BlackRock Inc. Acquires New Holdings in UMB Financial Corporation $UMBF

BlackRock Inc. bought a new position in shares of UMB Financial Corporation (NASDAQ:UMBF) in the second quarter, HoldingsChannel reports. The firm bought 10,215,651 shares of the bank’s stock, valued at approximately $1,458,386,000. BlackRock Inc. owned 0.13% of UMB Financial at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. lifted its position in shares of UMB Financial by 636.7% in the second quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock worth $156,543,000 after purchasing an additional 1,286,543 shares in the last quarter. Wellington Management Group LLP increased its stake in UMB Financial by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock valued at $366,743,000 after buying an additional 751,525 shares during the last quarter. Norges Bank bought a new stake in UMB Financial during the 4th quarter worth about $85,885,000. Bank of New York Mellon Corp bought a new stake in UMB Financial during the 2nd quarter worth about $78,410,000. Finally, UMB Bank n.a. boosted its stake in shares of UMB Financial by 11.4% during the 4th quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank’s stock worth $553,322,000 after buying an additional 493,875 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at UMB Financial

In related news, CEO J Mariner Kemper sold 15,062 shares of UMB Financial stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $148.55, for a total transaction of $2,237,460.10. Following the completion of the transaction, the chief executive officer owned 1,491,138 shares in the company, valued at approximately $221,508,549.90. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President James D. Rine sold 8,246 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $132.59, for a total value of $1,093,337.14. Following the transaction, the president directly owned 61,446 shares in the company, valued at approximately $8,147,125.14. This trade represents a 11.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 34,171 shares of company stock valued at $4,919,826 in the last three months. Corporate insiders own 5.33% of the company’s stock.

UMB Financial Stock Performance

NASDAQ UMBF traded down $0.85 on Friday, hitting $145.01. 100,099 shares of the stock were exchanged, compared to its average volume of 624,063. The company has a market capitalization of $11.01 billion, a PE ratio of 12.07, a P/E/G ratio of 0.72 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76. The business’s fifty day moving average is $143.63 and its 200 day moving average is $130.28. UMB Financial Corporation has a 52 week low of $103.38 and a 52 week high of $153.32.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.12 by $0.45. The company had revenue of $778.00 million during the quarter, compared to the consensus estimate of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same quarter last year, the firm posted $2.96 EPS. Research analysts anticipate that UMB Financial Corporation will post 13.48 EPS for the current fiscal year.

UMB Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be paid a $0.50 dividend. This is an increase from UMB Financial’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, September 10th. This represents a $2.00 annualized dividend and a yield of 1.4%. UMB Financial’s dividend payout ratio (DPR) is 14.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on UMBF shares. Keefe, Bruyette & Woods raised their price objective on UMB Financial from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Hovde Group upped their target price on UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Piper Sandler reissued an “overweight” rating and set a $181.00 price target (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. Weiss Ratings restated a “buy (b)” rating on shares of UMB Financial in a research note on Friday, July 24th. Finally, Citigroup restated a “neutral” rating and issued a $162.00 price target (up from $144.00) on shares of UMB Financial in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $165.00.

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.