UMB Financial Corporation (NASDAQ:UMBF) Stake Boosted by US Bancorp DE

US Bancorp DE lifted its stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 27.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,743 shares of the bank's stock after acquiring an additional 3,638 shares during the quarter. US Bancorp DE's holdings in UMB Financial were worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. LPL Financial LLC raised its stake in shares of UMB Financial by 171.6% during the 4th quarter. LPL Financial LLC now owns 20,329 shares of the bank's stock worth $2,294,000 after purchasing an additional 12,845 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of UMB Financial by 16.4% in the 4th quarter. Wells Fargo & Company MN now owns 51,929 shares of the bank's stock valued at $5,861,000 after acquiring an additional 7,318 shares in the last quarter. Federated Hermes Inc. raised its position in shares of UMB Financial by 107.7% in the fourth quarter. Federated Hermes Inc. now owns 118,527 shares of the bank's stock valued at $13,377,000 after purchasing an additional 61,468 shares during the period. Bank of Montreal Can lifted its position in UMB Financial by 16.5% during the 4th quarter. Bank of Montreal Can now owns 6,270 shares of the bank's stock worth $708,000 after acquiring an additional 886 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of UMB Financial by 31.4% in the fourth quarter. Invesco Ltd. now owns 309,980 shares of the bank's stock valued at $34,984,000 after purchasing an additional 74,038 shares during the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at UMB Financial

In related news, Director Greg M. Graves bought 261 shares of the company's stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of $107.58 per share, with a total value of $28,078.38. Following the acquisition, the director owned 37,800 shares in the company, valued at approximately $4,066,524. This represents a 0.70% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO J Mariner Kemper sold 5,412 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the sale, the chief executive officer directly owned 288,945 shares in the company, valued at approximately $29,417,490.45. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on UMBF. Wall Street Zen downgraded UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Wells Fargo & Company upped their price target on UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Piper Sandler raised their price objective on shares of UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Truist Financial upped their target price on shares of UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Bank of America initiated coverage on shares of UMB Financial in a report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $132.11.

UMB Financial Trading Down 1.3%

Shares of UMB Financial stock opened at $108.61 on Friday. UMB Financial Corporation has a 52-week low of $82.00 and a 52-week high of $129.94. The firm has a market capitalization of $8.25 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.26 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. The company's fifty day moving average price is $105.27 and its two-hundred day moving average price is $103.86.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.61. The business had revenue of $689.21 million for the quarter, compared to analyst estimates of $638.25 million. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The firm's revenue was up 76.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.16 EPS. On average, analysts expect that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, September 10th. UMB Financial's dividend payout ratio is currently 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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