UMB Financial Corporation $UMBF Shares Bought 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 holdings in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 118.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 202,075 shares of the bank's stock after purchasing an additional 109,434 shares during the quarter. Alliancebernstein L.P. owned approximately 0.27% of UMB Financial worth $20,430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group boosted its stake in UMB Financial by 4,840.0% during the 1st quarter. Brooklyn Investment Group now owns 247 shares of the bank's stock worth $25,000 after purchasing an additional 242 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in UMB Financial during the 1st quarter worth $27,000. Rothschild Investment LLC boosted its stake in UMB Financial by 442.0% during the 1st quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after purchasing an additional 221 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in UMB Financial during the 1st quarter worth $35,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in UMB Financial by 143.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank's stock worth $37,000 after purchasing an additional 213 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on UMBF. Piper Sandler boosted their price target 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. Truist Financial boosted their price target on shares of UMB Financial from $130.00 to $144.00 and gave the company a "buy" rating in a research report on Monday. Wells Fargo & Company boosted their price target on shares of UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Raymond James Financial boosted their price target on shares of UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 31st. Finally, Barclays boosted their price target on shares of UMB Financial from $140.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $133.89.

Insider Transactions at UMB Financial

In other news, EVP Amy Harris sold 500 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $122.02, for a total transaction of $61,010.00. Following the sale, the executive vice president owned 7,285 shares of the company's stock, valued at approximately $888,915.70. This represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shannon Andresen Johnson sold 1,367 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $120.58, for a total transaction of $164,832.86. Following the sale, the insider directly owned 34,124 shares in the company, 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 90 days, insiders bought 678 shares of company stock worth $75,948 and sold 20,845 shares worth $2,440,666. Corporate insiders own 5.45% of the company's stock.

UMB Financial Stock Down 0.3%

Shares of UMBF opened at $121.99 on Thursday. The firm has a market cap of $9.26 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.39 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 company's 50-day moving average price is $112.46 and its 200 day moving average price is $104.72. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $689.21 million for the quarter, compared to analyst estimates of $638.25 million. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. UMB Financial's revenue was up 76.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.16 EPS. On average, sell-side analysts forecast that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.3%. The ex-dividend date is 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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