UMB Financial Corporation $UMBF Shares Purchased by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. increased its holdings in UMB Financial Corporation by 118.1%, owning approximately 0.27% of the company with shares valued at $20.43 million as of the latest quarter.
• Several brokerage firms have raised their price targets for UMB Financial, with Piper Sandler setting a target of $148.00, indicating strong market expectations for the stock.
• UMB Financial recently reported $2.96 EPS for the last quarter, surpassing estimates and showcasing year-over-year revenue growth of 76.7%.

Alliancebernstein L.P. grew its position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 118.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 202,075 shares of the bank's stock after acquiring an additional 109,434 shares during the period. Alliancebernstein L.P. owned about 0.27% of UMB Financial worth $20,430,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Adage Capital Partners GP L.L.C. increased its stake in shares of UMB Financial by 50.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 453,900 shares of the bank's stock worth $45,889,000 after purchasing an additional 152,192 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its stake in UMB Financial by 19.9% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 16,143 shares of the bank's stock valued at $1,633,000 after acquiring an additional 2,674 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in UMB Financial by 86.3% in the 1st quarter. EP Wealth Advisors LLC now owns 4,399 shares of the bank's stock valued at $445,000 after purchasing an additional 2,038 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in UMB Financial in the 1st quarter valued at about $2,538,000. Finally, Royal Bank of Canada boosted its holdings in UMB Financial by 28.2% in the 1st quarter. Royal Bank of Canada now owns 42,829 shares of the bank's stock valued at $4,329,000 after purchasing an additional 9,417 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.

UMB Financial Stock Performance

Shares of UMBF stock traded down $1.50 during mid-day trading on Tuesday, hitting $118.89. The stock had a trading volume of 406,539 shares, compared to its average volume of 483,327. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. The company's 50-day simple moving average is $114.95 and its 200-day simple moving average is $105.15. The firm has a market cap of $9.03 billion, a PE ratio of 13.67, a PEG ratio of 1.38 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 EPS for the quarter, beating the consensus estimate of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The firm had revenue of $689.21 million during the quarter, compared to analysts' expectations of $638.25 million. During the same quarter last year, the business earned $2.16 earnings per share. The business's revenue for the quarter was up 76.7% compared to the same quarter last year. Sell-side analysts anticipate 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. Shareholders of record on Wednesday, September 10th will be issued 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 is 18.39%.

Analysts Set New Price Targets

Several brokerages have recently commented on UMBF. Raymond James Financial upped 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. 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. Royal Bank Of Canada increased their price objective on shares of UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Truist Financial increased their target price on shares of UMB Financial from $130.00 to $144.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Finally, Piper Sandler increased their target price on shares of UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $133.89.

Insider Buying and Selling

In other news, insider Stacy H. King sold 1,500 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $118.88, for a total value of $178,320.00. Following the completion of the transaction, the insider owned 9,472 shares of the company's stock, valued at $1,126,031.36. The trade was a 13.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $164,832.86. Following the completion of the transaction, the insider directly owned 34,124 shares of the company's stock, valued at approximately $4,114,671.92. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 678 shares of company stock valued at $75,948 and have sold 20,845 shares valued at $2,440,666. 5.45% of the stock is currently owned by company 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.