Vanguard Group Inc. Grows Stock Holdings in UMB Financial Corporation (NASDAQ:UMBF)

Key Points

• Vanguard Group Inc. increased its stake in UMB Financial Corporation by 54%, now owning 9.66% of the company, valued at approximately $741 million.
• UMB Financial announced a quarterly dividend of $0.40 per share to be paid on October 1st, reflecting an annualized yield of 1.4%.
• The company's earnings report indicated a significant increase in revenue, with earnings per share at $2.96, surpassing the consensus estimate by $0.61.

Vanguard Group Inc. grew its stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 54.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,332,764 shares of the bank's stock after buying an additional 2,570,283 shares during the period. Vanguard Group Inc. owned 9.66% of UMB Financial worth $741,342,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rothschild Investment LLC lifted its stake in UMB Financial by 442.0% in the 1st quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after purchasing an additional 221 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of UMB Financial during the first quarter valued at approximately $42,000. Versant Capital Management Inc boosted its holdings in UMB Financial by 703.2% during the 1st quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock valued at $50,000 after acquiring an additional 436 shares during the period. Covestor Ltd grew its holdings in shares of UMB Financial by 28.8% in the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after purchasing an additional 124 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in UMB Financial by 38.1% in the 1st quarter. Fifth Third Bancorp now owns 624 shares of the bank's stock worth $63,000 after acquiring an additional 172 shares in the last quarter. Institutional investors own 87.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UMBF. Wells Fargo & Company raised their price target on UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Raymond James Financial increased their price target on UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 31st. Royal Bank Of Canada lifted their price target on UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Finally, Barclays upped their price objective on shares of UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $132.11.

Insider Activity

In other news, CEO J Mariner Kemper sold 15,523 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $116.33, for a total transaction of $1,805,790.59. Following the completion of the transaction, the chief executive officer directly owned 1,536,781 shares of the company's stock, valued at approximately $178,773,733.73. This represents a 1.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Brian Beaird sold 1,205 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $116.17, for a total transaction of $139,984.85. Following the completion of the sale, the insider owned 10,147 shares of the company's stock, valued at $1,178,776.99. This trade represents a 10.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,140 shares of company stock valued at $2,496,771. Insiders own 5.45% of the company's stock.

UMB Financial Trading Down 1.7%

NASDAQ:UMBF traded down $1.98 on Friday, reaching $115.08. The company's stock had a trading volume of 528,918 shares, compared to its average volume of 663,998. The stock has a 50 day moving average price of $106.22 and a 200 day moving average price of $103.61. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. UMB Financial Corporation has a 12-month low of $82.00 and a 12-month high of $129.94. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 1.33 and a beta of 0.77.

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

UMB Financial Announces Dividend

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 issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 10th. UMB Financial's payout ratio 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.