Wellington Management Group LLP Has $243.36 Million Stock Position in UMB Financial Corporation $UMBF

Key Points

• Wellington Management Group LLP increased its stake in UMB Financial Corporation by 19.1%, owning 2,407,115 shares worth $243,359,000 as of the latest SEC filing.
• Several institutional investors, including Vanguard Group and Dimensional Fund Advisors, significantly raised their positions in UMB Financial during the 1st quarter of this year.
• UMB Financial announced a quarterly dividend of $0.40 per share, with an annualized yield of 1.4%, to be paid on October 1st.

Wellington Management Group LLP lifted its stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 19.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,407,115 shares of the bank's stock after purchasing an additional 385,830 shares during the quarter. Wellington Management Group LLP owned about 3.17% of UMB Financial worth $243,359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Northern Trust Corp raised its stake in shares of UMB Financial by 43.9% during the first quarter. Northern Trust Corp now owns 916,964 shares of the bank's stock valued at $92,705,000 after purchasing an additional 279,892 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of UMB Financial by 4,840.0% during the first quarter. Brooklyn Investment Group now owns 247 shares of the bank's stock valued at $25,000 after purchasing an additional 242 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of UMB Financial by 66.4% during the first quarter. Raymond James Financial Inc. now owns 167,395 shares of the bank's stock valued at $16,924,000 after purchasing an additional 66,770 shares in the last quarter. American Century Companies Inc. raised its stake in shares of UMB Financial by 7.7% in the 1st quarter. American Century Companies Inc. now owns 2,054,007 shares of the bank's stock worth $207,660,000 after buying an additional 146,585 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of UMB Financial by 78.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank's stock worth $273,029,000 after buying an additional 1,185,671 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

UMBF has been the topic of a number of research reports. Raymond James Financial boosted their price objective 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. Truist Financial boosted their price objective on UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Piper Sandler boosted their price objective on UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Royal Bank Of Canada boosted their price objective on UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Finally, Barclays boosted their price objective on UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $132.11.

Insiders Place Their Bets

In other news, insider Stacy H. King sold 1,500 shares of UMB Financial stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $118.88, for a total transaction of $178,320.00. Following the transaction, the insider owned 9,472 shares in the company, valued at approximately $1,126,031.36. The trade was a 13.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO J Mariner Kemper sold 15,523 shares of UMB Financial stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $116.33, for a total value of $1,805,790.59. Following the sale, the chief executive officer directly owned 1,536,781 shares of the company's stock, valued at approximately $178,773,733.73. The trade was a 1.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,640 shares of company stock worth $2,675,091. 5.45% of the stock is owned by corporate insiders.

UMB Financial Price Performance

Shares of NASDAQ UMBF traded up $6.40 during mid-day trading on Friday, reaching $121.59. The company had a trading volume of 836,030 shares, compared to its average volume of 635,146. 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 stock has a market cap of $9.23 billion, a PE ratio of 13.98, a P/E/G ratio of 1.31 and a beta of 0.77. The company has a 50-day moving average price of $108.05 and a two-hundred day moving average price of $103.75. UMB Financial Corporation has a 1-year low of $82.00 and a 1-year high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued 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. The business had revenue of $689.21 million for the quarter, compared to analysts' expectations of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The company's quarterly revenue was up 76.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.16 EPS. On average, equities analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. UMB Financial's payout ratio is currently 18.39%.

UMB Financial 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.