Comerica Bank grew its holdings in UMB Financial Corp (NASDAQ:UMBF) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,249 shares of the bank’s stock after purchasing an additional 1,861 shares during the period. Comerica Bank’s holdings in UMB Financial were worth $2,374,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in shares of UMB Financial by 0.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 31,702 shares of the bank’s stock valued at $2,087,000 after purchasing an additional 189 shares during the period. Sterling Capital Management LLC grew its stake in shares of UMB Financial by 2.4% in the 2nd quarter. Sterling Capital Management LLC now owns 9,200 shares of the bank’s stock valued at $606,000 after buying an additional 212 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of UMB Financial by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,100 shares of the bank’s stock valued at $1,191,000 after buying an additional 252 shares in the last quarter. Profund Advisors LLC grew its stake in shares of UMB Financial by 4.9% in the 2nd quarter. Profund Advisors LLC now owns 5,873 shares of the bank’s stock valued at $387,000 after buying an additional 273 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of UMB Financial by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 32,051 shares of the bank’s stock valued at $2,110,000 after buying an additional 350 shares in the last quarter. Institutional investors own 85.75% of the company’s stock.
Several equities research analysts recently commented on the company. ValuEngine cut UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Zacks Investment Research cut UMB Financial from a “hold” rating to a “sell” rating and set a $71.00 price target for the company. in a research note on Sunday, November 3rd. Stephens reissued a “buy” rating and issued a $75.00 price target on shares of UMB Financial in a research note on Monday, September 16th. Finally, BidaskClub raised UMB Financial from a “hold” rating to a “buy” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $72.33.
UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, October 29th. The bank reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.10. The firm had revenue of $271.90 million during the quarter, compared to analysts’ expectations of $276.93 million. UMB Financial had a return on equity of 8.55% and a net margin of 16.06%. During the same quarter in the prior year, the business earned $1.16 earnings per share. Sell-side analysts anticipate that UMB Financial Corp will post 4.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, December 9th. This represents a $1.24 dividend on an annualized basis and a yield of 1.88%. This is a boost from UMB Financial’s previous quarterly dividend of $0.30. UMB Financial’s dividend payout ratio is presently 29.78%.
In other UMB Financial news, Director Kris A. Robbins sold 800 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $62.57, for a total transaction of $50,056.00. Following the completion of the sale, the director now owns 4,796 shares of the company’s stock, valued at $300,085.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Mariner Kemper sold 6,600 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $66.95, for a total value of $441,870.00. The disclosure for this sale can be found here. Insiders have sold 13,172 shares of company stock valued at $872,516 in the last ninety days. Company insiders own 10.45% of the company’s stock.
UMB Financial Profile
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. It operates through four segments: Commercial Banking, Institutional Banking, Personal Banking, and Healthcare Services. The Commercial Banking segment provides commercial loans, commercial credit cards, letters of credit, loan syndication services, consultative services, and various financial options; capital markets services, including asset-based financing, asset securitization, equity and mezzanine financing, factoring, and private and public placement of senior debt, as well as merger and acquisition consulting; and depository, account reconciliation, electronic fund transfer, controlled disbursements, lockbox, and remote deposit capture services.
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