Massachusetts Financial Services Co. MA Grows Stock Holdings in UMB Financial Co. (NASDAQ:UMBF)

Massachusetts Financial Services Co. MA increased its holdings in shares of UMB Financial Co. (NASDAQ:UMBF) by 21.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 517,622 shares of the bank’s stock after purchasing an additional 90,297 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.06% of UMB Financial worth $43,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Assetmark Inc. acquired a new stake in UMB Financial during the 4th quarter worth about $28,000. 1620 Investment Advisors Inc. acquired a new stake in UMB Financial during the second quarter worth about $128,000. CWM LLC grew its holdings in UMB Financial by 7.1% during the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after acquiring an additional 129 shares during the period. Janney Montgomery Scott LLC purchased a new position in UMB Financial during the first quarter valued at approximately $252,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position 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.

UMB Financial Stock Up 3.1 %

UMBF stock opened at $108.86 on Friday. UMB Financial Co. has a 52 week low of $57.91 and a 52 week high of $109.42. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.12. The firm has a 50-day simple moving average of $98.74 and a 200-day simple moving average of $87.93. The stock has a market capitalization of $5.31 billion, a P/E ratio of 14.46 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last announced its 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 business had revenue of $390.03 million during the quarter, compared to analysts’ expectations of $384.96 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.93 earnings per share. Equities analysts forecast that UMB Financial Co. will post 8.98 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.56 annualized dividend and a yield of 1.43%. UMB Financial’s dividend payout ratio (DPR) is presently 20.72%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Barclays lifted their price objective on shares of UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Piper Sandler increased their target price on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Keefe, Bruyette & Woods upgraded 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 note on Friday, May 31st. Two investment 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.33.

Insider Transactions at UMB Financial

In other news, Director Kris A. Robbins sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.50, for a total value 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 SEC, which is accessible through this link. In other UMB Financial news, Director Kris A. Robbins sold 5,000 shares of the stock in a transaction dated 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 approximately $329,127.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tamara Peterman bought 396 shares of the stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $99.56 per share, for a total transaction of $39,425.76. Following the completion of the acquisition, the director now owns 7,407 shares in the company, valued at $737,440.92. The disclosure for this purchase can be found here. Insiders sold 34,846 shares of company stock valued at $3,135,439 over the last 90 days. 8.85% of the stock is currently owned by corporate 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.