UMB Financial Co. (NASDAQ:UMBF) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 17.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,494 shares of the bank’s stock after selling 12,951 shares during the quarter. Envestnet Asset Management Inc.’s holdings in UMB Financial were worth $5,046,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of UMBF. Vanguard Group Inc. boosted its position in 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 last quarter. American Century Companies Inc. boosted its position in UMB Financial by 6.8% during the second quarter. American Century Companies Inc. now owns 1,752,524 shares of the bank’s stock worth $146,196,000 after acquiring an additional 111,090 shares during the last quarter. Peregrine Capital Management LLC acquired a new stake in UMB Financial during the second quarter worth approximately $7,308,000. Allspring Global Investments Holdings LLC boosted its position in UMB Financial by 3.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,905,072 shares of the bank’s stock worth $165,722,000 after acquiring an additional 63,022 shares during the last quarter. Finally, Ceredex Value Advisors LLC boosted its position in UMB Financial by 56.9% during the second quarter. Ceredex Value Advisors LLC now owns 140,900 shares of the bank’s stock worth $11,808,000 after acquiring an additional 51,100 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

Insider Activity

In other news, CEO J Mariner Kemper sold 8,100 shares of the firm’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 transaction, the chief executive officer now owns 1,673,804 shares of the company’s stock, valued at approximately $140,599,536. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Kris A. Robbins sold 5,000 shares of UMB Financial stock in a transaction 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 sale, the director now owns 3,211 shares of the company’s stock, valued at approximately $329,127.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Mariner Kemper sold 8,100 shares of UMB Financial stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $84.00, for a total transaction of $680,400.00. Following the sale, 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. In the last 90 days, insiders have sold 26,396 shares of company stock valued at $2,431,301. Company insiders own 8.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on UMBF shares. Piper Sandler lifted their price target on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Barclays lifted their price target 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, Wells Fargo & Company lifted their price target 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 equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, UMB Financial has an average rating of “Moderate Buy” and an average target price of $102.33.

UMB Financial Stock Performance

Shares of UMBF stock opened at $105.11 on Tuesday. The company’s fifty day simple moving average is $100.04 and its 200-day simple moving average is $88.99. UMB Financial Co. has a 52 week low of $57.91 and a 52 week 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 company has a market cap of $5.12 billion, a PE ratio of 13.96 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, July 30th. The bank reported $2.16 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $384.96 million. During the same quarter last year, the firm posted $1.93 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities research analysts anticipate that UMB Financial Co. will post 8.98 EPS 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 paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Tuesday, September 10th. UMB Financial’s dividend payout ratio is presently 20.72%.

UMB Financial 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.