Franklin Resources Inc. Acquires 18,963 Shares of UMB Financial Corporation $UMBF

Franklin Resources Inc. lifted its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF) by 6.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 336,068 shares of the bank’s stock after acquiring an additional 18,963 shares during the period. Franklin Resources Inc. owned approximately 0.44% of UMB Financial worth $35,341,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Truist Financial Corp raised its position in UMB Financial by 0.5% in the second quarter. Truist Financial Corp now owns 20,426 shares of the bank’s stock worth $2,148,000 after purchasing an additional 97 shares in the last quarter. MAI Capital Management grew its stake in shares of UMB Financial by 14.7% in the 1st quarter. MAI Capital Management now owns 771 shares of the bank’s stock valued at $78,000 after purchasing an additional 99 shares during the period. OLD National Bancorp IN raised its holdings in shares of UMB Financial by 0.4% in the 2nd quarter. OLD National Bancorp IN now owns 22,834 shares of the bank’s stock worth $2,401,000 after buying an additional 100 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in shares of UMB Financial by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 9,298 shares of the bank’s stock worth $978,000 after buying an additional 153 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in UMB Financial by 3.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,931 shares of the bank’s stock valued at $624,000 after buying an additional 170 shares in the last quarter. Institutional investors own 87.78% of the company’s stock.

UMB Financial Stock Down 0.2%

Shares of NASDAQ:UMBF opened at $112.02 on Thursday. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $128.80. The company’s 50-day moving average price is $112.87 and its two-hundred day moving average price is $110.70. The company has a quick ratio of 0.77, a current ratio of 0.75 and a debt-to-equity ratio of 0.07. The firm has a market cap of $8.51 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.11 and a beta of 0.80.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, October 28th. The bank reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.22. UMB Financial had a net margin of 16.01% and a return on equity of 12.15%. The company had revenue of $678.34 million during the quarter, compared to the consensus estimate of $661.60 million. During the same period in the previous year, the firm posted $2.25 earnings per share. The company’s revenue was up 67.0% on a year-over-year basis. As a group, research analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Wednesday, December 10th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $1.72 annualized dividend and a yield of 1.5%. This is a positive change from UMB Financial’s previous quarterly dividend of $0.40. UMB Financial’s dividend payout ratio (DPR) is currently 19.48%.

Insider Transactions at UMB Financial

In other news, Director Kevin Charles Gallagher sold 460 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $110.71, for a total transaction of $50,926.60. Following the transaction, the director owned 12,090 shares of the company’s stock, valued at $1,338,483.90. This represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nikki Farentino Newton sold 1,300 shares of UMB Financial stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $106.09, for a total value of $137,917.00. Following the completion of the sale, the insider owned 13,667 shares of the company’s stock, valued at approximately $1,449,932.03. The trade was a 8.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have bought 683 shares of company stock valued at $75,961 and have sold 3,127 shares valued at $353,676. Insiders own 5.45% of the company’s stock.

Analysts Set New Price Targets

UMBF has been the subject of several recent analyst reports. Royal Bank Of Canada upgraded UMB Financial from a “sector perform” rating to an “outperform” rating and set a $128.00 price objective for the company in a research note on Thursday, November 6th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $135.00 target price (down previously from $138.00) on shares of UMB Financial in a report on Thursday, October 30th. TD Cowen cut their price target on shares of UMB Financial from $151.00 to $149.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of UMB Financial in a research note on Tuesday. Finally, Morgan Stanley raised their price objective on shares of UMB Financial from $120.00 to $154.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, UMB Financial has an average rating of “Moderate Buy” and a consensus price target of $137.20.

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.