Northern Trust Corp Acquires 88,705 Shares of UMB Financial Co. (NASDAQ:UMBF)

Northern Trust Corp grew its stake in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 16.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 637,072 shares of the bank's stock after purchasing an additional 88,705 shares during the period. Northern Trust Corp owned approximately 1.31% of UMB Financial worth $71,900,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of UMBF. Truist Financial Corp grew its position in UMB Financial by 0.4% in the fourth quarter. Truist Financial Corp now owns 19,565 shares of the bank's stock valued at $2,208,000 after acquiring an additional 83 shares during the period. Covestor Ltd boosted its stake 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 purchasing an additional 124 shares in the last quarter. Heritage Family Offices LLP grew its holdings in shares of UMB Financial by 6.5% in the 4th quarter. Heritage Family Offices LLP now owns 2,059 shares of the bank's stock worth $232,000 after purchasing an additional 125 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of UMB Financial by 5.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 3,634 shares of the bank's stock worth $410,000 after purchasing an additional 186 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in UMB Financial by 4.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,010 shares of the bank's stock valued at $678,000 after purchasing an additional 232 shares during the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on UMBF shares. Wells Fargo & Company raised their price objective on shares of UMB Financial from $105.00 to $110.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. StockNews.com downgraded UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday. Citigroup restated a "neutral" rating and set a $127.00 target price (down previously from $130.00) on shares of UMB Financial in a report on Monday, February 3rd. Piper Sandler reiterated an "overweight" rating and set a $137.00 price target (up previously from $132.00) on shares of UMB Financial in a research report on Friday. Finally, Bank of America began coverage on shares of UMB Financial in a report on Wednesday, April 16th. They set a "buy" rating and a $105.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $120.38.

UMB Financial Stock Performance

Shares of NASDAQ:UMBF opened at $101.00 on Tuesday. The stock has a market capitalization of $7.67 billion, a P/E ratio of 11.23 and a beta of 0.71. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11. UMB Financial Co. has a 1-year low of $78.56 and a 1-year high of $129.94. The business has a 50-day moving average price of $97.68 and a two-hundred day moving average price of $110.07.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the business posted $2.47 earnings per share. UMB Financial's revenue was up 41.4% compared to the same quarter last year. Equities analysts predict that UMB Financial Co. will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.58%. UMB Financial's dividend payout ratio is currently 20.13%.

Insider Buying and Selling

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

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.

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