Voya Investment Management LLC Raises Position in UMB Financial Corporation $UMBF

Key Points

• Voya Investment Management LLC increased its stake in UMB Financial Corporation by 40.7%, acquiring 18,670 additional shares and bringing its total holdings to 64,510 shares valued at approximately $6.52 million.
• In the first quarter, numerous institutional investors significantly boosted their positions in UMB Financial, with 87.78% of the stock now owned by institutional holders.
• UMB Financial recently reported strong quarterly earnings, with $2.96 EPS surpassing analysts' expectations and a revenue increase of 76.7% from the previous year.

Voya Investment Management LLC increased its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 40.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,510 shares of the bank's stock after acquiring an additional 18,670 shares during the period. Voya Investment Management LLC owned about 0.08% of UMB Financial worth $6,522,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of UMB Financial by 21.1% in the 1st quarter. Bank of New York Mellon Corp now owns 546,483 shares of the bank's stock valued at $55,249,000 after buying an additional 95,339 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of UMB Financial by 27.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 2,367 shares of the bank's stock valued at $239,000 after purchasing an additional 509 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of UMB Financial by 96.3% during the 1st quarter. Teacher Retirement System of Texas now owns 15,723 shares of the bank's stock valued at $1,590,000 after purchasing an additional 7,715 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of UMB Financial by 2.8% during the 1st quarter. New York State Teachers Retirement System now owns 60,376 shares of the bank's stock valued at $6,104,000 after purchasing an additional 1,664 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in shares of UMB Financial during the 1st quarter valued at about $237,000. Institutional investors own 87.78% of the company's stock.

UMB Financial Stock Performance

Shares of UMBF stock traded up $3.64 during trading on Thursday, hitting $124.18. The company's stock had a trading volume of 481,725 shares, compared to its average volume of 467,709. The company has a market cap of $9.43 billion, a PE ratio of 14.27, a P/E/G ratio of 1.38 and a beta of 0.77. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $115.40 and a 200-day moving average of $105.40. UMB Financial Corporation has a 52 week low of $82.00 and a 52 week high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.61. The company had revenue of $689.21 million during the quarter, compared to analyst estimates of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.UMB Financial's quarterly revenue was up 76.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.16 earnings per share. As a group, research analysts anticipate 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 will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 10th. UMB Financial's dividend payout ratio is 18.39%.

Insider Buying and Selling at UMB Financial

In other news, insider Robert Brian Beaird sold 1,205 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $116.17, for a total value of $139,984.85. Following the completion of the transaction, the insider directly owned 10,147 shares of the company's stock, valued at $1,178,776.99. This trade represents a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shannon Andresen Johnson sold 1,367 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $120.58, for a total value of $164,832.86. Following the completion of the transaction, the insider directly owned 34,124 shares of the company's stock, valued at $4,114,671.92. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 678 shares of company stock valued at $75,948 and sold 20,845 shares valued at $2,440,666. 5.45% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

UMB Financial Company 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.