King Luther Capital Management Corp Makes New $1.19 Million Investment in UMB Financial Co. (NASDAQ:UMBF)

King Luther Capital Management Corp bought a new stake in shares of UMB Financial Co. (NASDAQ:UMBF) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,296 shares of the bank’s stock, valued at approximately $1,193,000.

Several other large investors have also recently made changes to their positions in UMBF. Assetmark Inc. purchased a new position in UMB Financial in the fourth quarter valued at $28,000. 1620 Investment Advisors Inc. purchased a new position in shares of UMB Financial in the 2nd quarter valued at about $128,000. CWM LLC raised its holdings in UMB Financial by 7.1% in the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after purchasing an additional 129 shares during the period. Janney Montgomery Scott LLC purchased a new position in UMB Financial during the first quarter worth approximately $252,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in UMB Financial in the fourth quarter valued at approximately $283,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on UMBF. Piper Sandler upped their target price on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” 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 increased their price objective for the company from $93.00 to $98.00 in a report on Friday, May 31st. Barclays boosted their target price 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. Finally, Wells Fargo & Company raised their price target on shares of UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $102.33.

UMB Financial Stock Performance

UMBF opened at $106.75 on Monday. The firm has a market capitalization of $5.20 billion, a PE ratio of 14.18 and a beta of 0.78. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.12. UMB Financial Co. has a twelve month low of $57.91 and a twelve month high of $109.42. The firm’s 50-day moving average price is $99.08 and its 200 day moving average price is $88.18.

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

UMB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.39 per share. 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 dividend payout ratio is presently 20.72%.

Insider Activity

In related news, CEO J Mariner Kemper sold 8,450 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $83.33, for a total transaction of $704,138.50. Following the completion of the sale, the chief executive officer now directly owns 1,681,904 shares in the company, valued at $140,153,060.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO J Mariner Kemper sold 8,450 shares of the 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 approximately $140,153,060.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tamara Peterman purchased 396 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were purchased at an average price of $99.56 per share, with a total value of $39,425.76. Following the acquisition, the director now directly owns 7,407 shares in the company, valued at $737,440.92. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 34,846 shares of company stock valued at $3,135,439. 8.85% of the stock is currently owned by insiders.

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.