UMB Financial Corporation $UMBF Position Increased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its position in UMB Financial Corporation by 43.9%, now owning approximately 1.21% of the company, valued at $92.7 million.
• Insider trading activity includes Director Greg M. Graves purchasing 261 shares while CEO J Mariner Kemper sold 15,523 shares, indicating diverse sentiment among company leaders.
• Several analysts have raised their price targets for UMB Financial, with Piper Sandler increasing theirs to $148.00 and the stock currently holding a consensus rating of "Moderate Buy."

Northern Trust Corp increased its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 43.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 916,964 shares of the bank's stock after acquiring an additional 279,892 shares during the period. Northern Trust Corp owned about 1.21% of UMB Financial worth $92,705,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group raised its holdings in shares of UMB Financial by 4,840.0% during the first quarter. Brooklyn Investment Group now owns 247 shares of the bank's stock worth $25,000 after acquiring an additional 242 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of UMB Financial by 442.0% during the first quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after acquiring an additional 221 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of UMB Financial during the first quarter worth $27,000. Neo Ivy Capital Management purchased a new stake in shares of UMB Financial during the first quarter worth $42,000. Finally, Versant Capital Management Inc raised its holdings in shares of UMB Financial by 703.2% during the first quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock worth $50,000 after acquiring an additional 436 shares in the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other UMB Financial news, Director Greg M. Graves purchased 261 shares of the stock in a transaction dated Friday, August 1st. The shares were bought at an average cost 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 $4,066,524. This trade represents a 0.70% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Mariner Kemper sold 15,523 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $116.33, for a total value of $1,805,790.59. Following the completion of the sale, the chief executive officer directly owned 1,536,781 shares in the company, valued at approximately $178,773,733.73. This represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,640 shares of company stock valued at $2,675,091. 5.45% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Piper Sandler increased their price objective on UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Truist Financial increased their target price on shares of UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. 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 research report on Friday, August 1st. Wall Street Zen downgraded shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Finally, Raymond James Financial increased their target price on shares of UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $132.11.

UMB Financial Trading Up 5.6%

Shares of NASDAQ:UMBF opened at $121.59 on Monday. The company has a market cap of $9.23 billion, a P/E ratio of 13.98, a P/E/G ratio of 1.38 and a beta of 0.77. The stock's 50-day moving average is $108.05 and its 200-day moving average is $103.61. UMB Financial Corporation has a 52-week low of $82.00 and a 52-week high of $129.94. 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 issued its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.61. The company had revenue of $689.21 million for the quarter, compared to the consensus estimate of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The firm's revenue was up 76.7% compared to the same quarter last year. During the same period last year, the business posted $2.16 earnings per share. Equities research analysts predict that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 10th. UMB Financial's dividend payout ratio (DPR) is currently 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.

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