746,569 Shares in UMB Financial Corporation $UMBF Purchased by Norges Bank

Norges Bank acquired a new position in UMB Financial Corporation (NASDAQ:UMBF) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 746,569 shares of the bank’s stock, valued at approximately $85,885,000. Norges Bank owned approximately 0.98% of UMB Financial as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in UMB Financial in the 4th quarter valued at about $37,000. EverSource Wealth Advisors LLC lifted its holdings in UMB Financial by 193.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 405 shares of the bank’s stock valued at $43,000 after purchasing an additional 267 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in UMB Financial by 419.2% in the 4th quarter. Global Retirement Partners LLC now owns 405 shares of the bank’s stock valued at $47,000 after purchasing an additional 327 shares in the last quarter. Bessemer Group Inc. lifted its holdings in UMB Financial by 72.8% in the 3rd quarter. Bessemer Group Inc. now owns 420 shares of the bank’s stock valued at $50,000 after purchasing an additional 177 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in UMB Financial by 88.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 425 shares of the bank’s stock valued at $50,000 after purchasing an additional 199 shares in the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley reduced their target price on shares of UMB Financial from $156.00 to $143.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings upgraded shares of UMB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Truist Financial set a $140.00 target price on shares of UMB Financial in a report on Friday, May 1st. Zacks Research upgraded shares of UMB Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, Barclays upped their target price on shares of UMB Financial from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, UMB Financial currently has a consensus rating of “Buy” and a consensus price target of $145.55.

UMB Financial Trading Up 0.9%

NASDAQ UMBF opened at $129.92 on Friday. UMB Financial Corporation has a 12 month low of $98.16 and a 12 month high of $136.11. The company has a 50-day moving average of $124.27 and a 200-day moving average of $120.66. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $9.87 billion, a P/E ratio of 11.53, a P/E/G ratio of 0.88 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.59. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. The company had revenue of $739.16 million during the quarter, compared to the consensus estimate of $701.79 million. During the same quarter in the prior year, the company posted $2.58 EPS. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. As a group, equities analysts predict that UMB Financial Corporation will post 12.76 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.3%. UMB Financial’s dividend payout ratio is currently 15.26%.

About UMB Financial

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.