UMB Financial Co. (NASDAQ:UMBF) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. boosted its stake in UMB Financial Co. (NASDAQ:UMBF) by 519.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 41,211 shares of the bank’s stock after buying an additional 34,560 shares during the period. Federated Hermes Inc.’s holdings in UMB Financial were worth $3,438,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new stake in shares of UMB Financial in the 4th quarter valued at about $28,000. 1620 Investment Advisors Inc. bought a new position in UMB Financial during the 2nd quarter worth approximately $128,000. CWM LLC lifted its holdings in 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 buying an additional 129 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of UMB Financial in the 1st quarter worth approximately $252,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of UMB Financial in the 4th quarter valued at approximately $283,000. 87.78% of the stock is currently owned by institutional investors.

UMB Financial Trading Up 3.1 %

Shares of UMBF stock opened at $108.86 on Friday. The firm has a market capitalization of $5.31 billion, a PE ratio of 14.46 and a beta of 0.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.73 and a current ratio of 0.73. UMB Financial Co. has a 1 year low of $57.91 and a 1 year high of $109.42. The stock has a fifty day moving average of $98.74 and a two-hundred day moving average of $87.93.

UMB Financial (NASDAQ:UMBF) last announced 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. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. The firm had revenue of $390.03 million during the quarter, compared to analyst estimates of $384.96 million. During the same quarter in the prior year, the firm posted $1.93 EPS. UMB Financial’s revenue was up 7.2% compared to the same quarter last year. As a group, research analysts expect that UMB Financial Co. will post 8.98 EPS for the current year.

UMB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 dividend yield of 1.43%. The ex-dividend date is Tuesday, September 10th. UMB Financial’s dividend payout ratio is 20.72%.

Insider Activity at UMB Financial

In other UMB Financial news, Director Kris A. Robbins sold 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.50, for a total transaction of $512,500.00. Following the sale, the director now owns 3,211 shares in the company, valued at approximately $329,127.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other UMB Financial news, CEO J Mariner Kemper sold 10,115 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $93.00, for a total transaction of $940,695.00. Following the sale, the chief executive officer now directly owns 257,796 shares of the company’s stock, valued at approximately $23,975,028. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kris A. Robbins sold 5,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the sale, the director now directly owns 3,211 shares of the company’s stock, valued at approximately $329,127.50. The disclosure for this sale can be found here. Insiders sold 34,846 shares of company stock worth $3,135,439 in the last quarter. 8.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on UMBF. Barclays raised their price target on shares of UMB Financial from $100.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Piper Sandler raised their target price on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods raised UMB Financial from a “market perform” rating to an “outperform” rating and upped their target price for the company from $93.00 to $98.00 in a report on Friday, May 31st. Finally, Wells Fargo & Company raised their price target on UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Two 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.33.

About UMB Financial

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.