LPL Financial LLC Buys 4,775 Shares of UMB Financial Corporation $UMBF

Key Points

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LPL Financial LLC lifted its holdings in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 23.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,104 shares of the bank's stock after acquiring an additional 4,775 shares during the period. LPL Financial LLC's holdings in UMB Financial were worth $2,538,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UMBF. Rothschild Investment LLC lifted its stake in shares of UMB Financial by 442.0% in the 1st quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock valued at $27,000 after purchasing an additional 221 shares during the period. Neo Ivy Capital Management acquired a new position in shares of UMB Financial in the 1st quarter valued at about $42,000. Versant Capital Management Inc lifted its stake in shares of UMB Financial by 703.2% in the 1st quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock valued at $50,000 after purchasing an additional 436 shares during the period. Fifth Third Bancorp lifted its stake in shares of UMB Financial by 38.1% in the 1st quarter. Fifth Third Bancorp now owns 624 shares of the bank's stock valued at $63,000 after purchasing an additional 172 shares during the period. Finally, Marquette Asset Management LLC acquired a new position in shares of UMB Financial in the 1st quarter valued at about $82,000. 87.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at UMB Financial

In other news, Director Greg M. Graves acquired 261 shares of UMB Financial stock in a transaction on Friday, August 1st. The stock was acquired at an average cost of $107.58 per share, with a total value of $28,078.38. Following the completion of the acquisition, the director owned 37,800 shares in the company, valued at approximately $4,066,524. This trade represents a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Brian Beaird sold 1,205 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $116.17, for a total value of $139,984.85. Following the transaction, the insider directly owned 10,147 shares of the company's stock, valued at approximately $1,178,776.99. This trade represents a 10.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,640 shares of company stock valued at $2,675,091 in the last three months. 5.45% of the stock is currently owned by company insiders.

Analyst Ratings Changes

UMBF has been the topic of a number of recent analyst reports. Barclays boosted their price objective on UMB Financial from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Wall Street Zen cut shares of UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Royal Bank Of Canada raised their price target on shares of UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Wells Fargo & Company boosted their target price on UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Finally, Truist Financial boosted their target price on UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Friday, July 11th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $132.11.

UMB Financial Stock Performance

UMBF stock traded up $6.40 during midday trading on Friday, hitting $121.59. The company's stock had a trading volume of 836,030 shares, compared to its average volume of 635,146. The stock's 50-day moving average price is $108.05 and its 200 day moving average price is $103.68. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. UMB Financial Corporation has a 1 year low of $82.00 and a 1 year high of $129.94. The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.38 and a beta 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, topping 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 company had revenue of $689.21 million during the quarter, compared to analyst estimates of $638.25 million. During the same quarter last year, the business posted $2.16 EPS. UMB Financial's quarterly revenue was up 76.7% compared to the same quarter last year. On average, equities analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 10th. UMB Financial's dividend 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.