AQR Capital Management LLC Acquires 102,467 Shares of UMB Financial Co. (NASDAQ:UMBF)

AQR Capital Management LLC grew its holdings in shares of UMB Financial Co. (NASDAQ:UMBF) by 52.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299,270 shares of the bank’s stock after acquiring an additional 102,467 shares during the period. AQR Capital Management LLC’s holdings in UMB Financial were worth $24,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Wedge Capital Management L L P NC purchased a new stake in shares of UMB Financial in the second quarter worth approximately $3,808,000. BNP Paribas Financial Markets boosted its holdings in shares of UMB Financial by 35.0% in the 1st quarter. BNP Paribas Financial Markets now owns 24,511 shares of the bank’s stock valued at $2,132,000 after acquiring an additional 6,351 shares during the last quarter. Vanguard Group Inc. raised its position in shares of UMB Financial by 9.2% in 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. Sei Investments Co. grew its stake in UMB Financial by 9.4% in the 1st quarter. Sei Investments Co. now owns 170,363 shares of the bank’s stock valued at $14,820,000 after acquiring an additional 14,674 shares during the period. Finally, Interval Partners LP acquired a new position in shares of UMB Financial during the 2nd quarter worth about $3,286,000. 87.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on UMBF. Barclays lifted their price target on UMB Financial from $100.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Piper Sandler raised their target price on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company raised their price target on UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Two 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.com, UMB Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.33.

UMB Financial Trading Up 0.1 %

Shares of NASDAQ:UMBF opened at $104.10 on Monday. UMB Financial Co. has a fifty-two week low of $57.91 and a fifty-two week high of $109.42. The company’s 50-day moving average price is $100.04 and its 200 day moving average price is $88.93. 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 company has a market cap of $5.07 billion, a PE ratio of 13.82 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, July 30th. The bank reported $2.16 EPS for the quarter, beating the consensus estimate of $2.01 by $0.15. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. The business had revenue of $390.03 million for the quarter, compared to analysts’ expectations of $384.96 million. During the same period in the previous year, the company posted $1.93 EPS. UMB Financial’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts anticipate that UMB Financial Co. will post 8.98 earnings per share for the current year.

UMB Financial Dividend Announcement

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 given a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.56 dividend on an annualized basis and a yield of 1.50%. UMB Financial’s payout ratio is 20.72%.

Insiders Place Their Bets

In other news, CEO J Mariner Kemper sold 8,100 shares of UMB Financial stock in a transaction that occurred 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 sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kris A. Robbins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.50, for a total transaction of $512,500.00. Following the completion of the sale, the director now owns 3,211 shares of the company’s stock, valued at $329,127.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J Mariner Kemper sold 8,100 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $84.00, for a total transaction of $680,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,673,804 shares in the company, valued at approximately $140,599,536. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,396 shares of company stock worth $2,431,301. Insiders own 8.85% of the company’s stock.

UMB Financial Company Profile

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.