Praxis Investment Management Inc. Acquires New Stake in UMB Financial Corporation $UMBF

Key Points

• Praxis Investment Management Inc. has acquired a new position in UMB Financial Corporation, purchasing 2,320 shares valued at approximately $244,000 during the second quarter.
• Multiple institutional investors increased their stakes in UMB Financial, with Brooklyn Investment Group raising its holdings by 4,840% in the first quarter.
• UMB Financial recently reported strong quarterly earnings of $2.96 EPS, exceeding analyst estimates, and declared a quarterly dividend of $0.40 per share, representing a yield of 1.5%.

Praxis Investment Management Inc. acquired a new position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,320 shares of the bank's stock, valued at approximately $244,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its holdings in shares of UMB Financial by 4,840.0% during the first quarter. Brooklyn Investment Group now owns 247 shares of the bank's stock worth $25,000 after buying an additional 242 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in UMB Financial during the first quarter worth approximately $27,000. McIlrath & Eck LLC purchased a new stake in UMB Financial in the 1st quarter worth approximately $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in UMB Financial in the 1st quarter valued at $35,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of UMB Financial by 143.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank's stock worth $37,000 after purchasing an additional 213 shares during the period. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on UMBF. Truist Financial lifted their price objective on UMB Financial from $130.00 to $144.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Piper Sandler lifted their price target on UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Cowen assumed coverage on shares of UMB Financial in a research note on Wednesday, September 24th. They set a "buy" rating for the company. TD Cowen initiated coverage on shares of UMB Financial in a research report on Thursday, September 25th. They issued a "buy" rating and a $151.00 target price on the stock. Finally, Hovde Group initiated coverage on shares of UMB Financial in a report on Monday, October 6th. They issued an "outperform" rating for the company. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $138.00.

Insider Transactions at UMB Financial

In related news, Director Greg M. Graves bought 234 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was acquired at an average price of $120.44 per share, for a total transaction of $28,182.96. Following the completion of the purchase, the director owned 38,034 shares in the company, valued at $4,580,814.96. This represents a 0.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shannon Andresen Johnson sold 1,367 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $120.58, for a total value of $164,832.86. Following the transaction, the insider directly owned 34,124 shares in the company, 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 quarter, insiders acquired 678 shares of company stock worth $75,948 and sold 20,845 shares worth $2,440,666. 5.45% of the stock is currently owned by company insiders.

UMB Financial Stock Up 1.3%

Shares of NASDAQ:UMBF opened at $108.85 on Monday. The stock has a 50-day simple moving average of $118.90 and a 200-day simple moving average of $108.16. The stock has a market capitalization of $8.26 billion, a P/E ratio of 12.51, a PEG ratio of 1.11 and a beta of 0.73. UMB Financial Corporation has a 1 year low of $82.00 and a 1 year high of $129.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77.

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

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, September 10th. UMB Financial's dividend payout ratio is 18.39%.

UMB Financial Company 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.

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