SG Americas Securities LLC Purchases 8,013 Shares of UMB Financial Corporation $UMBF

Key Points

• SG Americas Securities LLC increased its UMB Financial stake by 62.7% in the first quarter, adding 8,013 shares to bring its total holdings to 20,784 shares worth about $2.34 million.
• UMB Financial reported strong quarterly results, with EPS of $3.41 beating estimates by $0.59 and revenue of $739.16 million topping expectations; revenue also rose 31.1% from a year earlier.
• The bank recently paid a quarterly dividend of $0.43 per share, while analysts remain generally positive with a consensus rating of “Buy” and an average price target of $148.09.

SG Americas Securities LLC grew its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 62.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,784 shares of the bank's stock after purchasing an additional 8,013 shares during the quarter. SG Americas Securities LLC's holdings in UMB Financial were worth $2,344,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new stake in UMB Financial in the fourth quarter worth approximately $27,000. Hilton Head Capital Partners LLC purchased a new position in shares of UMB Financial during the fourth quarter worth approximately $34,000. Torren Management LLC bought a new stake in shares of UMB Financial in the 4th quarter worth approximately $37,000. EverSource Wealth Advisors LLC lifted its holdings in shares of UMB Financial by 193.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 405 shares of the bank's stock worth $43,000 after acquiring an additional 267 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of UMB Financial by 419.2% in the 4th quarter. Global Retirement Partners LLC now owns 405 shares of the bank's stock valued at $47,000 after purchasing an additional 327 shares in the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Trading Up 2.0%

NASDAQ:UMBF opened at $145.65 on Thursday. The firm has a market capitalization of $11.07 billion, a P/E ratio of 12.92, a P/E/G ratio of 0.97 and a beta of 0.77. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $131.39 and a 200 day moving average of $123.96. UMB Financial Corporation has a 52 week low of $103.38 and a 52 week high of $146.60.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.59. The firm had revenue of $739.16 million for the quarter, compared to analysts' expectations of $701.79 million. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. The company's revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 earnings per share. On average, research analysts predict that UMB Financial Corporation will post 12.83 earnings per share for the current year.

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, June 10th. UMB Financial's dividend payout ratio is currently 15.26%.

Insider Buying and Selling

In related news, Director Kevin Charles Gallagher sold 381 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total value of $50,627.28. Following the completion of the sale, the director owned 12,223 shares of the company's stock, valued at $1,624,192.24. This trade represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President James D. Rine sold 8,246 shares of UMB Financial stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the completion of the sale, the president owned 61,446 shares in the company, valued at approximately $8,147,125.14. This trade represents a 11.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on UMBF. Piper Sandler increased their target price on shares of UMB Financial from $155.00 to $161.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Hovde Group boosted their price target on shares of UMB Financial from $145.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Zacks Research raised UMB Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. Royal Bank Of Canada lifted their price objective on UMB Financial from $138.00 to $142.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Finally, TD Cowen boosted their target price on UMB Financial from $141.00 to $147.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, UMB Financial presently has an average rating of "Buy" and a consensus price target of $148.09.

UMB Financial Profile

UMB Financial Corporation NASDAQ: UMBF is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.