UMB Financial Corporation $UMBF Shares Acquired by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. has increased its holdings in UMB Financial Corporation by 86.0%, now owning 10,288 shares worth approximately $1.08 million.
• Institutional investors own 87.78% of UMB Financial's shares, indicating strong support from hedge funds and investment firms.
• Several analysts have raised their price targets for UMB Financial, with Morgan Stanley setting the highest target at $154.00 and indicating a consensus rating of "Moderate Buy."

Envestnet Portfolio Solutions Inc. lifted its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 86.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,288 shares of the bank's stock after purchasing an additional 4,756 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in UMB Financial were worth $1,082,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of UMB Financial by 21.1% during the first quarter. Bank of New York Mellon Corp now owns 546,483 shares of the bank's stock worth $55,249,000 after purchasing an additional 95,339 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in shares of UMB Financial by 27.4% during the first quarter. OneDigital Investment Advisors LLC now owns 2,367 shares of the bank's stock worth $239,000 after purchasing an additional 509 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of UMB Financial by 96.3% during the first quarter. Teacher Retirement System of Texas now owns 15,723 shares of the bank's stock worth $1,590,000 after purchasing an additional 7,715 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of UMB Financial by 2.8% during the first quarter. New York State Teachers Retirement System now owns 60,376 shares of the bank's stock worth $6,104,000 after purchasing an additional 1,664 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in UMB Financial in the 1st quarter valued at about $237,000. Institutional investors and hedge funds own 87.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Raymond James Financial boosted their price target on UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 31st. Piper Sandler boosted their price target on UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Truist Financial boosted their price target on UMB Financial from $130.00 to $144.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Wells Fargo & Company boosted their price target on UMB Financial from $125.00 to $130.00 and gave the company an "equal weight" rating in a research report on Monday, September 29th. Finally, Morgan Stanley boosted their price target on UMB Financial from $120.00 to $154.00 and gave the company an "overweight" rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $138.00.

UMB Financial Stock Performance

NASDAQ UMBF opened at $108.85 on Friday. 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 business's 50 day moving average is $118.90 and its two-hundred day moving average is $108.01. UMB Financial Corporation has a 12-month low of $82.00 and a 12-month high of $129.94. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.11 and a beta of 0.73.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. The business had revenue of $689.21 million for the quarter, compared to analysts' expectations of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The company's revenue was up 76.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.16 EPS. Research analysts expect that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. UMB Financial's dividend payout ratio is currently 18.39%.

Insiders Place Their Bets

In related news, insider Phillip James Mason sold 750 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $120.97, for a total value of $90,727.50. Following the sale, the insider owned 8,815 shares in the company, valued at $1,066,350.55. This represents a 7.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Greg M. Graves purchased 234 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was purchased at an average price of $120.44 per share, for a total transaction of $28,182.96. Following the acquisition, the director owned 38,034 shares in the company, valued at approximately $4,580,814.96. This trade represents a 0.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 678 shares of company stock worth $75,948 and have sold 20,845 shares worth $2,440,666. 5.45% of the stock is currently owned by insiders.

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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