Financial Counselors Inc. Has $3.91 Million Stock Position in UMB Financial Co. (NASDAQ:UMBF)

Financial Counselors Inc. raised its holdings in UMB Financial Co. (NASDAQ:UMBF) by 28.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,822 shares of the bank’s stock after purchasing an additional 10,333 shares during the quarter. Financial Counselors Inc. owned 0.10% of UMB Financial worth $3,906,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Assetmark Inc. acquired a new position in UMB Financial during the fourth quarter worth about $28,000. 1620 Investment Advisors Inc. bought a new position in shares of UMB Financial in the 2nd quarter valued at $128,000. CWM LLC increased its holdings in UMB Financial by 7.1% in the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after purchasing an additional 129 shares in the last quarter. Quadrant Capital Group LLC raised its position in UMB Financial by 42.6% in the fourth quarter. Quadrant Capital Group LLC now owns 2,743 shares of the bank’s stock valued at $229,000 after purchasing an additional 819 shares during the last quarter. Finally, ETF Store Inc. bought a new stake in shares of UMB Financial during the fourth quarter worth about $251,000. Institutional investors own 87.78% of the company’s stock.

UMB Financial Stock Up 0.7 %

Shares of NASDAQ UMBF opened at $103.59 on Tuesday. 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 market cap of $5.05 billion, a PE ratio of 13.76 and a beta of 0.78. The company’s fifty day simple moving average is $93.49 and its 200 day simple moving average is $85.97. UMB Financial Co. has a 12-month low of $57.91 and a 12-month high of $105.72.

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

UMB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 1.51%. The ex-dividend date of this dividend is Tuesday, September 10th. UMB Financial’s dividend payout ratio (DPR) is presently 20.72%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other UMB Financial news, Director Tamara Peterman bought 396 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were purchased 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 $737,440.92. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other UMB Financial news, EVP John Pauls sold 1,623 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $92.97, for a total transaction of $150,890.31. Following the sale, the executive vice president now owns 7,332 shares in the company, valued at $681,656.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tamara Peterman purchased 396 shares of UMB Financial stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $99.56 per share, with a total value of $39,425.76. Following the completion of the transaction, the director now owns 7,407 shares of the company’s stock, valued at approximately $737,440.92. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 29,846 shares of company stock valued at $2,622,939. Corporate 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.