Raymond James Financial Inc. Increases 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. lifted its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 66.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 167,395 shares of the bank's stock after buying an additional 66,770 shares during the period. Raymond James Financial Inc. owned about 0.22% of UMB Financial worth $16,924,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of UMBF. Marshall Wace LLP purchased a new stake in UMB Financial during the 4th quarter valued at about $237,000. OneDigital Investment Advisors LLC purchased a new stake in UMB Financial during the 4th quarter valued at about $210,000. Stifel Financial Corp purchased a new stake in UMB Financial during the 4th quarter valued at about $219,000. Hsbc Holdings PLC boosted its holdings in UMB Financial by 50.7% during the 4th quarter. Hsbc Holdings PLC now owns 7,391 shares of the bank's stock valued at $837,000 after acquiring an additional 2,486 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in UMB Financial by 84.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 155,133 shares of the bank's stock valued at $17,509,000 after acquiring an additional 70,888 shares during the period. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UMBF has been the subject of several analyst reports. Wells Fargo & Company increased their target price on UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Truist Financial increased their target price on UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a report on Friday, July 11th. Barclays increased their target price on UMB Financial from $140.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Royal Bank Of Canada increased their target price on UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Finally, Raymond James Financial increased their price objective on UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $132.11.

Insider Buying and Selling

In other UMB Financial news, EVP Amy Harris sold 500 shares of UMB Financial 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 completion of the transaction, the executive vice president owned 7,285 shares in the company, valued at approximately $888,915.70. The trade was a 6.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stacy H. King sold 1,500 shares of UMB Financial stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $118.88, for a total value of $178,320.00. Following the transaction, the insider owned 9,472 shares of the company's stock, valued at $1,126,031.36. The trade was a 13.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,890 shares of company stock worth $2,826,829 over the last quarter. Company insiders own 5.45% of the company's stock.

UMB Financial Trading Up 0.2%

UMBF opened at $122.99 on Thursday. The stock has a market cap of $9.34 billion, a PE ratio of 14.14, a PEG ratio of 1.40 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. The business has a 50 day moving average of $109.34 and a 200-day moving average of $103.81. UMB Financial Corporation has a 52 week low of $82.00 and a 52 week 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 EPS for the quarter, beating analysts' consensus estimates of $2.35 by $0.61. The company had revenue of $689.21 million during the quarter, compared to analysts' expectations of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The firm's revenue for the quarter was up 76.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.16 EPS. Equities research analysts predict that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, September 10th. UMB Financial's dividend payout ratio (DPR) is presently 18.39%.

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.

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