Y Intercept Hong Kong Ltd Takes $1.90 Million Position in UMB Financial Corporation $UMBF

Key Points

• Y Intercept Hong Kong Ltd opened a new position in UMB Financial during the first quarter, buying 16,857 shares worth about $1.9 million.
• Several analysts raised their price targets on UMBF, with the consensus view at “Moderate Buy” and an average target price of $148.91.
• UMB Financial reported stronger-than-expected quarterly results, posting $3.41 EPS on revenue of $739.16 million, while also declaring a quarterly dividend of $0.43 per share.

Y Intercept Hong Kong Ltd acquired a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 16,857 shares of the bank's stock, valued at approximately $1,901,000.

Other institutional investors also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV boosted its position in UMB Financial by 4.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,563 shares of the bank's stock valued at $295,000 after acquiring an additional 102 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of UMB Financial by 3.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,910 shares of the bank's stock worth $335,000 after acquiring an additional 108 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of UMB Financial by 1.8% during the 4th quarter. Concurrent Investment Advisors LLC now owns 6,424 shares of the bank's stock worth $739,000 after purchasing an additional 112 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of UMB Financial by 0.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 16,560 shares of the bank's stock worth $1,960,000 after purchasing an additional 129 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in UMB Financial by 3.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,908 shares of the bank's stock valued at $450,000 after purchasing an additional 129 shares in the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, Director Kevin Charles Gallagher sold 381 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total transaction of $50,627.28. Following the sale, the director directly owned 12,223 shares of the company's stock, valued at approximately $1,624,192.24. This trade represents a 3.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President James D. Rine sold 8,246 shares of UMB Financial stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total value of $1,093,337.14. Following the transaction, the president owned 61,446 shares of the company's stock, valued at $8,147,125.14. The trade was a 11.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on UMBF. Citigroup lifted their target price on UMB Financial from $138.00 to $144.00 and gave the company a "neutral" rating in a research note on Thursday, June 25th. Morgan Stanley increased their price target on shares of UMB Financial from $143.00 to $159.00 and gave the company an "overweight" rating in a research report on Monday, June 29th. Piper Sandler raised their price target on shares of UMB Financial from $155.00 to $161.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Weiss Ratings raised shares of UMB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, April 27th. Finally, Truist Financial set a $140.00 price objective on shares of UMB Financial in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, UMB Financial presently has an average rating of "Moderate Buy" and a consensus price target of $148.91.

UMB Financial Stock Performance

UMBF opened at $143.71 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. UMB Financial Corporation has a 12-month low of $103.38 and a 12-month high of $146.90. The firm has a 50 day moving average of $133.84 and a two-hundred day moving average of $125.02. The firm has a market capitalization of $10.92 billion, a PE ratio of 12.75, a P/E/G ratio of 0.78 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 EPS for the quarter, beating the consensus estimate of $2.82 by $0.59. The business had revenue of $739.16 million for the quarter, compared to the consensus estimate of $701.79 million. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. The business's revenue for the quarter was up 31.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.58 EPS. On average, analysts anticipate that UMB Financial Corporation will post 12.85 EPS for the current year.

UMB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, June 10th. UMB Financial's dividend payout ratio is presently 15.26%.

UMB Financial Company Profile

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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