Northern Trust Corp Has $71.90 Million Stock Holdings in UMB Financial Co. (NASDAQ:UMBF)

Northern Trust Corp raised its stake in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 16.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 637,072 shares of the bank's stock after purchasing an additional 88,705 shares during the period. Northern Trust Corp owned 1.31% of UMB Financial worth $71,900,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of UMBF. USA Financial Formulas increased its position in shares of UMB Financial by 124.7% in the 4th quarter. USA Financial Formulas now owns 483 shares of the bank's stock worth $55,000 after purchasing an additional 268 shares during the last quarter. Covestor Ltd boosted its holdings in shares of UMB Financial by 28.8% in the 4th quarter. Covestor Ltd now owns 555 shares of the bank's stock valued at $63,000 after buying an additional 124 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of UMB Financial in the 4th quarter valued at about $96,000. Steward Partners Investment Advisory LLC acquired a new position in shares of UMB Financial in the 4th quarter valued at about $103,000. Finally, R Squared Ltd acquired a new position in shares of UMB Financial in the 4th quarter valued at about $117,000. Institutional investors own 87.78% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Bank of America assumed coverage on shares of UMB Financial in a report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price target for the company. Piper Sandler reaffirmed an "overweight" rating and issued a $137.00 price target (up from $132.00) on shares of UMB Financial in a report on Friday, May 2nd. Barclays decreased their price target on shares of UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Morgan Stanley decreased their target price on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Wells Fargo & Company upped their target price on shares of UMB Financial from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, UMB Financial presently has an average rating of "Hold" and an average price target of $120.38.

UMB Financial Trading Down 0.5%

Shares of UMBF stock traded down $0.54 during trading hours on Friday, reaching $103.02. 414,277 shares of the stock traded hands, compared to its average volume of 519,480. UMB Financial Co. has a 1-year low of $78.56 and a 1-year high of $129.94. The business has a fifty day moving average price of $97.21 and a 200 day moving average price of $109.95. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $7.82 billion, a PE ratio of 11.46 and a beta of 0.72.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.37. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. The business had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. During the same quarter in the previous year, the business earned $2.47 earnings per share. The firm's revenue was up 41.4% compared to the same quarter last year. On average, equities research analysts forecast that UMB Financial Co. will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.55%. UMB Financial's dividend payout ratio is currently 20.13%.

Insider Activity

In other news, CEO J Mariner Kemper sold 3,500 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $108.61, for a total transaction of $380,135.00. Following the sale, the chief executive officer now owns 334,347 shares in the company, valued at $36,313,427.67. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.45% of the stock is owned by company insiders.

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.