The Manufacturers Life Insurance Company Grows Stock Position in UMB Financial Co. (NASDAQ:UMBF)

The Manufacturers Life Insurance Company boosted its holdings in shares of UMB Financial Co. (NASDAQ:UMBF) by 0.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,900 shares of the bank’s stock after purchasing an additional 200 shares during the period. The Manufacturers Life Insurance Company owned about 0.11% of UMB Financial worth $4,496,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of UMBF. CWM LLC boosted its position in UMB Financial by 7.1% during the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock valued at $162,000 after acquiring an additional 129 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of UMB Financial by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 54,848 shares of the bank’s stock worth $4,771,000 after purchasing an additional 144 shares in the last quarter. Great Lakes Advisors LLC boosted its position in shares of UMB Financial by 0.4% in the 2nd quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank’s stock worth $4,913,000 after purchasing an additional 210 shares in the last quarter. Profund Advisors LLC boosted its position in shares of UMB Financial by 6.7% in the 2nd quarter. Profund Advisors LLC now owns 3,493 shares of the bank’s stock worth $291,000 after purchasing an additional 220 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in UMB Financial by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 12,962 shares of the bank’s stock worth $1,081,000 after acquiring an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

Insider Transactions at UMB Financial

In other news, CEO J Mariner Kemper sold 24,300 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total value of $2,473,983.00. Following the completion of the sale, the chief executive officer now directly owns 1,600,904 shares in the company, valued at $162,988,036.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO J Mariner Kemper sold 24,300 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total value of $2,473,983.00. Following the completion of the transaction, the chief executive officer now owns 1,600,904 shares of the company’s stock, valued at approximately $162,988,036.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tamara Peterman bought 396 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost 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. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 42,596 shares of company stock worth $4,224,884 in the last three months. Corporate insiders own 8.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UMBF. Wells Fargo & Company boosted their price objective on shares of UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Barclays boosted their price objective on shares of UMB Financial from $100.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Piper Sandler boosted their price objective 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. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.33.

UMB Financial Price Performance

Shares of UMBF opened at $104.26 on Tuesday. The firm has a market cap of $5.08 billion, a PE ratio of 13.85 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. The firm has a fifty day simple moving average of $100.71 and a two-hundred day simple moving average of $89.95. UMB Financial Co. has a 1-year low of $58.92 and a 1-year high of $109.42.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, July 30th. The bank reported $2.16 EPS for the quarter, topping the consensus estimate of $2.01 by $0.15. The firm had revenue of $390.03 million during the quarter, compared to analyst estimates 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 in the prior year, the business posted $1.93 EPS. On average, equities analysts anticipate that UMB Financial Co. will post 8.98 EPS for the current year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were paid a $0.39 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.56 annualized dividend and a dividend yield of 1.50%. UMB Financial’s dividend payout ratio (DPR) is 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.