18,000 Shares in UMB Financial Co. (NASDAQ:UMBF) Purchased by Hennessy Advisors Inc.

Hennessy Advisors Inc. purchased a new stake in shares of UMB Financial Co. (NASDAQ:UMBF) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,000 shares of the bank’s stock, valued at approximately $1,502,000.

Several other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of UMB Financial by 15.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,997,303 shares of the bank’s stock valued at $166,875,000 after acquiring an additional 265,399 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in UMB Financial during the second quarter valued at $3,808,000. Massachusetts Financial Services Co. MA grew its stake in shares of UMB Financial by 39.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 428,932 shares of the bank’s stock worth $35,837,000 after buying an additional 121,100 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of UMB Financial by 35.0% in the 1st quarter. BNP Paribas Financial Markets now owns 24,511 shares of the bank’s stock worth $2,132,000 after buying an additional 6,351 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of UMB Financial by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock worth $409,321,000 after buying an additional 394,578 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

UMB Financial Price Performance

UMBF opened at $104.08 on Friday. The business has a fifty day moving average of $90.84 and a 200 day moving average of $84.96. The stock has a market cap of $5.07 billion, a P/E ratio of 13.82 and a beta of 0.80. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.12. UMB Financial Co. has a 52-week low of $57.91 and a 52-week high of $105.21.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, July 30th. The bank reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.15. The firm had revenue of $390.03 million during the quarter, compared to analyst estimates of $384.96 million. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.93 earnings per share. As a group, sell-side analysts anticipate that UMB Financial Co. will post 8.98 EPS for the current year.

UMB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Tuesday, September 10th. UMB Financial’s dividend payout ratio is presently 20.72%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on UMBF shares. Wells Fargo & Company lifted their price target on UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Barclays lifted their target price on UMB Financial from $100.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods upgraded UMB Financial from a “market perform” rating to an “outperform” rating and increased their price target for the company from $93.00 to $98.00 in a report on Friday, May 31st. Finally, Piper Sandler lifted their price objective on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.33.

Insider Activity at UMB Financial

In other UMB Financial news, EVP Amy Harris sold 736 shares of UMB Financial stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $95.05, for a total transaction of $69,956.80. Following the completion of the sale, the executive vice president now directly owns 2,899 shares of the company’s stock, valued at approximately $275,549.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other UMB Financial news, EVP Amy Harris sold 736 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $95.05, for a total transaction of $69,956.80. Following the transaction, the executive vice president now owns 2,899 shares of the company’s stock, valued at approximately $275,549.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tamara Peterman purchased 396 shares of the stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $99.56 per share, with a total value of $39,425.76. Following the transaction, the director now directly owns 7,407 shares in the company, valued at approximately $737,440.92. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 31,846 shares of company stock worth $2,785,719. Company insiders own 8.85% of the company’s stock.

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.