Commerce Bank Makes New Investment in UMB Financial Corporation $UMBF

Commerce Bank purchased a new position in UMB Financial Corporation (NASDAQ:UMBF) in the 2nd quarter, Holdings Channel reports. The firm purchased 29,401 shares of the bank’s stock, valued at approximately $4,197,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of UMB Financial during the second quarter valued at $1,458,386,000. Alliancebernstein L.P. raised its position in UMB Financial by 636.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock worth $156,543,000 after buying an additional 1,286,543 shares during the last quarter. Wellington Management Group LLP raised its position in UMB Financial by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock worth $366,743,000 after buying an additional 751,525 shares during the last quarter. Norges Bank purchased a new position in UMB Financial in the 4th quarter worth about $85,885,000. Finally, Bank of New York Mellon Corp bought a new position in UMB Financial during the 2nd quarter valued at about $78,410,000. 87.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, President James D. Rine sold 8,246 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the completion of the sale, the president directly owned 61,446 shares in the company, valued at approximately $8,147,125.14. The trade was a 11.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nikki Farentino Newton sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $148.60, for a total transaction of $297,200.00. Following the sale, the insider directly owned 11,981 shares of the company’s stock, valued at approximately $1,780,376.60. This represents a 14.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,171 shares of company stock valued at $4,919,826 in the last 90 days. 5.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays reaffirmed an “overweight” rating and set a $175.00 price target (up from $170.00) on shares of UMB Financial in a report on Monday, August 3rd. Wells Fargo & Company set a $160.00 price objective on shares of UMB Financial and gave the company an “equal weight” rating in a report on Monday, August 10th. Truist Financial set a $170.00 price objective on shares of UMB Financial and gave the company a “buy” rating in a research report on Tuesday, August 4th. Weiss Ratings restated a “buy (b)” rating on shares of UMB Financial in a report on Friday, July 24th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of UMB Financial from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, UMB Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.00.

UMB Financial Stock Down 0.8%

UMBF stock opened at $143.96 on Tuesday. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 0.71 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. The business’s 50-day moving average is $144.02 and its two-hundred day moving average is $130.52. UMB Financial Corporation has a fifty-two week low of $103.38 and a fifty-two week high of $153.32.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $727.63 million. During the same period in the previous year, the company posted $2.96 EPS. As a group, analysts forecast that UMB Financial Corporation will post 13.48 earnings per share for the current year.

UMB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. UMB Financial’s payout ratio is 16.65%.

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.