PNC Financial Services Group Inc. Boosts Holdings in UMB Financial Co. (NASDAQ:UMBF)

PNC Financial Services Group Inc. grew its holdings in UMB Financial Co. (NASDAQ:UMBF) by 20.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,366 shares of the bank’s stock after purchasing an additional 1,080 shares during the quarter. PNC Financial Services Group Inc.’s holdings in UMB Financial were worth $532,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in UMB Financial by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,310,807 shares of the bank’s stock valued at $360,168,000 after purchasing an additional 44,150 shares in the last quarter. Comerica Bank lifted its stake in shares of UMB Financial by 1.2% during the fourth quarter. Comerica Bank now owns 18,816 shares of the bank’s stock valued at $1,572,000 after buying an additional 224 shares during the period. Seven Eight Capital LP acquired a new stake in UMB Financial during the fourth quarter worth approximately $1,145,000. Keeley Teton Advisors LLC grew its stake in UMB Financial by 62.5% in the 4th quarter. Keeley Teton Advisors LLC now owns 18,516 shares of the bank’s stock worth $1,547,000 after acquiring an additional 7,120 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in UMB Financial by 23.4% in the 4th quarter. Rafferty Asset Management LLC now owns 70,896 shares of the bank’s stock valued at $5,923,000 after acquiring an additional 13,427 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Stock Up 1.0 %

Shares of NASDAQ:UMBF opened at $82.07 on Friday. UMB Financial Co. has a 1 year low of $57.84 and a 1 year high of $87.36. The stock has a 50-day simple moving average of $82.01 and a 200-day simple moving average of $81.73. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $4.00 billion, a P/E ratio of 10.90 and a beta of 0.81.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Monday, April 29th. The bank reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.62. UMB Financial had a net margin of 14.59% and a return on equity of 14.30%. The company had revenue of $405.19 million during the quarter, compared to the consensus estimate of $369.80 million. Equities analysts forecast that UMB Financial Co. will post 8.41 earnings per share for the current year.

UMB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 10th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.56 annualized dividend and a yield of 1.90%. UMB Financial’s dividend payout ratio is currently 20.72%.

Insider Buying and Selling at UMB Financial

In other news, CEO J Mariner Kemper sold 2,302 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $80.72, for a total value of $185,817.44. Following the completion of the sale, the chief executive officer now owns 1,722,404 shares in the company, valued at $139,032,450.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 17,572 shares of company stock valued at $1,477,281 over the last three months. 8.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on UMBF shares. Wells Fargo & Company raised their price objective on UMB Financial from $88.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Keefe, Bruyette & Woods raised shares of UMB Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $93.00 to $98.00 in a research note on Friday, May 31st. Barclays raised their target price on shares of UMB Financial from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, StockNews.com raised shares of UMB Financial from a “sell” rating to a “hold” rating in a research report on Saturday, March 16th. 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.67.

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.