3,526 Shares in UMB Financial Corporation (NASDAQ:UMBF) Acquired by Wealthquest Corp

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 position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 3,526 shares of the bank's stock, valued at approximately $393,000.

Several other hedge funds have also made changes to their positions in the company. HighTower Advisors LLC acquired a new position in shares of UMB Financial in the fourth quarter valued at about $201,000. LPL Financial LLC increased its holdings in shares of UMB Financial by 171.6% in the fourth quarter. LPL Financial LLC now owns 20,329 shares of the bank's stock valued at $2,294,000 after purchasing an additional 12,845 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of UMB Financial by 31.0% in the fourth quarter. JPMorgan Chase & Co. now owns 415,607 shares of the bank's stock valued at $46,905,000 after purchasing an additional 98,427 shares during the period. Norges Bank acquired a new position in shares of UMB Financial in the fourth quarter valued at about $15,835,000. Finally, Pictet Asset Management Holding SA grew its holdings in UMB Financial by 25.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,791 shares of the bank's stock worth $766,000 after acquiring an additional 1,369 shares during the period. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO J Mariner Kemper sold 5,412 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total transaction of $550,995.72. Following the completion of the transaction, the chief executive officer directly owned 288,945 shares in the company, valued at approximately $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.45% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on UMBF. Barclays reaffirmed an "overweight" rating and set a $150.00 target price (up from $140.00) on shares of UMB Financial in a report on Thursday, July 31st. Wells Fargo & Company raised their target price on UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday. Wall Street Zen downgraded UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Raymond James Financial raised their target price on UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 31st. Finally, Truist Financial increased their price target on UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $132.11.

UMB Financial Trading Up 0.1%

Shares of UMBF traded up $0.12 during trading hours on Tuesday, hitting $110.67. The stock had a trading volume of 766,634 shares, compared to its average volume of 669,924. UMB Financial Corporation has a 12-month low of $82.00 and a 12-month high of $129.94. The company's fifty day simple moving average is $104.71 and its 200 day simple moving average is $104.03. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $8.40 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.27 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%. The business had revenue of $689.21 million for the quarter, compared to analyst estimates of $638.25 million. During the same period in the previous year, the company earned $2.16 earnings per share. The company's revenue for the quarter was up 76.7% compared to the same quarter last year. 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 dividend of $0.40 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. UMB Financial's payout ratio is currently 18.39%.

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.