Intech Investment Management LLC Decreases Stock Holdings in UMB Financial Corporation $UMBF

Intech Investment Management LLC trimmed its position in UMB Financial Corporation (NASDAQ:UMBF) by 10.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 31,098 shares of the bank’s stock after selling 3,454 shares during the period. Intech Investment Management LLC’s holdings in UMB Financial were worth $3,270,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UMBF. Vanguard Group Inc. lifted its position in shares of UMB Financial by 54.0% in the first quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank’s stock worth $741,342,000 after buying an additional 2,570,283 shares in the last quarter. Earnest Partners LLC purchased a new position in UMB Financial during the 1st quarter valued at about $144,351,000. Dimensional Fund Advisors LP raised its position in shares of UMB Financial by 78.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank’s stock worth $273,029,000 after acquiring an additional 1,185,671 shares in the last quarter. Nuveen LLC purchased a new stake in UMB Financial during the first quarter valued at approximately $51,324,000. Finally, Wellington Management Group LLP boosted its holdings in UMB Financial by 19.1% in the first quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank’s stock worth $243,359,000 after acquiring an additional 385,830 shares in the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Price Performance

Shares of NASDAQ UMBF opened at $104.17 on Wednesday. UMB Financial Corporation has a 1-year low of $82.00 and a 1-year high of $129.94. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.75 and a quick ratio of 0.77. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.11 and a beta of 0.80. The business has a 50-day moving average of $114.33 and a 200-day moving average of $110.59.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, October 28th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.22. UMB Financial had a return on equity of 12.15% and a net margin of 16.01%.The firm had revenue of $678.34 million for the quarter, compared to analysts’ expectations of $661.60 million. During the same quarter in the prior year, the firm posted $2.25 earnings per share. UMB Financial’s revenue for the quarter was up 67.0% compared to the same quarter last year. On average, equities analysts anticipate that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Wednesday, December 10th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, December 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.40. UMB Financial’s dividend payout ratio (DPR) is 19.48%.

Insiders Place Their Bets

In related news, Director Greg M. Graves acquired 264 shares of the company’s stock in a transaction dated 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 acquisition, the director owned 38,411 shares in the company, valued at $4,087,314.51. This trade represents a 0.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nikki Farentino Newton sold 1,300 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $106.09, for a total transaction of $137,917.00. Following the completion of the sale, the insider directly owned 13,667 shares in the company, valued at approximately $1,449,932.03. The trade was a 8.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders acquired 683 shares of company stock valued at $75,961 and sold 5,877 shares valued at $683,734. Corporate insiders own 5.45% of the company’s stock.

Wall Street Analyst Weigh In

UMBF has been the topic of several recent research reports. Cowen started coverage on shares of UMB Financial in a report on Wednesday, September 24th. They issued a “buy” rating on the stock. Barclays set a $155.00 price objective on shares of UMB Financial and gave the company an “overweight” rating in a report on Wednesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price objective (down previously from $148.00) on shares of UMB Financial in a research report on Thursday, October 30th. Royal Bank Of Canada upgraded shares of UMB Financial from a “sector perform” rating to an “outperform” rating and set a $128.00 price target on the stock in a research note on Thursday, November 6th. Finally, Hovde Group assumed coverage on UMB Financial in a report on Monday, October 6th. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, UMB Financial currently has a consensus rating of “Moderate Buy” and an average price target of $137.20.

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.