Creative Planning Raises Position in UMB Financial Co. (NASDAQ:UMBF)

Creative Planning grew its holdings in shares of UMB Financial Co. (NASDAQ:UMBF) by 6.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,657 shares of the bank’s stock after acquiring an additional 2,453 shares during the period. Creative Planning owned about 0.08% of UMB Financial worth $3,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new stake in UMB Financial in the second quarter worth about $128,000. CWM LLC increased 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 acquiring an additional 129 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in UMB Financial during the first quarter valued at approximately $252,000. Profund Advisors LLC boosted its position in shares of UMB Financial by 6.7% in the second quarter. Profund Advisors LLC now owns 3,493 shares of the bank’s stock worth $291,000 after purchasing an additional 220 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of UMB Financial by 30.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,451 shares of the bank’s stock worth $300,000 after purchasing an additional 809 shares during the period. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UMBF has been the topic of a number of analyst reports. Piper Sandler lifted their target price on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company boosted their price objective on UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, Barclays increased their target price on UMB Financial from $100.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.33.

UMB Financial Price Performance

UMBF stock opened at $103.68 on Friday. UMB Financial Co. has a 52 week low of $58.81 and a 52 week high of $109.42. The firm has a market capitalization of $5.05 billion, a P/E ratio of 13.77 and a beta of 0.78. The company has a fifty day simple moving average of $100.59 and a two-hundred day simple moving average of $89.74. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.12.

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

UMB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Tuesday, September 10th. UMB Financial’s dividend payout ratio is currently 20.72%.

Insider Activity at UMB Financial

In other news, Director Tamara Peterman purchased 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 purchase, the director now owns 7,407 shares in the company, valued at approximately $737,440.92. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other UMB Financial news, Director Tamara Peterman purchased 396 shares of UMB Financial stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost 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. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO J Mariner Kemper sold 10,115 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $93.00, for a total value of $940,695.00. Following the transaction, the chief executive officer now owns 257,796 shares of the company’s stock, valued at approximately $23,975,028. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,596 shares of company stock worth $4,224,884. Company insiders own 8.85% of the company’s stock.

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.