Nuveen LLC Buys Shares of 507,655 UMB Financial Corporation $UMBF

Key Points

• Nuveen LLC acquired a new stake in UMB Financial Corporation, purchasing 507,655 shares worth approximately $51.32 million, which represents 0.67% of the company's total shares.
• Various institutional investors have significantly increased their positions in UMB Financial, with Rothschild Investment LLC's stake rising by 442% and Versant Capital Management's stake increasing by 703.2% in the first quarter.
• UMB Financial recently reported earnings of $2.96 per share, exceeding analysts' projections and showing a 76.7% year-over-year revenue increase.

Nuveen LLC purchased a new position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 507,655 shares of the bank's stock, valued at approximately $51,324,000. Nuveen LLC owned 0.67% of UMB Financial as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Invesco Ltd. grew its stake in UMB Financial by 28.9% in the 1st quarter. Invesco Ltd. now owns 399,590 shares of the bank's stock valued at $40,399,000 after acquiring an additional 89,610 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its position in shares of UMB Financial by 21.1% in the first quarter. Global Alpha Capital Management Ltd. now owns 511,137 shares of the bank's stock worth $51,676,000 after acquiring an additional 89,114 shares during the last quarter. Angel Oak Capital Advisors LLC acquired a new stake in shares of UMB Financial in the first quarter worth approximately $981,000. Wolverine Asset Management LLC acquired a new position in UMB Financial during the first quarter valued at approximately $2,402,000. Finally, Citigroup Inc. lifted its position in UMB Financial by 12.5% during the first quarter. Citigroup Inc. now owns 105,889 shares of the bank's stock valued at $10,705,000 after buying an additional 11,792 shares in the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

UMB Financial Trading Up 0.1%

Shares of UMB Financial stock traded up $0.0650 during trading on Tuesday, hitting $115.7350. The stock had a trading volume of 95,268 shares, compared to its average volume of 659,104. The stock has a 50 day simple moving average of $106.67 and a 200 day simple moving average of $103.53. The company has a market capitalization of $8.79 billion, a PE ratio of 13.30, a P/E/G ratio of 1.31 and a beta of 0.77. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. UMB Financial Corporation has a 1 year low of $82.00 and a 1 year high of $129.94.

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

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 of this dividend is Wednesday, September 10th. UMB Financial's payout ratio is 18.39%.

Insider Buying and Selling at UMB Financial

In other UMB Financial 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 transaction, the chief executive officer owned 1,536,781 shares of the company's stock, valued at $178,773,733.73. The trade was a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Brian Beaird sold 1,205 shares of UMB Financial stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $116.17, for a total value of $139,984.85. Following the transaction, the insider directly owned 10,147 shares in the company, valued at approximately $1,178,776.99. This trade represents a 10.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,140 shares of company stock valued at $2,496,771 in the last 90 days. 5.45% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Barclays raised their price target 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. Wells Fargo & Company boosted their target price on shares of UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Truist Financial boosted their target price on shares of UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Royal Bank Of Canada boosted their price target on shares of UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, UMB Financial has an average rating of "Moderate Buy" and a consensus price target of $132.11.

UMB Financial 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.