UMB Financial Corporation (NASDAQ:UMBF) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 430.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,172 shares of the bank's stock after buying an additional 35,028 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.06% of UMB Financial worth $4,365,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Truist Financial Corp grew its holdings in shares of UMB Financial by 0.4% in the fourth quarter. Truist Financial Corp now owns 19,565 shares of the bank's stock worth $2,208,000 after acquiring an additional 83 shares during the period. Handelsbanken Fonder AB lifted its position in shares of UMB Financial by 21.0% in the fourth quarter. Handelsbanken Fonder AB now owns 10,930 shares of the bank's stock valued at $1,234,000 after acquiring an additional 1,900 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of UMB Financial in the fourth quarter valued at about $748,000. Amalgamated Bank lifted its position in shares of UMB Financial by 1.9% in the fourth quarter. Amalgamated Bank now owns 20,361 shares of the bank's stock valued at $2,298,000 after acquiring an additional 376 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of UMB Financial in the fourth quarter worth about $1,752,000. Hedge funds and other institutional investors own 87.78% of the company's stock.

Insider Buying and Selling

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the transaction, the chief executive officer now directly owns 288,945 shares of the company's stock, valued at approximately $29,417,490.45. This trade represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.45% of the company's stock.

UMB Financial Price Performance

UMBF stock traded down $0.12 during trading on Friday, hitting $106.02. The stock had a trading volume of 1,784,958 shares, compared to its average volume of 544,107. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. UMB Financial Corporation has a twelve month low of $81.01 and a twelve month high of $129.94. The stock has a market capitalization of $8.05 billion, a P/E ratio of 13.34, a PEG ratio of 1.24 and a beta of 0.75. The company's 50-day moving average price is $101.59 and its two-hundred day moving average price is $106.17.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.37. The company had revenue of $563.84 million for the quarter, compared to analysts' expectations of $555.79 million. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. UMB Financial's revenue was up 41.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.47 EPS. As a group, research analysts predict that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.51%. UMB Financial's payout ratio is currently 20.13%.

Analysts Set New Price Targets

UMBF has been the topic of a number of recent research reports. Wells Fargo & Company upped their price objective on UMB Financial from $105.00 to $110.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Piper Sandler set a $135.00 target price on UMB Financial and gave the stock an "overweight" rating in a report on Friday, June 13th. Barclays lowered their target price on UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Truist Financial started coverage on UMB Financial in a report on Tuesday, May 13th. They set a "buy" rating and a $120.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $122.88.

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.