Massachusetts Financial Services Co. MA Boosts Holdings in UMB Financial Co. (NASDAQ:UMBF)

Massachusetts Financial Services Co. MA increased its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 21.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 517,622 shares of the bank’s stock after purchasing an additional 90,297 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in UMB Financial were worth $43,180,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new stake in UMB Financial during the fourth quarter worth $28,000. 1620 Investment Advisors Inc. purchased a new position in shares of UMB Financial during the 2nd quarter worth $128,000. CWM LLC increased its position in shares of UMB Financial by 7.1% during the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after purchasing an additional 129 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in UMB Financial in the 1st quarter valued at about $252,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in UMB Financial in the fourth quarter valued at about $283,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at UMB Financial

In other news, Director Tamara Peterman bought 396 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average price of $99.56 per share, for a total transaction of $39,425.76. Following the completion of the purchase, the director now owns 7,407 shares in the company, valued at approximately $737,440.92. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Kris A. Robbins sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.50, for a total transaction of $512,500.00. Following the completion of the sale, the director now owns 3,211 shares in the company, valued at approximately $329,127.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tamara Peterman bought 396 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average cost of $99.56 per share, for a total transaction of $39,425.76. Following the completion of the transaction, the director now directly owns 7,407 shares in the company, valued at $737,440.92. The disclosure for this purchase can be found here. In the last three months, insiders have sold 34,846 shares of company stock valued at $3,135,439. Insiders own 8.85% of the company’s stock.

UMB Financial Stock Up 3.1 %

UMB Financial stock opened at $108.86 on Friday. The firm has a market capitalization of $5.31 billion, a P/E ratio of 14.46 and a beta of 0.78. The stock’s fifty day simple moving average is $98.74 and its 200-day simple moving average is $87.93. UMB Financial Co. has a twelve month low of $57.91 and a twelve month high of $109.42. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.12.

UMB Financial (NASDAQ:UMBF) last posted its quarterly 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. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. The company had revenue of $390.03 million for the quarter, compared to analyst estimates of $384.96 million. During the same quarter last year, the company earned $1.93 EPS. UMB Financial’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities analysts expect that UMB Financial Co. will post 8.98 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.43%. The ex-dividend date is Tuesday, September 10th. UMB Financial’s dividend payout ratio (DPR) is presently 20.72%.

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.