SummerHaven Investment Management LLC Acquires New Shares in UMB Financial Corporation $UMBF

SummerHaven Investment Management LLC acquired a new position in UMB Financial Corporation (NASDAQ:UMBF) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,023 shares of the bank’s stock, valued at approximately $1,173,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of UMB Financial during the 2nd quarter valued at $1,458,386,000. Dimensional Fund Advisors LP increased its holdings in UMB Financial by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank’s stock valued at $328,200,000 after purchasing an additional 55,005 shares in the last quarter. Bank of America Corp DE acquired a new stake in UMB Financial in the 2nd quarter valued at $129,153,000. First Trust Advisors LP increased its holdings in UMB Financial by 12.0% in the 1st quarter. First Trust Advisors LP now owns 899,400 shares of the bank’s stock valued at $101,443,000 after purchasing an additional 96,149 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in UMB Financial in the second quarter valued at about $78,410,000. Hedge funds and other institutional investors own 87.78% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on UMBF shares. Piper Sandler restated an “overweight” rating and set a $181.00 price objective (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Citigroup reaffirmed a “neutral” rating and issued a $162.00 target price (up from $144.00) on shares of UMB Financial in a research report on Friday, July 31st. Stephens began coverage on UMB Financial in a research note on Tuesday, July 14th. They issued an “overweight” rating and a $167.00 target price for the company. TD Cowen dropped their target price on UMB Financial from $166.00 to $152.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Finally, JPMorgan Chase & Co. dropped their target price on UMB Financial from $180.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, UMB Financial presently has a consensus rating of “Moderate Buy” and an average target price of $163.86.

Insider Buying and Selling

In related news, insider Phillip Mason sold 800 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $147.00, for a total transaction of $117,600.00. Following the sale, the insider directly owned 8,894 shares of the company’s stock, valued at approximately $1,307,418. This represents a 8.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Susan G. Murphy sold 1,377 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $145.55, for a total value of $200,422.35. Following the transaction, the director owned 10,635 shares in the company, valued at $1,547,924.25. This trade represents a 11.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 25,544 shares of company stock worth $3,775,862. 5.33% of the stock is currently owned by insiders.

UMB Financial Stock Down 0.5%

NASDAQ:UMBF opened at $131.10 on Friday. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 0.61 and a beta of 0.82. UMB Financial Corporation has a one year low of $68.92 and a one year high of $144.36. The stock has a 50-day simple moving average of $138.62 and a 200 day simple moving average of $134.90. 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 (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, beating 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 analyst estimates of $727.63 million. During the same period in the previous year, the company earned $2.96 earnings per share. Sell-side analysts predict that UMB Financial Corporation will post 13.53 EPS for the current fiscal year.

UMB Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Thursday, September 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. UMB Financial’s payout ratio is 16.65%.

UMB Financial Company Profile

UMB Financial Corporation is a financial services holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to businesses, institutions, governments and individuals. The company traces its history to 1913 and has developed a regional banking franchise with additional capabilities serving customers nationwide.

UMB’s business activities include commercial and personal banking, treasury management, lending, deposit services and payment solutions.