UMB Financial Corporation $UMBF Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in shares of UMB Financial Corporation (NASDAQ:UMBF) by 3.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,976,030 shares of the bank’s stock after purchasing an additional 63,147 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in UMB Financial were worth $213,688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Truist Financial Corp boosted its position in UMB Financial by 0.5% during the 2nd quarter. Truist Financial Corp now owns 20,426 shares of the bank’s stock worth $2,148,000 after acquiring an additional 97 shares during the period. MAI Capital Management boosted its position in UMB Financial by 14.7% during the 1st quarter. MAI Capital Management now owns 771 shares of the bank’s stock worth $78,000 after acquiring an additional 99 shares during the period. OLD National Bancorp IN boosted its position in UMB Financial by 0.4% during the 2nd quarter. OLD National Bancorp IN now owns 22,834 shares of the bank’s stock worth $2,401,000 after acquiring an additional 100 shares during the period. Crossmark Global Holdings Inc. boosted its position in UMB Financial by 4.1% during the 1st quarter. Crossmark Global Holdings Inc. now owns 3,784 shares of the bank’s stock worth $383,000 after acquiring an additional 150 shares during the period. Finally, SummerHaven Investment Management LLC boosted its position in UMB Financial by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 9,298 shares of the bank’s stock worth $978,000 after acquiring an additional 153 shares during the period. Institutional investors and hedge funds own 87.78% of the company’s stock.

Wall Street Analysts Forecast Growth

UMBF has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target on UMB Financial from $122.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Friday. Weiss Ratings reiterated a “hold (c+)” rating on shares of UMB Financial in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their price target on UMB Financial from $125.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Hovde Group started coverage on UMB Financial in a report on Monday, October 6th. They issued an “outperform” rating for the company. Finally, Raymond James Financial upped their price objective on UMB Financial from $135.00 to $138.00 and gave the company a “strong-buy” rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $138.00.

UMB Financial Trading Down 4.8%

Shares of UMB Financial stock opened at $113.02 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 1.15 and a beta of 0.73. The business has a fifty day simple moving average of $118.57 and a 200-day simple moving average of $107.36. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $129.94.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.61. The business had revenue of $689.21 million during the quarter, compared to analyst estimates of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The company’s revenue was up 76.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.16 earnings per share. On average, equities analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. UMB Financial’s payout ratio is 18.39%.

Insider Activity at UMB Financial

In other news, insider Phillip James Mason sold 750 shares of the business’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $120.97, for a total transaction of $90,727.50. Following the sale, the insider directly owned 8,815 shares of the company’s stock, valued at $1,066,350.55. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Amy Harris sold 500 shares of the business’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $122.02, for a total value of $61,010.00. Following the sale, the executive vice president directly owned 7,285 shares in the company, valued at $888,915.70. This trade represents a 6.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 678 shares of company stock valued at $75,948 and sold 20,845 shares valued at $2,440,666. 5.45% of the stock is currently owned by company insiders.

UMB Financial Company 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.