Sequoia Financial Advisors LLC Invests $348,000 in UMB Financial Corporation $UMBF

Key Points

• Sequoia Financial Advisors LLC made a new investment of $348,000 by acquiring 3,306 shares in UMB Financial Corporation during the second quarter.
• UMB Financial reported strong quarterly earnings, with a EPS of $2.96, exceeding analysts' expectations by $0.61, and a revenue increase of 76.7% year-over-year.
• The company announced a quarterly dividend of $0.40, reflecting an annualized yield of 1.4% and a payout ratio of 18.39%.

Sequoia Financial Advisors LLC acquired a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,306 shares of the bank's stock, valued at approximately $348,000.

A number of other hedge funds have also bought and sold shares of UMBF. Vest Financial LLC raised its position in UMB Financial by 165.6% in the 2nd quarter. Vest Financial LLC now owns 20,004 shares of the bank's stock worth $2,104,000 after buying an additional 12,472 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of UMB Financial by 2.8% in the second quarter. Yousif Capital Management LLC now owns 23,933 shares of the bank's stock worth $2,517,000 after acquiring an additional 650 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of UMB Financial by 3.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,976,030 shares of the bank's stock valued at $213,688,000 after purchasing an additional 63,147 shares during the last quarter. CWM LLC lifted its position in UMB Financial by 4.4% during the second quarter. CWM LLC now owns 11,068 shares of the bank's stock valued at $1,164,000 after purchasing an additional 465 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in UMB Financial by 3.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,931 shares of the bank's stock valued at $624,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 87.78% of the company's stock.

UMB Financial Stock Performance

NASDAQ:UMBF opened at $111.87 on Wednesday. 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 stock has a 50-day simple moving average of $118.90 and a two-hundred day simple moving average of $108.46. The firm has a market capitalization of $8.49 billion, a PE ratio of 12.86, a P/E/G ratio of 1.15 and a beta of 0.73. 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 posted its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, beating analysts' consensus estimates of $2.35 by $0.61. The firm had revenue of $689.21 million for 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 business's quarterly revenue was up 76.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.16 EPS. Analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th were paid 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 1.4%. UMB Financial's dividend payout ratio is 18.39%.

Insider Activity

In other UMB Financial news, EVP Amy Harris sold 500 shares of the firm's stock in a transaction dated 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 $888,915.70. This trade represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shannon Andresen Johnson sold 1,367 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $120.58, for a total value of $164,832.86. Following the completion of the transaction, the insider directly owned 34,124 shares of the company's stock, valued at approximately $4,114,671.92. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 678 shares of company stock worth $75,948 and sold 20,845 shares worth $2,440,666. Company insiders own 5.45% of the company's stock.

Wall Street Analysts Forecast Growth

UMBF has been the subject of a number of research analyst reports. Hovde Group started coverage on shares of UMB Financial in a research report on Monday, October 6th. They issued an "outperform" rating for the company. Truist Financial upped 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. TD Cowen began coverage on UMB Financial in a report on Thursday, September 25th. They issued a "buy" rating and a $151.00 target price on the stock. Morgan Stanley boosted their price target on UMB Financial from $120.00 to $154.00 and gave the company an "overweight" rating in a research note on Monday, September 29th. Finally, Piper Sandler upped their price target on shares of UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $138.00.

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.

Want to see what other hedge funds are holding UMBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UMB Financial Corporation (NASDAQ:UMBF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.