Ieq Capital LLC acquired a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 3,974 shares of the bank’s stock, valued at approximately $567,000.
Other hedge funds also recently made changes to their positions in the company. First National Bank of Omaha acquired a new position in shares of UMB Financial during the 2nd quarter worth $1,053,000. BlackRock Inc. acquired a new stake in UMB Financial in the second quarter valued at about $1,458,386,000. NFJ Investment Group LLC acquired a new stake in UMB Financial in the second quarter valued at about $47,026,000. Ceredex Value Advisors LLC bought a new position in UMB Financial in the second quarter valued at about $14,112,000. Finally, Hsbc Holdings PLC raised its stake in UMB Financial by 290.2% during the first quarter. Hsbc Holdings PLC now owns 13,355 shares of the bank’s stock worth $1,506,000 after acquiring an additional 9,932 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms have recently weighed in on UMBF. Keefe, Bruyette & Woods raised their price target on shares of UMB Financial from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Barclays reissued an “overweight” rating and issued a $175.00 price objective (up from $170.00) on shares of UMB Financial in a research note on Monday, August 3rd. Truist Financial set a $170.00 target price on shares of UMB Financial and gave the company a “buy” rating in a research report on Tuesday, August 4th. Wells Fargo & Company set a $160.00 target price on shares of UMB Financial and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Finally, TD Cowen reiterated a “buy” rating and set a $166.00 price target (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.54.
Insider Activity
In other news, insider Nikki Farentino Newton sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total transaction of $297,200.00. Following the completion of the transaction, the insider directly owned 11,981 shares in the company, valued at $1,780,376.60. This trade represents a 14.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J Mariner Kemper sold 15,062 shares of UMB Financial stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $148.55, for a total value of $2,237,460.10. Following the completion of the transaction, the chief executive officer directly owned 1,491,138 shares in the company, valued at approximately $221,508,549.90. This represents a 1.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 34,171 shares of company stock worth $4,919,826. 5.33% of the stock is owned by corporate insiders.
UMB Financial Trading Up 0.0%
Shares of NASDAQ UMBF opened at $144.59 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. UMB Financial Corporation has a 52-week low of $103.38 and a 52-week high of $153.32. The firm has a 50 day moving average price of $144.86 and a two-hundred day moving average price of $130.85. The stock has a market cap of $10.98 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.71 and a beta of 0.77.
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 analysts’ consensus estimates of $3.12 by $0.45. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. The company had revenue of $778.00 million for the quarter, compared to analyst estimates of $727.63 million. During the same quarter in the previous year, the business earned $2.96 earnings per share. As a group, equities analysts forecast that UMB Financial Corporation will post 13.48 EPS for the current year.
UMB Financial Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $2.00 annualized dividend and a yield of 1.4%. This is an increase from UMB Financial’s previous quarterly dividend of $0.43. UMB Financial’s dividend payout ratio is 14.32%.
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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