RMG Wealth Management LLC Invests $306,000 in UMB Financial Corporation $UMBF

Key Points

• RMG Wealth Management LLC invested $306,000 in UMB Financial Corporation, acquiring 2,800 shares during the second quarter.
• UMB Financial has seen a significant increase in analyst ratings, with several firms raising their target prices, indicating a consensus rating of Moderate Buy and an average target price of $136.90.
• The company reported strong quarterly earnings, with a net margin of 15.42% and revenue growth of 76.7% compared to the same quarter last year.

RMG Wealth Management LLC purchased a new position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,800 shares of the bank's stock, valued at approximately $306,000.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial upped their target price on UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Hovde Group began coverage on UMB Financial in a report on Monday. They issued an "outperform" rating for the company. Wells Fargo & Company increased their target price on shares of UMB Financial from $125.00 to $130.00 and gave the stock an "equal weight" rating in a report on Monday, September 29th. Morgan Stanley raised their target price on shares of UMB Financial from $120.00 to $154.00 and gave the company an "overweight" rating in a research report on Monday, September 29th. Finally, TD Cowen started coverage on shares of UMB Financial in a report on Thursday, September 25th. They issued a "buy" rating and a $151.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $136.90.

Insider Activity

In related news, insider Robert Brian Beaird sold 1,205 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $116.17, for a total transaction of $139,984.85. Following the transaction, the insider directly owned 10,147 shares of the company's stock, valued at $1,178,776.99. This represents a 10.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Phillip James Mason sold 750 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $120.97, for a total value of $90,727.50. Following the sale, the insider owned 8,815 shares in the company, valued at $1,066,350.55. The trade was a 7.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders bought 678 shares of company stock worth $75,948 and sold 20,845 shares worth $2,440,666. Corporate insiders own 5.45% of the company's stock.

UMB Financial Stock Up 0.4%

NASDAQ:UMBF opened at $119.99 on Tuesday. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. The stock has a market capitalization of $9.11 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.35 and a beta of 0.73. 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 company's 50-day simple moving average is $117.96 and its 200-day simple moving average is $106.91.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted 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 net margin of 15.42% and a return on equity of 12.27%. UMB Financial's revenue for the quarter was up 76.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.16 earnings per share. 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. UMB Financial's dividend payout ratio (DPR) is presently 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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