Commonwealth Equity Services LLC Grows Holdings in UMB Financial Co. (NASDAQ:UMBF)

Commonwealth Equity Services LLC boosted its holdings in shares of UMB Financial Co. (NASDAQ:UMBF) by 61.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,659 shares of the bank’s stock after acquiring an additional 2,538 shares during the period. Commonwealth Equity Services LLC’s holdings in UMB Financial were worth $556,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of UMBF. Peregrine Capital Management LLC purchased a new position in shares of UMB Financial during the second quarter valued at approximately $7,308,000. FAS Wealth Partners Inc. raised its stake in UMB Financial by 25.7% during the second quarter. FAS Wealth Partners Inc. now owns 9,241 shares of the bank’s stock valued at $771,000 after buying an additional 1,887 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in UMB Financial by 16.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,455 shares of the bank’s stock worth $872,000 after acquiring an additional 1,476 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of UMB Financial by 2.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,954,762 shares of the bank’s stock worth $163,066,000 after acquiring an additional 49,690 shares during the last quarter. Finally, Ceredex Value Advisors LLC increased its holdings in shares of UMB Financial by 56.9% during the second quarter. Ceredex Value Advisors LLC now owns 140,900 shares of the bank’s stock valued at $11,808,000 after acquiring an additional 51,100 shares in the last quarter. Institutional investors own 87.78% of the company’s stock.

Insiders Place Their Bets

In other news, CEO J Mariner Kemper sold 8,450 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $83.33, for a total transaction of $704,138.50. Following the completion of the sale, the chief executive officer now owns 1,681,904 shares of the company’s stock, valued at approximately $140,153,060.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other UMB Financial news, Director Tamara Peterman purchased 396 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were acquired at an average price of $99.56 per share, for a total transaction of $39,425.76. Following the purchase, the director now directly owns 7,407 shares of the company’s stock, valued at approximately $737,440.92. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO J Mariner Kemper sold 8,450 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $83.33, for a total value of $704,138.50. Following the completion of the sale, the chief executive officer now owns 1,681,904 shares of the company’s stock, valued at $140,153,060.32. The disclosure for this sale can be found here. Over 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 Down 1.9 %

UMBF opened at $106.75 on Friday. UMB Financial Co. has a twelve month low of $57.91 and a twelve month high of $109.42. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average price of $99.08 and a 200-day moving average price of $88.12. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 14.18 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, July 30th. The bank reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.15. The business 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 company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 EPS. Equities research analysts forecast that UMB Financial Co. will post 8.98 earnings per share for the current year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Tuesday, September 10th. UMB Financial’s dividend payout ratio is 20.72%.

Wall Street Analysts Forecast Growth

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