2,800 Shares in UMB Financial Corporation $UMBF Purchased by RMG Wealth Management LLC

RMG Wealth Management LLC purchased a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,800 shares of the bank’s stock, valued at approximately $306,000.

Several other large investors also recently bought and sold shares of the company. Brooklyn Investment Group raised its holdings in shares of UMB Financial by 4,840.0% during the first quarter. Brooklyn Investment Group now owns 247 shares of the bank’s stock valued at $25,000 after acquiring an additional 242 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in UMB Financial in the 1st quarter valued at $27,000. McIlrath & Eck LLC purchased a new position in UMB Financial in the 1st quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in UMB Financial during the 1st quarter worth $35,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of UMB Financial by 143.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank’s stock valued at $37,000 after buying an additional 213 shares during the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UMBF has been the subject of several research reports. Piper Sandler upped their price objective on shares of UMB Financial from $135.00 to $148.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Truist Financial upped their price target on UMB Financial from $130.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of UMB Financial in a research report on Saturday, September 27th. Barclays upped their target price on UMB Financial from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company lifted their price target on UMB Financial from $125.00 to $130.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, UMB Financial has an average rating of “Moderate Buy” and a consensus price target of $136.90.

UMB Financial Stock Performance

Shares of UMB Financial stock opened at $119.99 on Tuesday. The firm has a market cap of $9.11 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.35 and a beta of 0.73. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. UMB Financial Corporation has a 52 week low of $82.00 and a 52 week high of $129.94. The business’s fifty day simple moving average is $117.96 and its 200-day simple moving average is $106.91.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.61. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The firm had revenue of $689.21 million during the quarter, compared to the consensus estimate of $638.25 million. During the same period last year, the company earned $2.16 EPS. The company’s quarterly revenue was up 76.7% on a year-over-year basis. Equities analysts forecast that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, September 10th. UMB Financial’s payout ratio is 18.39%.

Insider Transactions at UMB Financial

In other news, insider Stacy H. King sold 1,500 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $118.88, for a total transaction of $178,320.00. Following the completion of the transaction, the insider directly owned 9,472 shares in the company, valued at $1,126,031.36. This trade represents a 13.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shannon Andresen Johnson sold 1,367 shares of UMB Financial stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $120.58, for a total value of $164,832.86. Following the completion of the sale, the insider directly owned 34,124 shares of the company’s stock, valued at $4,114,671.92. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 678 shares of company stock worth $75,948 and sold 20,845 shares worth $2,440,666. 5.45% of the stock is owned by insiders.

UMB Financial Company 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.