Creative Planning increased its position in UMB Financial Corporation (NASDAQ:UMBF) by 10.4% during the second quarter, Holdings Channel reports. The firm owned 11,252 shares of the bank’s stock after buying an additional 1,058 shares during the period. Creative Planning’s holdings in UMB Financial Corporation were worth $842,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Capstone Asset Management Co. boosted its stake in UMB Financial Corporation by 7.3% in the second quarter. Capstone Asset Management Co. now owns 4,113 shares of the bank’s stock valued at $308,000 after buying an additional 280 shares in the last quarter. Independence Advisors LLC acquired a new stake in UMB Financial Corporation during the second quarter valued at approximately $273,000. TrueNorth Inc. acquired a new stake in UMB Financial Corporation during the first quarter valued at approximately $959,000. Piedmont Investment Advisors LLC acquired a new stake in UMB Financial Corporation during the first quarter valued at approximately $1,502,000. Finally, Public Employees Retirement System of Ohio boosted its stake in UMB Financial Corporation by 13.4% in the first quarter. Public Employees Retirement System of Ohio now owns 10,835 shares of the bank’s stock valued at $816,000 after buying an additional 1,281 shares in the last quarter. Institutional investors own 82.08% of the company’s stock.
UMB Financial Corporation (NASDAQ UMBF) opened at 72.73 on Friday. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 21.58 and a beta of 0.87. UMB Financial Corporation has a 12-month low of $54.12 and a 12-month high of $81.55. The stock has a 50 day moving average price of $73.83 and a 200-day moving average price of $74.81.
UMB Financial Corporation (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, April 25th. The bank reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The company had revenue of $255.10 million for the quarter, compared to the consensus estimate of $252.57 million. UMB Financial Corporation had a return on equity of 8.60% and a net margin of 16.24%. On average, analysts predict that UMB Financial Corporation will post $3.77 EPS for the current fiscal year.
UMB Financial Corporation announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 25th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 9th were paid a $0.255 dividend. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $1.02 annualized dividend and a dividend yield of 1.40%. UMB Financial Corporation’s payout ratio is currently 30.27%.
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UMBF has been the subject of several recent analyst reports. Zacks Investment Research cut UMB Financial Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, April 29th. Keefe, Bruyette & Woods set a $75.00 price objective on UMB Financial Corporation and gave the company a “hold” rating in a research note on Tuesday, April 4th. BidaskClub raised UMB Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. FBR & Co reissued a “hold” rating and issued a $82.00 price objective (up previously from $80.00) on shares of UMB Financial Corporation in a research note on Friday, April 21st. Finally, Stephens reissued a “hold” rating on shares of UMB Financial Corporation in a research note on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. UMB Financial Corporation has an average rating of “Hold” and an average target price of $80.00.
In related news, Director Kris A. Robbins sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $73.86, for a total value of $36,930.00. Following the sale, the director now owns 4,160 shares in the company, valued at approximately $307,257.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy R. Murphy purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was bought at an average price of $70.53 per share, for a total transaction of $141,060.00. Following the purchase, the director now directly owns 2,549 shares in the company, valued at $179,780.97. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 2,285 shares of company stock worth $162,066 and sold 58,072 shares worth $4,332,791. Corporate insiders own 10.09% of the company’s stock.
UMB Financial Corporation Company Profile
UMB Financial Corporation is a diversified financial holding company. The Company supplies banking services, institutional investment management, asset servicing and payment solutions to its customers in the United States and around the globe. The Company’s segments include Bank, which provides a range of banking services to commercial, retail, government and correspondent bank customers through the Company’s branches, call center, Internet banking and automated teller machine network; Institutional Investment Management, which provides equity and fixed income investment strategies in the intermediary and institutional markets, and Asset Servicing, which provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts.
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