Precision Wealth Strategies LLC Invests $293,000 in UMB Financial Corporation (NASDAQ:UMBF)

Precision Wealth Strategies LLC acquired a new stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,897 shares of the bank's stock, valued at approximately $293,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UMBF. Rothschild Investment LLC lifted its position in shares of UMB Financial by 442.0% in the first quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after purchasing an additional 221 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of UMB Financial by 703.2% during the 1st quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock worth $50,000 after acquiring an additional 436 shares during the last quarter. Covestor Ltd raised its position in shares of UMB Financial by 28.8% in the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock valued at $63,000 after purchasing an additional 124 shares during the period. Fifth Third Bancorp lifted its stake in shares of UMB Financial by 38.1% during the 1st quarter. Fifth Third Bancorp now owns 624 shares of the bank's stock worth $63,000 after buying an additional 172 shares during the last quarter. Finally, Marquette Asset Management LLC bought a new stake in shares of UMB Financial during the 1st quarter worth about $82,000. 87.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at UMB Financial

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 sale, the chief executive officer now owns 288,945 shares in the company, valued at approximately $29,417,490.45. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.45% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of UMB Financial from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Bank of America began coverage on UMB Financial in a research report on Wednesday, April 16th. They set a "buy" rating and a $105.00 price objective on the stock. Wall Street Zen cut shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Morgan Stanley lowered their price target on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Truist Financial started coverage on shares of UMB Financial in a research report on Tuesday, May 13th. They set a "buy" rating and a $120.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $122.88.

UMB Financial Trading Up 0.8%

Shares of NASDAQ:UMBF traded up $0.77 during midday trading on Thursday, reaching $99.49. The company's stock had a trading volume of 951,457 shares, compared to its average volume of 529,475. UMB Financial Corporation has a fifty-two week low of $79.50 and a fifty-two week 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. The firm has a 50 day moving average price of $100.03 and a two-hundred day moving average price of $107.11. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.15 and a beta of 0.75.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results 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. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. The business had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. During the same quarter in the prior year, the company earned $2.47 earnings per share. The company's quarterly revenue was up 41.4% on a year-over-year basis. As a group, analysts forecast that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial's dividend payout ratio (DPR) is presently 20.13%.

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.