Algert Global LLC Boosts Holdings in UMB Financial Co. (NASDAQ:UMBF)

Algert Global LLC lifted its holdings in UMB Financial Co. (NASDAQ:UMBF) by 8.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,718 shares of the bank’s stock after purchasing an additional 4,663 shares during the period. Algert Global LLC owned approximately 0.12% of UMB Financial worth $4,815,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of UMB Financial by 9.2% during the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock worth $409,321,000 after acquiring an additional 394,578 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in UMB Financial by 2.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,954,762 shares of the bank’s stock worth $163,066,000 after purchasing an additional 49,690 shares during the period. American Century Companies Inc. raised its position in UMB Financial by 6.8% in the 2nd quarter. American Century Companies Inc. now owns 1,752,524 shares of the bank’s stock valued at $146,196,000 after purchasing an additional 111,090 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of UMB Financial by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,689,895 shares of the bank’s stock valued at $140,968,000 after buying an additional 100,000 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of UMB Financial by 102.7% during the second quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock worth $62,780,000 after buying an additional 381,278 shares in the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on UMBF shares. Wells Fargo & Company lifted their price target on shares of UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. 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 report on Thursday, August 1st. Finally, Barclays increased their target price on UMB Financial from $100.00 to $114.00 and gave the company an “overweight” 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.33.

UMB Financial Trading Up 0.1 %

Shares of UMB Financial stock opened at $104.10 on Monday. The company has a fifty day simple moving average of $100.04 and a 200-day simple moving average of $88.93. UMB Financial Co. has a 12-month low of $57.91 and a 12-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. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 13.82 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, July 30th. The bank reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 posted $1.93 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that UMB Financial Co. will post 8.98 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Tuesday, September 10th. UMB Financial’s dividend payout ratio is currently 20.72%.

Insider Transactions at UMB Financial

In related news, CEO J Mariner Kemper sold 8,100 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $84.00, for a total value of $680,400.00. Following the completion of the sale, the chief executive officer now owns 1,673,804 shares in the company, valued at approximately $140,599,536. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other UMB Financial news, CEO J Mariner Kemper sold 8,100 shares of UMB Financial stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $84.00, for a total value of $680,400.00. Following the transaction, the chief executive officer now directly owns 1,673,804 shares in the company, valued at $140,599,536. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tamara Peterman bought 396 shares of UMB Financial 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 completion of the acquisition, the director now directly owns 7,407 shares of the company’s stock, valued at approximately $737,440.92. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 26,396 shares of company stock worth $2,431,301. Insiders own 8.85% of the company’s stock.

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.