directly owned 1,536,781 shares in the company, valued at $178,773,733.73. The trade was a 1.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shannon Andresen Johnson sold 1,367 shares of UMB Financial stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $120.58, for a total transaction of $164,832.86. Following the completion of the sale, the insider owned 34,124 shares of the company's stock, valued at $4,114,671.92. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 678 shares of company stock valued at $75,948 and sold 20,845 shares valued at $2,440,666. Company insiders own 5.45% of the company's stock.

UMB Financial Price Performance

Shares of NASDAQ UMBF traded down $0.15 during midday trading on Thursday, reaching $121.84. The company's stock had a trading volume of 111,074 shares, compared to its average volume of 647,090. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average price of $112.46 and a 200 day moving average price of $104.72. UMB Financial Corporation has a one year low of $82.00 and a one year high of $129.94. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.39 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, July 29th. The bank reported $2.96 EPS for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The business had revenue of $689.21 million for the quarter, compared to the consensus estimate of $638.25 million. During the same period in the previous year, the firm earned $2.16 EPS. The business's revenue for the quarter was up 76.7% on a year-over-year basis. On average, equities research analysts expect that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. UMB Financial's dividend payout ratio (DPR) is presently 18.39%.

About UMB Financial

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.