American Century Companies Inc. Purchases 146,585 Shares of UMB Financial Corporation $UMBF

Key Points

• American Century Companies Inc. increased its stake in UMB Financial Corporation by 7.7% during the first quarter, holding over 2 million shares valued at approximately $207 million.
• Analysts have issued mixed ratings for UMB Financial, with one firm lowering its rating to "sell," while others have raised target prices, resulting in a consensus rating of "Moderate Buy."
• UMB Financial will pay a quarterly dividend of $0.40 per share on October 1st, reflecting a yield of 1.4% based on an 18.39% payout ratio.

American Century Companies Inc. grew its position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,054,007 shares of the bank's stock after purchasing an additional 146,585 shares during the period. American Century Companies Inc. owned about 2.71% of UMB Financial worth $207,660,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in UMB Financial in the first quarter worth $27,000. Rothschild Investment LLC raised its holdings in UMB Financial by 442.0% in the first quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after purchasing an additional 221 shares during the period. Neo Ivy Capital Management acquired a new stake in UMB Financial in the first quarter worth $42,000. Versant Capital Management Inc raised its holdings in UMB Financial by 703.2% in the first quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock worth $50,000 after purchasing an additional 436 shares during the period. Finally, Fifth Third Bancorp raised its holdings in UMB Financial by 38.1% in the first quarter. Fifth Third Bancorp now owns 624 shares of the bank's stock worth $63,000 after purchasing an additional 172 shares during the period. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at UMB Financial

In other UMB Financial news, Director Greg M. Graves bought 261 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average price of $107.58 per share, with a total value of $28,078.38. Following the completion of the transaction, the director owned 37,800 shares in the company, valued at approximately $4,066,524. This trade represents a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Mariner Kemper sold 15,523 shares of UMB Financial stock in a transaction dated Wednesday, August 13th. The shares were 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 trade represents a 1.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,140 shares of company stock valued at $2,496,771. Corporate insiders own 5.45% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Raymond James Financial raised their price objective on shares of UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Barclays raised their price objective on shares of UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Truist Financial raised their price objective on shares of UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, 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 report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $132.11.

UMB Financial Stock Up 0.0%

UMB Financial stock traded up $0.0090 during mid-day trading on Thursday, reaching $115.7690. The company's stock had a trading volume of 59,968 shares, compared to its average volume of 657,778. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.32 and a beta of 0.77. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $129.94. The business's 50 day simple moving average is $107.28 and its 200 day simple moving average is $103.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results 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 business had revenue of $689.21 million during the quarter, compared to the consensus estimate 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 for the quarter was up 76.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.16 earnings per share. As a group, research analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. UMB Financial's dividend payout ratio (DPR) is 18.39%.

UMB Financial 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.