Intech Investment Management LLC Takes Position in UMB Financial Co. (NASDAQ:UMBF)

Intech Investment Management LLC bought a new stake in shares of UMB Financial Co. (NASDAQ:UMBF) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 9,804 shares of the bank’s stock, valued at approximately $818,000.

Several other institutional investors have also bought and sold shares of UMBF. CWM LLC boosted 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 acquiring an additional 129 shares during the last quarter. Retirement Systems of Alabama lifted its position in shares of UMB Financial by 0.3% during the first quarter. Retirement Systems of Alabama now owns 54,848 shares of the bank’s stock valued at $4,771,000 after purchasing an additional 144 shares in the last quarter. US Bancorp DE boosted its holdings in UMB Financial by 1.4% during the fourth quarter. US Bancorp DE now owns 12,358 shares of the bank’s stock worth $1,033,000 after purchasing an additional 169 shares during the last quarter. Great Lakes Advisors LLC grew its position in UMB Financial by 0.4% in the 2nd quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank’s stock worth $4,913,000 after purchasing an additional 210 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in UMB Financial by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 12,962 shares of the bank’s stock valued at $1,081,000 after buying an additional 291 shares during the last quarter. Institutional investors own 87.78% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other UMB Financial news, insider Robert Brian Beaird sold 698 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $93.19, for a total transaction of $65,046.62. Following the sale, the insider now owns 6,682 shares in the company, valued at $622,695.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO J Mariner Kemper sold 8,450 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 1,681,904 shares of the company’s stock, valued at $140,153,060.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert Brian Beaird sold 698 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $93.19, for a total transaction of $65,046.62. Following the completion of the transaction, the insider now directly owns 6,682 shares of the company’s stock, valued at $622,695.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,846 shares of company stock valued at $3,135,439. Company insiders own 8.85% of the company’s stock.

UMB Financial Stock Performance

NASDAQ:UMBF opened at $103.62 on Thursday. The company has a market capitalization of $5.05 billion, a P/E ratio of 13.76 and a beta of 0.78. The business has a fifty day simple moving average of $99.66 and a two-hundred day simple moving average of $88.60. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.73 and a quick ratio of 0.73. UMB Financial Co. has a 1 year low of $57.91 and a 1 year high of $109.42.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, July 30th. The bank reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.15. The company had revenue of $390.03 million during 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%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.93 EPS. On average, analysts expect that UMB Financial Co. will post 8.98 earnings per share for the current year.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Tuesday, September 10th. UMB Financial’s payout ratio is currently 20.72%.

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.