Commonwealth Equity Services LLC Acquires 2,538 Shares of UMB Financial Co. (NASDAQ:UMBF)

Commonwealth Equity Services LLC increased its stake in UMB Financial Co. (NASDAQ:UMBF) by 61.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,659 shares of the bank’s stock after purchasing an additional 2,538 shares during the period. Commonwealth Equity Services LLC’s holdings in UMB Financial were worth $556,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of UMBF. Assetmark Inc. purchased a new stake in shares of UMB Financial during the 4th quarter valued at $28,000. 1620 Investment Advisors Inc. purchased a new stake in UMB Financial during the second quarter valued at about $128,000. CWM LLC raised its position in UMB Financial by 7.1% during the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock valued at $162,000 after purchasing an additional 129 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in UMB Financial during the first quarter worth about $252,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of UMB Financial in the 4th quarter worth about $283,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Stock Performance

NASDAQ:UMBF opened at $106.75 on Friday. 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 fifty-two week low of $57.91 and a fifty-two week high of $109.42. The business has a 50 day moving average price of $99.08 and a 200-day moving average price of $88.12. The firm has a market cap of $5.20 billion, a PE ratio of 14.18 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, July 30th. The bank reported $2.16 earnings per share 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 during the quarter, compared to analysts’ expectations of $384.96 million. During the same quarter in the prior year, the company posted $1.93 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research 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. Investors of record on Tuesday, September 10th will be paid a $0.39 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $1.56 annualized dividend and a dividend yield of 1.46%. UMB Financial’s payout ratio is presently 20.72%.

Insider Buying and Selling at UMB Financial

In other news, Director Kris A. Robbins sold 5,000 shares of the business’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 transaction, the director now directly 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 through this link. In related news, Director Tamara Peterman acquired 396 shares of the stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $99.56 per share, for a total transaction of $39,425.76. Following the completion of the acquisition, the director now directly owns 7,407 shares of the company’s stock, valued at approximately $737,440.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kris A. Robbins sold 5,000 shares of the company’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 value of $512,500.00. Following the transaction, the director now owns 3,211 shares in the company, valued at approximately $329,127.50. The disclosure for this sale can be found here. Insiders sold 34,846 shares of company stock valued at $3,135,439 in the last 90 days. Insiders own 8.85% of the company’s stock.

Analysts Set New Price Targets

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

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.