Oppenheimer Asset Management Inc. Decreases Stake in UMB Financial Corporation $UMBF

Oppenheimer Asset Management Inc. lowered its position in UMB Financial Corporation (NASDAQ:UMBF) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 42,694 shares of the bank’s stock after selling 478 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in UMB Financial were worth $4,490,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in UMBF. Vanguard Group Inc. increased its holdings in UMB Financial by 54.0% in the 1st quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank’s stock worth $741,342,000 after acquiring an additional 2,570,283 shares during the last quarter. Earnest Partners LLC purchased a new stake in UMB Financial in the 1st quarter worth about $144,351,000. Dimensional Fund Advisors LP increased its holdings in UMB Financial by 78.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank’s stock worth $273,029,000 after acquiring an additional 1,185,671 shares during the last quarter. Nuveen LLC purchased a new stake in UMB Financial in the 1st quarter worth about $51,324,000. Finally, Wellington Management Group LLP increased its holdings in UMB Financial by 19.1% in the 1st quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank’s stock worth $243,359,000 after acquiring an additional 385,830 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

Analysts Set New Price Targets

UMBF has been the subject of several recent research reports. Truist Financial lifted their price objective on UMB Financial from $130.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Morgan Stanley raised their target price on UMB Financial from $120.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Barclays set a $155.00 target price on UMB Financial and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Cowen began coverage on UMB Financial in a research note on Wednesday, September 24th. They issued a “buy” rating for the company. Finally, Hovde Group began coverage on UMB Financial in a research note on Monday, October 6th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.00.

Insider Activity

In related news, insider Phillip James Mason sold 750 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $120.97, for a total value of $90,727.50. Following the completion of the sale, the insider owned 8,815 shares in the company, valued at $1,066,350.55. The trade was a 7.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stacy H. King sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $118.88, for a total value of $178,320.00. Following the completion of the sale, the insider owned 9,472 shares of the company’s stock, valued at $1,126,031.36. The trade was a 13.67% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have purchased 678 shares of company stock worth $75,948 and have sold 20,845 shares worth $2,440,666. Insiders own 5.45% of the company’s stock.

UMB Financial Stock Performance

Shares of UMBF opened at $112.29 on Wednesday. The company has a market cap of $8.53 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.15 and a beta of 0.73. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $118.51 and a 200-day moving average price of $109.38. UMB Financial Corporation has a 12-month low of $82.00 and a 12-month high of $129.94.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, October 28th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.22. The firm had revenue of $678.34 million during the quarter, compared to the consensus estimate of $661.60 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The company’s revenue for the quarter was up 67.0% on a year-over-year basis. During the same quarter last year, the company posted $2.25 EPS. As a group, equities analysts forecast that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

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.