Vest Financial LLC Makes New Investment in UMB Financial Co. (NASDAQ:UMBF)

Vest Financial LLC purchased a new stake in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,532 shares of the bank's stock, valued at approximately $761,000.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of UMB Financial by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,762,481 shares of the bank's stock worth $537,494,000 after acquiring an additional 48,507 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of UMB Financial by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 2,021,285 shares of the bank's stock valued at $228,122,000 after purchasing an additional 102,104 shares during the period. Northern Trust Corp boosted its position in shares of UMB Financial by 16.2% in the 4th quarter. Northern Trust Corp now owns 637,072 shares of the bank's stock valued at $71,900,000 after purchasing an additional 88,705 shares during the period. Captrust Financial Advisors boosted its position in shares of UMB Financial by 17.5% in the 4th quarter. Captrust Financial Advisors now owns 461,031 shares of the bank's stock valued at $52,032,000 after purchasing an additional 68,634 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in UMB Financial by 18.7% in the 4th quarter. Nuveen Asset Management LLC now owns 427,586 shares of the bank's stock worth $48,257,000 after purchasing an additional 67,480 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at UMB Financial

In other news, CEO J Mariner Kemper sold 5,412 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $101.81, for a total transaction of $550,995.72. Following the transaction, the chief executive officer now owns 288,945 shares of the company's stock, valued at approximately $29,417,490.45. This represents a 1.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.45% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on UMBF shares. Piper Sandler reissued an "overweight" rating and issued a $137.00 target price (up from $132.00) on shares of UMB Financial in a research report on Friday, May 2nd. Morgan Stanley decreased their target price on UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Bank of America began coverage on UMB Financial in a report on Wednesday, April 16th. They set a "buy" rating and a $105.00 price target on the stock. Wall Street Zen downgraded UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Finally, Royal Bank of Canada decreased their price objective on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, UMB Financial has a consensus rating of "Moderate Buy" and an average target price of $123.13.

UMB Financial Stock Down 1.7%

UMBF traded down $1.74 during trading on Thursday, reaching $103.11. 411,630 shares of the stock traded hands, compared to its average volume of 524,341. The stock's 50-day simple moving average is $98.95 and its two-hundred day simple moving average is $107.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. UMB Financial Co. has a fifty-two week low of $79.25 and a fifty-two week high of $129.94. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 11.47 and a beta of 0.75.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.37. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. The business had revenue of $563.84 million during the quarter, compared to analyst estimates of $555.79 million. During the same period in the previous year, the company earned $2.47 EPS. The firm's revenue was up 41.4% on a year-over-year basis. As a group, equities research analysts expect that UMB Financial Co. will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial's dividend payout ratio is 20.13%.

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.