Great Lakes Advisors LLC bought a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor bought 14,426 shares of the bank’s stock, valued at approximately $2,059,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of UMB Financial during the 2nd quarter valued at $1,458,386,000. Hsbc Holdings PLC grew its stake in UMB Financial by 290.2% during the 1st quarter. Hsbc Holdings PLC now owns 13,355 shares of the bank’s stock valued at $1,506,000 after purchasing an additional 9,932 shares during the last quarter. B. Metzler seel. Sohn & Co. AG grew its stake in UMB Financial by 40.8% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 38,261 shares of the bank’s stock valued at $4,402,000 after purchasing an additional 11,083 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of UMB Financial by 1.5% in the fourth quarter. Clearbridge Investments LLC now owns 614,037 shares of the bank’s stock valued at $70,639,000 after purchasing an additional 9,147 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of UMB Financial by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank’s stock worth $328,200,000 after purchasing an additional 55,005 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other UMB Financial news, insider Nikki Farentino Newton sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total value of $297,200.00. Following the completion of the sale, the insider directly owned 11,981 shares of the company’s stock, valued at $1,780,376.60. This trade represents a 14.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Phillip James Mason sold 800 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $147.00, for a total transaction of $117,600.00. Following the completion of the sale, the insider directly owned 8,894 shares of the company’s stock, valued at $1,307,418. This represents a 8.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 34,171 shares of company stock valued at $4,919,826. Insiders own 5.33% of the company’s stock.
UMB Financial Trading Down 0.5%
UMB Financial (NASDAQ:UMBF – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, topping the consensus estimate of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The firm had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $727.63 million. During the same period in the previous year, the business earned $2.96 earnings per share. On average, sell-side analysts anticipate that UMB Financial Corporation will post 13.48 EPS for the current fiscal year.
UMB Financial Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be paid a $0.50 dividend. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. UMB Financial’s dividend payout ratio is 16.65%.
Analysts Set New Price Targets
Several brokerages recently weighed in on UMBF. Morgan Stanley increased their price target on shares of UMB Financial from $143.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Keefe, Bruyette & Woods upped their price objective on shares of UMB Financial from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Citigroup reissued a “neutral” rating and set a $162.00 target price (up from $144.00) on shares of UMB Financial in a report on Friday, July 31st. JPMorgan Chase & Co. started coverage on shares of UMB Financial in a research report on Thursday. They set an “overweight” rating and a $180.00 target price for the company. Finally, Barclays reiterated an “overweight” rating and set a $175.00 price objective (up from $170.00) on shares of UMB Financial in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, UMB Financial currently has an average rating of “Moderate Buy” and an average price target of $165.00.
View Our Latest Stock Report on UMB Financial
UMB Financial 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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