Man Group plc Purchases Shares of 4,103 UMB Financial Corporation $UMBF

Man Group plc acquired a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF) during the second quarter, Holdings Channel reports. The fund acquired 4,103 shares of the bank’s stock, valued at approximately $586,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. MBM Wealth Consultants LLC purchased a new stake in UMB Financial during the 1st quarter valued at about $26,000. Kemnay Advisory Services Inc. bought a new position in UMB Financial during the 4th quarter worth approximately $27,000. Axiom Investment Management LLC purchased a new position in UMB Financial in the 1st quarter worth approximately $28,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in UMB Financial in the 2nd quarter worth approximately $38,000. Finally, Hilton Head Capital Partners LLC bought a new stake in UMB Financial in the fourth quarter valued at approximately $34,000. Institutional investors own 87.78% of the company’s stock.

Insider Activity at UMB Financial

In other news, Director Tamara Peterman purchased 394 shares of UMB Financial stock in a transaction that occurred on Tuesday, September 1st. The shares were bought at an average cost of $139.60 per share, with a total value of $55,002.40. Following the completion of the purchase, the director directly owned 10,680 shares in the company, valued at approximately $1,490,928. This trade represents a 3.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Greg M. Graves acquired 573 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was purchased at an average price of $139.60 per share, with a total value of $79,990.80. Following the acquisition, the director owned 40,463 shares of the company’s stock, valued at $5,648,634.80. This represents a 1.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 34,171 shares of company stock valued at $4,919,826 over the last ninety days. Insiders own 5.33% of the company’s stock.

Analyst Ratings Changes

UMBF has been the subject of a number of analyst reports. Wells Fargo & Company set a $160.00 price objective on UMB Financial and gave the company an “equal weight” rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods upped their price target on shares of UMB Financial from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Citigroup reissued a “neutral” rating and set a $162.00 price target (up from $144.00) on shares of UMB Financial in a research report on Friday, July 31st. Truist Financial set a $170.00 target price on UMB Financial and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $166.00 price target (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $166.54.

UMB Financial Price Performance

UMBF stock opened at $143.44 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76. UMB Financial Corporation has a 1 year low of $68.92 and a 1 year high of $144.21. The firm has a 50-day moving average of $144.93 and a 200 day moving average of $131.13. The company has a market cap of $10.89 billion, a P/E ratio of 11.94, a PEG ratio of 0.69 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The business had revenue of $778.00 million for the quarter, compared to analysts’ expectations of $727.63 million. During the same period in the previous year, the firm posted $2.96 EPS. On average, sell-side analysts forecast that UMB Financial Corporation will post 13.5 EPS for the current year.

UMB Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be given a dividend of $0.50 per share. This is a boost from UMB Financial’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 10th. UMB Financial’s dividend payout ratio is presently 14.32%.

UMB Financial Profile

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.