Raymond James Financial Inc. Has $16.92 Million Holdings in UMB Financial Corporation $UMBF

Key Points

• Raymond James Financial Inc. increased its holdings in UMB Financial Corporation by 66.4%, owning approximately 0.22% of the company, valued at about $16.9 million after acquiring an additional 66,770 shares.
• UMB Financial received positive analyst ratings, with target prices raised by several firms, including Barclays, which set a new target at $150.00, and Wells Fargo, increasing theirs to $125.00.
• The company announced a quarterly dividend of $0.40 per share, with an annualized yield of 1.3%, signaling strong financial performance as it reported an EPS of $2.96 for the last quarter.

Raymond James Financial Inc. grew its stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 66.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 167,395 shares of the bank's stock after purchasing an additional 66,770 shares during the quarter. Raymond James Financial Inc. owned about 0.22% of UMB Financial worth $16,924,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of UMB Financial by 54.0% during the 1st quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank's stock worth $741,342,000 after purchasing an additional 2,570,283 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of UMB Financial by 78.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank's stock worth $273,029,000 after purchasing an additional 1,185,671 shares during the last quarter. American Century Companies Inc. increased its position in shares of UMB Financial by 7.7% during the 1st quarter. American Century Companies Inc. now owns 2,054,007 shares of the bank's stock worth $207,660,000 after purchasing an additional 146,585 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of UMB Financial by 10.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,912,883 shares of the bank's stock worth $192,302,000 after acquiring an additional 174,088 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of UMB Financial by 4.3% during the 1st quarter. Principal Financial Group Inc. now owns 839,773 shares of the bank's stock worth $84,901,000 after acquiring an additional 34,583 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on UMBF. Truist Financial boosted their target price on UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Royal Bank Of Canada boosted their target price on UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Barclays boosted their target price on UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Wells Fargo & Company boosted their target price on UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Piper Sandler boosted their target price on UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, UMB Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $132.11.

UMB Financial Price Performance

Shares of UMBF traded down $0.37 during trading hours on Tuesday, hitting $121.53. 459,240 shares of the company were exchanged, compared to its average volume of 527,627. The company has a market cap of $9.23 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 1.39 and a beta of 0.77. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. The firm's fifty day moving average is $110.72 and its 200 day moving average is $104.08.

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

UMB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 10th. UMB Financial's dividend payout ratio is 18.39%.

Insider Activity at UMB Financial

In other news, EVP Amy Harris sold 500 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $122.02, for a total transaction of $61,010.00. Following the sale, the executive vice president directly owned 7,285 shares of the company's stock, valued at approximately $888,915.70. This represents a 6.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO J Mariner Kemper sold 15,523 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $116.33, for a total value of $1,805,790.59. Following the sale, the chief executive officer directly owned 1,536,781 shares in the company, valued at approximately $178,773,733.73. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,478 shares of company stock worth $2,275,833 in the last quarter. 5.45% of the stock is currently owned by corporate insiders.

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.