UMB Financial Corporation $UMBF Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC increased its stake in UMB Financial Corporation by 3.3%, owning approximately 2.60% of the company worth $213.7 million after acquiring additional shares in the second quarter.
• Insiders have been active, with Stacy H. King selling 1,500 shares and Shannon Andresen Johnson selling 1,367 shares, reflecting a decrease in their holdings.
• UMB Financial reported strong quarterly earnings, with $2.96 earnings per share, surpassing estimates and showing a 76.7% year-over-year revenue increase.

Allspring Global Investments Holdings LLC grew its position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,976,030 shares of the bank's stock after purchasing an additional 63,147 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.60% of UMB Financial worth $213,688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Truist Financial Corp lifted its position in UMB Financial by 0.5% during the 2nd quarter. Truist Financial Corp now owns 20,426 shares of the bank's stock worth $2,148,000 after acquiring an additional 97 shares in the last quarter. MAI Capital Management lifted its position in UMB Financial by 14.7% during the 1st quarter. MAI Capital Management now owns 771 shares of the bank's stock worth $78,000 after acquiring an additional 99 shares in the last quarter. OLD National Bancorp IN increased its holdings in UMB Financial by 0.4% during the 2nd quarter. OLD National Bancorp IN now owns 22,834 shares of the bank's stock worth $2,401,000 after purchasing an additional 100 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in UMB Financial by 4.1% during the 1st quarter. Crossmark Global Holdings Inc. now owns 3,784 shares of the bank's stock worth $383,000 after purchasing an additional 150 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its holdings in UMB Financial by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 9,298 shares of the bank's stock worth $978,000 after purchasing an additional 153 shares during the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Stacy H. King sold 1,500 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $118.88, for a total transaction of $178,320.00. Following the completion of the transaction, the insider owned 9,472 shares in the company, valued at $1,126,031.36. The trade was a 13.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shannon Andresen Johnson sold 1,367 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $120.58, for a total value of $164,832.86. Following the transaction, the insider owned 34,124 shares of the company's stock, valued at $4,114,671.92. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 678 shares of company stock worth $75,948 and sold 20,845 shares worth $2,440,666. Insiders own 5.45% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Royal Bank Of Canada lifted their price objective on UMB Financial from $122.00 to $128.00 and gave the stock a "sector perform" rating in a report on Friday. Raymond James Financial lifted their price objective on UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Morgan Stanley lifted their price objective on UMB Financial from $120.00 to $154.00 and gave the stock an "overweight" rating in a report on Monday, September 29th. TD Cowen assumed coverage on UMB Financial in a report on Thursday, September 25th. They set a "buy" rating and a $151.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on UMB Financial from $125.00 to $130.00 and gave the stock an "equal weight" rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $138.00.

UMB Financial Price Performance

Shares of NASDAQ UMBF opened at $113.02 on Monday. UMB Financial Corporation has a twelve month low of $82.00 and a twelve month high of $129.94. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 1.15 and a beta of 0.73. The business has a 50 day simple moving average of $118.57 and a 200-day simple moving average of $107.36.

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 for the quarter, beating analysts' consensus estimates of $2.35 by $0.61. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The business had revenue of $689.21 million during the quarter, compared to the consensus estimate of $638.25 million. During the same period in the previous year, the business earned $2.16 EPS. The business's quarterly revenue was up 76.7% on a year-over-year basis. As a group, equities research analysts expect that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Wednesday, September 10th. UMB Financial's payout ratio is 18.39%.

UMB Financial Company 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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