Virtus Advisers LLC Buys New Stake in UMB Financial Corporation $UMBF

Key Points

• Virtus Advisers bought 10,149 shares of UMB Financial worth approximately $1.45 million, while other institutions also established new positions. Institutional investors now own 87.78% of the company.
• UMB Financial reported quarterly EPS of $3.57, exceeding the $3.12 consensus estimate, and revenue of $778 million above expectations. The company also raised its quarterly dividend to $0.50 per share, a 16% increase from $0.43.
• Analyst sentiment is favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $165, compared with a recent price of $145.02. However, insiders sold 34,171 shares worth roughly $4.92 million over the past three months.

Virtus Advisers LLC purchased a new position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,149 shares of the bank's stock, valued at approximately $1,449,000. UMB Financial comprises approximately 0.6% of Virtus Advisers LLC's holdings, making the stock its 29th biggest position.

A number of other institutional investors also recently bought and sold shares of the stock. Ceredex Value Advisors LLC bought a new stake in UMB Financial in the second quarter worth $14,112,000. PCM Encore LLC bought a new stake in shares of UMB Financial during the second quarter worth $351,000. Vise Technologies Inc. bought a new stake in shares of UMB Financial during the second quarter worth $324,000. West Family Investments Inc. bought a new stake in shares of UMB Financial during the second quarter worth $271,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of UMB Financial during the second quarter worth $2,059,000. 87.78% of the stock is currently owned by institutional investors.

Insider Activity

In other UMB Financial news, insider Phillip James Mason sold 800 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $147.00, for a total value of $117,600.00. Following the completion of the sale, the insider directly owned 8,894 shares in the company, valued at $1,307,418. This represents a 8.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan G. Murphy sold 1,377 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $145.55, for a total value of $200,422.35. Following the completion of the sale, the director owned 10,635 shares of the company's stock, valued at approximately $1,547,924.25. The trade was a 11.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 34,171 shares of company stock valued at $4,919,826 in the last three months. Company insiders own 5.33% of the company's stock.

UMB Financial Price Performance

Shares of UMBF stock traded down $0.84 during trading hours on Friday, hitting $145.02. 114,305 shares of the company's stock were exchanged, compared to its average volume of 624,207. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm has a market cap of $11.01 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.72 and a beta of 0.77. The firm has a 50 day moving average of $143.63 and a two-hundred day moving average of $130.28. UMB Financial Corporation has a fifty-two week low of $103.38 and a fifty-two week high of $153.32.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, topping the consensus estimate of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The firm had revenue of $778.00 million during the quarter, compared to analysts' expectations of $727.63 million. During the same period in the previous year, the business earned $2.96 earnings per share. Sell-side analysts forecast that UMB Financial Corporation will post 13.48 EPS for the current year.

UMB Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, September 10th. This is a positive change from UMB Financial's previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. UMB Financial's dividend payout ratio (DPR) is presently 14.32%.

Analysts Set New Price Targets

Several analysts recently weighed in on UMBF shares. JPMorgan Chase & Co. started coverage on UMB Financial in a report on Thursday. They issued an "overweight" rating and a $180.00 price objective for the company. Stephens started coverage on UMB Financial in a research note on Tuesday, July 14th. They issued an "overweight" rating and a $167.00 target price on the stock. Citigroup reiterated a "neutral" rating and issued a $162.00 target price (up from $144.00) on shares of UMB Financial in a research note on Friday, July 31st. Keefe, Bruyette & Woods lifted their target price on UMB Financial from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $170.00 target price (up from $168.00) on shares of UMB Financial in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $165.00.

About UMB Financial

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.

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