UMB Financial Corporation $UMBF Shares Sold by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd lowered its position in shares of UMB Financial Corporation (NASDAQ:UMBF) by 21.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,391 shares of the bank’s stock after selling 2,568 shares during the period. Persistent Asset Partners Ltd’s holdings in UMB Financial were worth $988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its stake in UMB Financial by 4,840.0% during the first quarter. Brooklyn Investment Group now owns 247 shares of the bank’s stock worth $25,000 after acquiring an additional 242 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of UMB Financial during the 1st quarter worth about $27,000. McIlrath & Eck LLC purchased a new stake in UMB Financial in the 1st quarter valued at about $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in UMB Financial in the first quarter valued at about $35,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in UMB Financial by 143.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank’s stock worth $37,000 after buying an additional 213 shares during the period. 87.78% of the stock is currently owned by institutional investors and hedge funds.

UMB Financial Stock Down 0.6%

Shares of UMB Financial stock opened at $108.40 on Friday. UMB Financial Corporation has a 52-week low of $82.00 and a 52-week high of $129.94. The company has a 50 day moving average of $115.13 and a 200 day moving average of $110.47. The company has a quick ratio of 0.77, a current ratio of 0.75 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $8.23 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.11 and a beta of 0.80.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, October 28th. The bank reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.22. The business had revenue of $678.34 million during the quarter, compared to analysts’ expectations of $661.60 million. UMB Financial had a net margin of 16.01% and a return on equity of 12.15%. The company’s revenue for the quarter was up 67.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.25 EPS. As a group, research analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Wednesday, December 10th will be paid a dividend of $0.43 per share. The ex-dividend date is Wednesday, December 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.40. This represents a $1.72 annualized dividend and a yield of 1.6%. UMB Financial’s dividend payout ratio (DPR) is presently 19.48%.

Insider Activity

In other news, EVP Amy Harris sold 500 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $122.02, for a total value of $61,010.00. Following the completion of the transaction, the executive vice president owned 7,285 shares in the company, valued at approximately $888,915.70. This represents a 6.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Greg M. Graves purchased 264 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average price of $106.41 per share, for a total transaction of $28,092.24. Following the completion of the purchase, the director directly owned 38,411 shares in the company, valued at $4,087,314.51. This represents a 0.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 683 shares of company stock valued at $75,961 and have sold 5,877 shares valued at $683,734. 5.45% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on UMBF shares. Barclays set a $155.00 price objective on shares of UMB Financial and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Raymond James Financial restated a “strong-buy” rating and set a $135.00 price target (down from $138.00) on shares of UMB Financial in a research report on Thursday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $145.00 price objective (down previously from $148.00) on shares of UMB Financial in a report on Thursday, October 30th. Wells Fargo & Company raised their target price on UMB Financial from $125.00 to $130.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Finally, TD Cowen reduced their price target on shares of UMB Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.20.

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.