Wealthquest Corp Takes $393,000 Position in UMB Financial Corporation (NASDAQ:UMBF)

Key Points

• Wealthquest Corp acquired 3,526 shares of UMB Financial Corporation during the first quarter, valuing the stake at approximately $393,000.
• UMB Financial reported a strong quarterly performance with an EPS of $2.96, surpassing estimates, and year-over-year revenue growth of 76.7%.
• The company announced a quarterly dividend of $0.40 per share, resulting in an annualized dividend yield of 1.5%.

Wealthquest Corp bought a new stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,526 shares of the bank's stock, valued at approximately $393,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in UMBF. SummerHaven Investment Management LLC increased its stake in shares of UMB Financial by 1.4% in the first quarter. SummerHaven Investment Management LLC now owns 9,145 shares of the bank's stock worth $925,000 after purchasing an additional 122 shares in the last quarter. Covestor Ltd boosted its holdings in shares of UMB Financial by 28.8% during the 4th quarter. Covestor Ltd now owns 555 shares of the bank's stock valued at $63,000 after purchasing an additional 124 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of UMB Financial by 5.8% in the fourth quarter. EP Wealth Advisors LLC now owns 2,361 shares of the bank's stock worth $266,000 after purchasing an additional 130 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of UMB Financial by 4.1% in the first quarter. Crossmark Global Holdings Inc. now owns 3,784 shares of the bank's stock worth $383,000 after buying an additional 150 shares in the last quarter. Finally, Heritage Family Offices LLP boosted its stake in UMB Financial by 7.6% during the first quarter. Heritage Family Offices LLP now owns 2,215 shares of the bank's stock valued at $224,000 after buying an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler increased 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. Raymond James Financial lifted their price objective on shares of UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a research note on Thursday. Barclays reissued an "overweight" rating and issued a $150.00 price objective (up from $140.00) on shares of UMB Financial in a research note on Thursday. Royal Bank Of Canada lifted their price objective on shares of UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a research note on Thursday. Finally, Truist Financial lifted their price objective on shares of UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.11.

Insiders Place Their Bets

In other UMB Financial 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 value of $550,995.72. Following the completion of the sale, the chief executive officer directly owned 288,945 shares in the company, valued at approximately $29,417,490.45. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.45% of the stock is currently owned by company insiders.

UMB Financial Stock Down 1.5%

Shares of UMBF traded down $1.60 during mid-day trading on Friday, hitting $108.39. The company's stock had a trading volume of 855,112 shares, compared to its average volume of 547,012. The company's 50-day moving average is $104.71 and its 200-day moving average is $104.15. UMB Financial Corporation has a 52-week low of $82.00 and a 52-week high of $129.94. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.44 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.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $638.25 million. During the same quarter in the prior year, the company earned $2.16 EPS. The company's revenue was up 76.7% compared to the same quarter last year. On average, equities research analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. UMB Financial's dividend payout ratio (DPR) is presently 18.39%.

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.