Renaissance Technologies LLC Has $14.33 Million Stake in UMB Financial Co. (NASDAQ:UMBF)

Renaissance Technologies LLC lifted its stake in shares of UMB Financial Co. (NASDAQ:UMBF) by 113.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 171,800 shares of the bank’s stock after acquiring an additional 91,500 shares during the period. Renaissance Technologies LLC owned 0.35% of UMB Financial worth $14,332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Personalized Indexing Management LLC bought a new position in shares of UMB Financial during the 4th quarter worth about $283,000. Norges Bank bought a new position in UMB Financial in the fourth quarter worth approximately $39,376,000. PNC Financial Services Group Inc. grew its stake in UMB Financial by 20.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,366 shares of the bank’s stock valued at $532,000 after acquiring an additional 1,080 shares during the period. Assetmark Inc. acquired a new stake in UMB Financial in the fourth quarter valued at approximately $28,000. Finally, US Bancorp DE increased its holdings in shares of UMB Financial by 1.4% during the fourth quarter. US Bancorp DE now owns 12,358 shares of the bank’s stock valued at $1,033,000 after acquiring an additional 169 shares in the last quarter. 87.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In other UMB Financial news, CEO J Mariner Kemper sold 8,450 shares of UMB Financial stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $83.33, for a total value of $704,138.50. Following the sale, the chief executive officer now owns 1,681,904 shares of the company’s stock, valued at $140,153,060.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other UMB Financial news, CEO J Mariner Kemper sold 8,450 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was 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 directly owns 1,681,904 shares of the company’s stock, valued at $140,153,060.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kris A. Robbins sold 5,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the sale, the director now owns 3,211 shares in the company, valued at $329,127.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,846 shares of company stock valued at $3,135,439. 8.85% of the stock is owned by insiders.

UMB Financial Trading Down 1.9 %

Shares of UMBF stock opened at $106.75 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 14.18 and a beta of 0.78. UMB Financial Co. has a 52-week low of $57.91 and a 52-week high of $109.42. The company has a 50-day simple moving average of $99.08 and a two-hundred day simple moving average of $88.18.

UMB Financial (NASDAQ:UMBF) last issued its quarterly 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. The company had revenue of $390.03 million during the quarter, compared to the consensus estimate of $384.96 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. UMB Financial’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the business posted $1.93 earnings per share. Research analysts anticipate that UMB Financial Co. will post 8.98 EPS for the current fiscal 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 dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Tuesday, September 10th. UMB Financial’s payout ratio is 20.72%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on UMBF. Keefe, Bruyette & Woods raised shares of UMB Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $93.00 to $98.00 in a research report on Friday, May 31st. Wells Fargo & Company lifted their price objective 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. Piper Sandler upped their target price on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Barclays lifted their price target on UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a research note 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’s stock. Based on data from MarketBeat.com, UMB Financial presently has an average rating of “Moderate Buy” and a consensus target price of $102.33.

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.