Vest Financial LLC Raises Stock Position in UMB Financial Corporation $UMBF

Key Points

• Vest Financial LLC increased its stock holdings in UMB Financial Corporation by 165.6% during the second quarter, totaling 20,004 shares valued at approximately $2.1 million.
• UMB Financial reported a quarterly EPS of $2.96, exceeding analysts' expectations, with revenues rising by 76.7% year-over-year to $689.21 million.
• The company declared a quarterly dividend of $0.40, translating to an annual yield of 1.4%, with a payout ratio of 18.39%.

Vest Financial LLC boosted its holdings in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 165.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 20,004 shares of the bank's stock after buying an additional 12,472 shares during the period. Vest Financial LLC's holdings in UMB Financial were worth $2,104,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Truist Financial Corp increased its stake in UMB Financial by 0.5% in the 2nd quarter. Truist Financial Corp now owns 20,426 shares of the bank's stock worth $2,148,000 after buying an additional 97 shares in the last quarter. MAI Capital Management increased its stake in UMB Financial by 14.7% in the 1st quarter. MAI Capital Management now owns 771 shares of the bank's stock worth $78,000 after buying an additional 99 shares in the last quarter. OLD National Bancorp IN increased its stake in UMB Financial by 0.4% in the 2nd quarter. OLD National Bancorp IN now owns 22,834 shares of the bank's stock worth $2,401,000 after buying an additional 100 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of UMB Financial by 4.1% during the 1st quarter. Crossmark Global Holdings Inc. now owns 3,784 shares of the bank's stock valued at $383,000 after purchasing an additional 150 shares during the last quarter. Finally, SummerHaven Investment Management LLC boosted its holdings in shares of UMB Financial by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 9,298 shares of the bank's stock valued at $978,000 after purchasing an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company's stock.

UMB Financial Stock Up 1.9%

Shares of NASDAQ:UMBF opened at $118.42 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $129.94. The company has a 50-day moving average price of $118.83 and a 200 day moving average price of $107.66. The company has a market cap of $8.99 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.19 and a beta of 0.73.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 EPS for the quarter, beating analysts' consensus estimates of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The firm had revenue of $689.21 million during the quarter, compared to the consensus estimate of $638.25 million. During the same quarter last year, the firm earned $2.16 EPS. The firm's revenue for the quarter was up 76.7% compared to the same quarter last year. As a group, equities research analysts predict that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, September 10th. UMB Financial's dividend payout ratio is 18.39%.

Insider Buying and Selling

In related news, insider Stacy H. King sold 1,500 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $118.88, for a total value of $178,320.00. Following the sale, the insider directly owned 9,472 shares of the company's stock, valued at $1,126,031.36. This represents a 13.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Greg M. Graves acquired 234 shares of UMB Financial stock in a transaction that occurred on Tuesday, September 2nd. The stock was purchased at an average cost of $120.44 per share, for a total transaction of $28,182.96. Following the completion of the transaction, the director directly owned 38,034 shares in the company, valued at $4,580,814.96. This trade represents a 0.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 678 shares of company stock worth $75,948 and sold 20,845 shares worth $2,440,666. Company insiders own 5.45% of the company's stock.

Analyst Ratings Changes

UMBF has been the subject of several research reports. Cowen initiated coverage on shares of UMB Financial in a report on Wednesday, September 24th. They set a "buy" rating for the company. Weiss Ratings reissued a "hold (c+)" rating on shares of UMB Financial in a report on Wednesday, October 8th. TD Cowen initiated coverage on shares of UMB Financial in a report on Thursday, September 25th. They set a "buy" rating and a $151.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of UMB Financial from $125.00 to $130.00 and gave the company an "equal weight" rating in a report on Monday, September 29th. Finally, Truist Financial increased their price objective on shares of UMB Financial from $130.00 to $144.00 and gave the company a "buy" rating in a report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, UMB Financial presently has a consensus rating of "Moderate Buy" and an average price target of $138.00.

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.

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