MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 17,696 Shares of UMB Financial Corporation $UMBF

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. raised its stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 41.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,344 shares of the bank's stock after acquiring an additional 17,696 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.08% of UMB Financial worth $6,101,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UMBF. Brooklyn Investment Group increased its position in UMB Financial by 4,840.0% in 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. Rothschild Investment LLC increased its position in 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 acquiring an additional 221 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in UMB Financial in the 1st quarter valued at about $27,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in UMB Financial in the 1st quarter valued at about $35,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in UMB Financial by 143.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank's stock valued at $37,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.

UMB Financial Trading Down 1.2%

UMB Financial stock traded down $1.50 during midday trading on Tuesday, hitting $118.89. 406,539 shares of the stock were exchanged, compared to its average volume of 483,327. The company has a fifty day simple moving average of $114.95 and a two-hundred day simple moving average of $105.15. UMB Financial Corporation has a 52 week low of $82.00 and a 52 week high of $129.94. The stock has a market capitalization of $9.03 billion, a PE ratio of 13.67, a P/E/G ratio of 1.38 and a beta of 0.77. 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 (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share 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 business had revenue of $689.21 million for the quarter, compared to analyst estimates of $638.25 million. During the same quarter last year, the firm earned $2.16 EPS. UMB Financial's quarterly revenue was up 76.7% compared to the same quarter last year. Equities research analysts anticipate that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

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

Insider Transactions at UMB Financial

In other UMB Financial news, insider Stacy H. King sold 1,500 shares of UMB Financial 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 transaction, the insider owned 9,472 shares of the company's stock, valued at approximately $1,126,031.36. The trade was a 13.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO J Mariner Kemper sold 15,523 shares of UMB Financial stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $116.33, for a total transaction of $1,805,790.59. Following the completion of the transaction, the chief executive officer directly owned 1,536,781 shares in the company, valued at approximately $178,773,733.73. The trade was a 1.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 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.

Analyst Ratings Changes

Several equities research analysts have recently commented on UMBF shares. Raymond James Financial lifted their price target on shares of UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 31st. Barclays lifted their price target on shares of UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Truist Financial lifted their price target on shares of UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Wells Fargo & Company lifted their price target on shares of UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Piper Sandler lifted their price target on shares of UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $133.89.

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.