UMB Financial Co. (NASDAQ:UMBF) Shares Purchased by Truist Financial Corp

Truist Financial Corp raised its stake in shares of UMB Financial Co. (NASDAQ:UMBF) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,238 shares of the bank’s stock after purchasing an additional 136 shares during the period. Truist Financial Corp’s holdings in UMB Financial were worth $354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of UMBF. CWM LLC grew its holdings 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 purchasing an additional 129 shares in the last quarter. Retirement Systems of Alabama boosted its stake in UMB Financial by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 54,848 shares of the bank’s stock valued at $4,771,000 after acquiring an additional 144 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in UMB Financial by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock valued at $4,496,000 after acquiring an additional 200 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in UMB Financial by 0.4% during the 2nd quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank’s stock valued at $4,913,000 after acquiring an additional 210 shares during the last quarter. Finally, Profund Advisors LLC boosted its stake in UMB Financial by 6.7% during the 2nd quarter. Profund Advisors LLC now owns 3,493 shares of the bank’s stock valued at $291,000 after acquiring an additional 220 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

Insiders Place Their Bets

In related news, EVP John Pauls sold 1,623 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $92.97, for a total transaction of $150,890.31. Following the completion of the sale, the executive vice president now directly owns 7,332 shares in the company, valued at approximately $681,656.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Tamara Peterman purchased 396 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $99.56 per share, with a total value of $39,425.76. Following the completion of the transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Pauls sold 1,623 shares of UMB Financial stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $92.97, for a total transaction of $150,890.31. Following the completion of the transaction, the executive vice president now directly owns 7,332 shares in the company, valued at approximately $681,656.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,596 shares of company stock worth $4,224,884 over the last ninety days. 8.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on UMBF shares. Piper Sandler raised their price target on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised their price target 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. Barclays increased 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, Citigroup assumed coverage on shares of UMB Financial in a report on Thursday, October 10th. They issued a “buy” rating and a $127.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.86.

UMB Financial Stock Performance

Shares of UMBF opened at $111.67 on Friday. The firm’s 50 day moving average is $102.81 and its 200-day moving average is $91.21. The stock has a market capitalization of $5.44 billion, a P/E ratio of 14.41 and a beta of 0.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.73 and a quick ratio of 0.73. UMB Financial Co. has a 12-month low of $58.92 and a 12-month high of $113.30.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, July 30th. The bank reported $2.16 earnings per share (EPS) for the quarter, topping 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 company had revenue of $390.03 million for the quarter, compared to analysts’ expectations of $384.96 million. During the same quarter in the previous year, the company posted $1.93 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that UMB Financial Co. will post 8.98 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Tuesday, September 10th. UMB Financial’s payout ratio is 20.13%.

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.