Comerica Bank Boosts Position in UMB Financial Co. (NASDAQ:UMBF)

Comerica Bank grew its holdings in UMB Financial Co. (NASDAQ:UMBF) by 13.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,754 shares of the bank’s stock after acquiring an additional 4,201 shares during the period. Comerica Bank owned about 0.07% of UMB Financial worth $3,922,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Barclays PLC boosted its holdings in UMB Financial by 278.8% in the third quarter. Barclays PLC now owns 231,482 shares of the bank’s stock valued at $24,329,000 after purchasing an additional 170,375 shares during the last quarter. Principal Financial Group Inc. grew its holdings in UMB Financial by 403.7% during the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock worth $91,114,000 after acquiring an additional 694,751 shares during the period. Ellenbecker Investment Group purchased a new position in UMB Financial during the fourth quarter valued at approximately $212,000. Assenagon Asset Management S.A. acquired a new position in UMB Financial in the fourth quarter valued at approximately $1,443,000. Finally, Park Avenue Securities LLC purchased a new stake in UMB Financial in the 4th quarter worth approximately $284,000. Institutional investors and hedge funds own 87.78% of the company’s stock.

UMB Financial Stock Down 0.9 %

Shares of UMBF opened at $100.09 on Wednesday. The stock has a 50 day moving average price of $97.51 and a 200 day moving average price of $110.00. The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of 11.13 and a beta of 0.72. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75. UMB Financial Co. has a one year low of $78.56 and a one year high of $129.94.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, beating the consensus estimate of $2.21 by $0.37. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. The firm had revenue of $563.84 million during the quarter, compared to analysts’ expectations of $555.79 million. During the same quarter last year, the firm earned $2.47 earnings per share. The business’s revenue for the quarter was up 41.4% on a year-over-year basis. Equities research analysts forecast that UMB Financial Co. will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial’s payout ratio is presently 20.13%.

Insider Buying and Selling

In other news, CEO J Mariner Kemper sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $108.61, for a total value of $380,135.00. Following the transaction, the chief executive officer now directly owns 334,347 shares in the company, valued at approximately $36,313,427.67. This represents a 1.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.45% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on UMBF. Piper Sandler reaffirmed an “overweight” rating and set a $137.00 target price (up from $132.00) on shares of UMB Financial in a report on Friday, May 2nd. StockNews.com lowered shares of UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Bank of America initiated coverage on UMB Financial in a research note on Wednesday, April 16th. They issued a “buy” rating and a $105.00 price target for the company. Barclays reduced their price target on UMB Financial from $139.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Royal Bank of Canada cut their price objective on UMB Financial from $128.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, UMB Financial currently has an average rating of “Hold” and an average target price of $120.38.

UMB Financial Profile

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.