UMB Financial Corporation $UMBF Shares Newly Acquired by Summit Global Investments

Summit Global Investments acquired a new position in UMB Financial Corporation (NASDAQ:UMBF) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,858 shares of the bank’s stock, valued at approximately $632,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in UMB Financial by 68.8% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 8,100 shares of the bank’s stock worth $1,053,000 after buying an additional 3,300 shares during the period. Moody Aldrich Partners LLC increased its position in shares of UMB Financial by 211.4% in the third quarter. Moody Aldrich Partners LLC now owns 72,559 shares of the bank’s stock worth $9,433,000 after acquiring an additional 49,261 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of UMB Financial by 9.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 4,211 shares of the bank’s stock valued at $547,000 after acquiring an additional 373 shares during the period. Park Avenue Securities LLC raised its stake in shares of UMB Financial by 15.2% in the 3rd quarter. Park Avenue Securities LLC now owns 4,756 shares of the bank’s stock valued at $618,000 after acquiring an additional 627 shares during the period. Finally, WESPAC Advisors LLC lifted its holdings in shares of UMB Financial by 143.3% during the 3rd quarter. WESPAC Advisors LLC now owns 5,076 shares of the bank’s stock valued at $660,000 after acquiring an additional 2,990 shares in the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Susan Murphy sold 1,377 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $145.55, for a total transaction of $200,422.35. Following the completion of the sale, the director directly owned 10,635 shares in the company, valued at $1,547,924.25. This trade represents a 11.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tamara Peterman bought 394 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were acquired at an average cost of $139.60 per share, for a total transaction of $55,002.40. Following the completion of the transaction, the director owned 10,680 shares of the company’s stock, valued at approximately $1,490,928. The trade was a 3.83% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 1,892 shares of company stock valued at $271,664 over the last ninety days. Insiders own 5.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group initiated coverage on shares of UMB Financial in a research report on Monday, September 14th. They set a “neutral” rating and a $155.00 price target for the company. TD Cowen raised their price objective on UMB Financial from $152.00 to $154.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on UMB Financial from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, October 1st. Truist Financial reduced their price objective on UMB Financial from $170.00 to $156.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. Finally, Raymond James Financial assumed coverage on UMB Financial in a research report on Thursday, August 27th. They issued an “outperform” rating and a $165.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, UMB Financial currently has an average rating of “Moderate Buy” and a consensus price target of $160.93.

UMB Financial Trading Up 2.2%

NASDAQ UMBF opened at $137.46 on Tuesday. The company’s fifty day simple moving average is $135.56 and its 200-day simple moving average is $131.30. UMB Financial Corporation has a 52 week low of $68.92 and a 52 week high of $144.36. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. The stock has a market cap of $10.44 billion, a P/E ratio of 9.72, a PEG ratio of 0.62 and a beta of 0.82.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, October 27th. The bank reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.34. UMB Financial had a net margin of 23.45% and a return on equity of 14.07%. The business had revenue of $772.39 million during the quarter, compared to analyst estimates of $744.81 million. During the same period last year, the business earned $2.70 EPS. The business’s revenue was up 13.9% on a year-over-year basis. Equities research analysts predict that UMB Financial Corporation will post 13.79 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Thursday, December 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, December 10th. UMB Financial’s dividend payout ratio is presently 15.14%.

About UMB Financial

UMB Financial Corporation is a financial holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to individuals, businesses, institutions and government entities. The company serves customers through banking offices and digital channels across the Midwest and other U.S. markets.

UMB Bank offers commercial and personal banking products, including deposit accounts, loans, treasury management, payment services and credit solutions.