Canada Pension Plan Investment Board Makes New $1.94 Million Investment in UMB Financial Co. (NASDAQ:UMBF)

Canada Pension Plan Investment Board acquired a new stake in UMB Financial Co. (NASDAQ:UMBF) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 23,300 shares of the bank’s stock, valued at approximately $1,944,000.

Other institutional investors have also made changes to their positions in the company. Assetmark Inc. acquired a new stake in UMB Financial in the 4th quarter valued at $28,000. 1620 Investment Advisors Inc. bought a new position in shares of UMB Financial in the 2nd quarter valued at about $128,000. CWM LLC increased its position in shares of UMB Financial by 7.1% in the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock valued at $162,000 after acquiring an additional 129 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in UMB Financial during the first quarter valued at approximately $252,000. Finally, O Shaughnessy Asset Management LLC boosted its position in UMB Financial by 30.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,451 shares of the bank’s stock valued at $300,000 after purchasing an additional 809 shares during the last quarter. Institutional investors own 87.78% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at UMB Financial

In other UMB Financial news, Director Kris A. Robbins sold 5,000 shares of UMB Financial stock in a transaction dated Friday, September 6th. The shares were 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 owns 3,211 shares in the company, valued at approximately $329,127.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kris A. Robbins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.50, for a total transaction of $512,500.00. Following the transaction, the director now directly owns 3,211 shares of the company’s stock, valued at $329,127.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 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 worth $3,135,439. Corporate insiders own 8.85% of the company’s stock.

UMB Financial Stock Performance

Shares of UMBF stock opened at $104.00 on Friday. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 13.81 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 52 week low of $57.91 and a 52 week high of $109.42. The company has a 50-day simple moving average of $99.85 and a 200 day simple moving average of $88.71.

UMB Financial (NASDAQ:UMBF) last announced 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%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.93 earnings per share. On average, sell-side analysts predict that UMB Financial Co. will post 8.98 earnings per share for the current year.

UMB Financial Dividend Announcement

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