Vaughan Nelson Investment Management L.P. Acquires New Position in UMB Financial Corporation $UMBF

Key Points

• Vaughan Nelson Investment Management opened a new position in UMB Financial, buying 294,880 shares worth about $33.26 million in the first quarter, according to its latest 13F filing.
• UMB Financial reported strong quarterly earnings, posting $3.41 EPS versus $2.82 expected and revenue of $739.16 million, with revenue up 31.1% year over year.
• The company also announced a quarterly dividend of $0.43 per share, while analysts remain generally bullish with an average Buy rating and a target price of $145.55.

Vaughan Nelson Investment Management L.P. acquired a new stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 294,880 shares of the bank's stock, valued at approximately $33,260,000. Vaughan Nelson Investment Management L.P. owned 0.39% of UMB Financial at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Alliancebernstein L.P. raised its stake in shares of UMB Financial by 636.7% during the second quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank's stock valued at $156,543,000 after acquiring an additional 1,286,543 shares in the last quarter. Wellington Management Group LLP grew its stake in UMB Financial by 32.0% in the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank's stock worth $366,743,000 after purchasing an additional 751,525 shares in the last quarter. Norges Bank purchased a new position in UMB Financial during the 4th quarter worth $85,885,000. UMB Bank n.a. increased its holdings in UMB Financial by 11.4% during the 4th quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank's stock worth $553,322,000 after purchasing an additional 493,875 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in UMB Financial by 1,148.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 422,065 shares of the bank's stock valued at $48,554,000 after purchasing an additional 388,253 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on UMBF shares. Weiss Ratings upgraded UMB Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, April 27th. Truist Financial set a $140.00 price objective on UMB Financial in a report on Friday, May 1st. TD Cowen upped their price objective on shares of UMB Financial from $141.00 to $147.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Morgan Stanley lowered their price objective on shares of UMB Financial from $156.00 to $143.00 and set an "overweight" rating for the company in a research note on Tuesday, March 31st. Finally, Piper Sandler raised their target price on shares of UMB Financial from $152.00 to $155.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, UMB Financial has an average rating of "Buy" and an average target price of $145.55.

UMB Financial Stock Up 2.9%

Shares of NASDAQ UMBF opened at $136.94 on Tuesday. UMB Financial Corporation has a 12-month low of $99.10 and a 12-month high of $137.56. The stock's fifty day simple moving average is $128.38 and its two-hundred day simple moving average is $122.64. The stock has a market capitalization of $10.40 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 0.90 and a beta of 0.78. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The bank reported $3.41 EPS for the quarter, topping the consensus estimate of $2.82 by $0.59. The firm had revenue of $739.16 million during the quarter, compared to analyst estimates of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The business's revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.58 EPS. As a group, analysts expect that UMB Financial Corporation will post 12.8 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be issued a $0.43 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.72 dividend on an annualized basis and a yield of 1.3%. UMB Financial's payout ratio is currently 15.26%.

Insider Transactions at UMB Financial

In other UMB Financial news, Director Kevin Charles Gallagher sold 381 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $132.88, for a total transaction of $50,627.28. Following the completion of the sale, the director directly owned 12,223 shares of the company's stock, valued at approximately $1,624,192.24. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President James D. Rine sold 8,246 shares of the firm's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the completion of the sale, the president owned 61,446 shares in the company, valued at $8,147,125.14. This represents a 11.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 5.33% of the company's stock.

UMB Financial Company Profile

UMB Financial Corporation NASDAQ: UMBF is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.