Insider Buying: UMB Financial (NASDAQ:UMBF) Director Purchases $79,990.80 in Stock

UMB Financial Corporation (NASDAQ:UMBF) Director Greg Graves purchased 573 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were purchased at an average price of $139.60 per share, with a total value of $79,990.80. Following the acquisition, the director directly owned 40,463 shares in the company, valued at approximately $5,648,634.80. The trade was a 1.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

UMB Financial Trading Up 1.1%

Shares of UMBF stock traded up $1.53 during trading on Thursday, hitting $143.44. 402,110 shares of the stock traded hands, compared to its average volume of 920,251. UMB Financial Corporation has a 52-week low of $68.92 and a 52-week high of $144.21. The firm has a market capitalization of $10.89 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 0.68 and a beta of 0.77. The firm’s fifty day moving average price is $144.93 and its 200-day moving average price is $131.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.45. The company had revenue of $778.00 million during the quarter, compared to analyst estimates of $727.63 million. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.During the same period in the prior year, the business posted $2.96 earnings per share. As a group, research analysts forecast that UMB Financial Corporation will post 13.5 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from UMB Financial’s previous quarterly dividend of $0.43. UMB Financial’s dividend payout ratio (DPR) is currently 16.65%.

Hedge Funds Weigh In On UMB Financial

Several institutional investors have recently bought and sold shares of the company. Corient Private Wealth LP acquired a new stake in shares of UMB Financial during the second quarter worth about $221,000. Amundi boosted its stake in shares of UMB Financial by 14.7% in the second quarter. Amundi now owns 4,620 shares of the bank’s stock valued at $660,000 after purchasing an additional 593 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of UMB Financial in the second quarter valued at approximately $685,000. California State Teachers Retirement System grew its holdings in shares of UMB Financial by 13,612.7% in the second quarter. California State Teachers Retirement System now owns 11,954,437 shares of the bank’s stock valued at $1,706,615,000 after purchasing an additional 11,867,259 shares in the last quarter. Finally, HB Wealth Management LLC purchased a new stake in UMB Financial during the 2nd quarter worth approximately $248,000. 87.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup restated a “neutral” rating and issued a $162.00 price objective (up from $144.00) on shares of UMB Financial in a report on Friday, July 31st. JPMorgan Chase & Co. began coverage on shares of UMB Financial in a research report on Thursday, August 20th. They set an “overweight” rating and a $180.00 price target for the company. Raymond James Financial started coverage on shares of UMB Financial in a research note on Thursday, August 27th. They issued an “outperform” rating and a $165.00 price target on the stock. Truist Financial set a $170.00 price objective on shares of UMB Financial and gave the stock a “buy” rating in a report on Tuesday, August 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $181.00 price objective (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.54.

About UMB Financial

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.