Ieq Capital LLC Takes Position in UMB Financial Corporation $UMBF

Ieq Capital LLC bought a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,974 shares of the bank’s stock, valued at approximately $567,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MBM Wealth Consultants LLC bought a new position in UMB Financial during the 1st quarter valued at approximately $26,000. Kemnay Advisory Services Inc. bought a new stake in UMB Financial in the fourth quarter worth $27,000. Axiom Investment Management LLC bought a new stake in UMB Financial in the first quarter worth $28,000. Hilton Head Capital Partners LLC purchased a new stake in shares of UMB Financial in the fourth quarter worth $34,000. Finally, Torren Management LLC purchased a new stake in shares of UMB Financial in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 87.78% of the company’s stock.

UMB Financial Price Performance

UMBF opened at $144.59 on Friday. The company’s 50-day simple moving average is $144.86 and its two-hundred day simple moving average is $130.85. 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 stock has a market capitalization of $10.98 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.71 and a beta of 0.77. UMB Financial Corporation has a 52-week low of $103.38 and a 52-week high of $153.32.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.12 by $0.45. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. The firm had revenue of $778.00 million during the quarter, compared to analyst estimates of $727.63 million. During the same period in the previous year, the business posted $2.96 earnings per share. As a group, analysts predict that UMB Financial Corporation will post 13.48 EPS for the current year.

UMB Financial Increases Dividend

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

Insiders Place Their Bets

In other news, Director Kevin Charles Gallagher sold 360 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $145.13, for a total transaction of $52,246.80. Following the transaction, the director directly owned 11,863 shares of the company’s stock, valued at $1,721,677.19. This represents a 2.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO J Mariner Kemper sold 15,062 shares of UMB Financial stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $148.55, for a total value of $2,237,460.10. Following the completion of the sale, the chief executive officer directly owned 1,491,138 shares of the company’s stock, valued at $221,508,549.90. The trade was a 1.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,171 shares of company stock worth $4,919,826 in the last 90 days. Insiders own 5.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on UMB Financial from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Piper Sandler reissued an “overweight” rating and set a $181.00 price objective (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. Barclays restated an “overweight” rating and set a $175.00 price objective (up from $170.00) on shares of UMB Financial in a research note on Monday, August 3rd. Wells Fargo & Company set a $160.00 target price on shares of UMB Financial and gave the stock an “equal weight” rating in a report on Monday, August 10th. Finally, Morgan Stanley upped their target price on shares of UMB Financial from $143.00 to $159.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $166.54.

UMB Financial Company 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.