Ameritas Advisory Services LLC Invests $223,000 in UMB Financial Corporation (NASDAQ:UMBF)

Ameritas Advisory Services LLC bought a new stake in UMB Financial Corporation (NASDAQ:UMBF) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,206 shares of the bank’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also made changes to their positions in UMBF. Freestone Grove Partners LP purchased a new stake in shares of UMB Financial in the fourth quarter worth about $48,235,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of UMB Financial by 298.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 301,708 shares of the bank’s stock valued at $34,051,000 after buying an additional 225,908 shares during the period. Point72 Asset Management L.P. lifted its position in UMB Financial by 22,173.3% during the 4th quarter. Point72 Asset Management L.P. now owns 176,627 shares of the bank’s stock worth $19,934,000 after acquiring an additional 175,834 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in UMB Financial by 10.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,912,883 shares of the bank’s stock worth $192,302,000 after acquiring an additional 174,088 shares during the period. Finally, Norges Bank purchased a new position in UMB Financial in the 4th quarter worth approximately $15,835,000. Institutional investors and hedge funds own 87.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on UMBF. Wall Street Zen lowered shares of UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Morgan Stanley lowered their price target on shares of UMB Financial from $156.00 to $146.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Barclays dropped their price target on shares of UMB Financial from $139.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Piper Sandler set a $135.00 price objective on shares of UMB Financial and gave the company an “overweight” rating in a research report on Friday, June 13th. Finally, Royal Bank Of Canada lowered their target price on UMB Financial from $128.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.88.

UMB Financial Trading Up 0.8%

UMBF opened at $110.35 on Friday. UMB Financial Corporation has a 12-month low of $81.01 and a 12-month high of $129.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $8.38 billion, a PE ratio of 13.88, a P/E/G ratio of 1.28 and a beta of 0.74. The firm’s fifty day moving average price is $102.74 and its 200 day moving average price is $105.72.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, topping the consensus estimate of $2.21 by $0.37. The business had revenue of $563.84 million for the quarter, compared to analysts’ expectations of $555.79 million. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The company’s quarterly revenue was up 41.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.47 earnings per share. As a group, research analysts expect that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Tuesday, June 10th. UMB Financial’s dividend payout ratio is presently 20.13%.

Insider Activity at UMB Financial

In other news, CEO J Mariner Kemper sold 5,412 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the sale, the chief executive officer directly owned 288,945 shares in the company, valued at approximately $29,417,490.45. The trade was a 1.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.45% of the company’s stock.

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.