UMB Financial Corporation $UMBF Stake Boosted by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in UMB Financial Corporation by 41.5%, acquiring an additional 17,696 shares, bringing its total ownership to 60,344 shares valued at $6.1 million.
• Multiple institutional investors have significantly boosted their holdings in UMB Financial, with 87.78% of the stock currently owned by hedge funds and institutions.
• UMB Financial reported earnings of $2.96 per share for the last quarter, exceeding analyst expectations by $0.61, and their revenue increased by 76.7% year-over-year.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 41.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,344 shares of the bank's stock after acquiring an additional 17,696 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.08% of UMB Financial worth $6,101,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group grew its holdings in shares of UMB Financial by 4,840.0% during the 1st quarter. Brooklyn Investment Group now owns 247 shares of the bank's stock valued at $25,000 after acquiring an additional 242 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in UMB Financial in the first quarter worth $27,000. Rothschild Investment LLC boosted its holdings in UMB Financial by 442.0% in the first quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after purchasing an additional 221 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in UMB Financial in the first quarter worth $35,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in UMB Financial by 143.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank's stock worth $37,000 after purchasing an additional 213 shares in the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UMBF has been the subject of a number of recent research reports. Royal Bank Of Canada upped their price objective 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. Truist Financial upped their price objective on shares of UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a report on Monday. Piper Sandler upped their price objective on shares of UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Wells Fargo & Company upped their price objective 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. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.89.

UMB Financial Stock Down 0.3%

UMB Financial stock opened at $121.99 on Thursday. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 1.39 and a beta of 0.77. 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 firm has a fifty day moving average price of $112.46 and a two-hundred day moving average price of $104.72.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its 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 firm had revenue of $689.21 million during 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%. The business's revenue was up 76.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 EPS. As a group, analysts forecast that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. UMB Financial's dividend payout ratio is currently 18.39%.

Insider Buying and Selling at UMB Financial

In other news, insider Phillip James Mason sold 750 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $120.97, for a total transaction of $90,727.50. Following the completion of the transaction, the insider owned 8,815 shares of the company's stock, valued at approximately $1,066,350.55. This represents a 7.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shannon Andresen Johnson sold 1,367 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $120.58, for a total transaction of $164,832.86. Following the transaction, the insider directly 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 three months, insiders have acquired 678 shares of company stock valued at $75,948 and have sold 20,845 shares valued at $2,440,666. Corporate insiders own 5.45% of the company's stock.

UMB Financial 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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