Invesco Ltd. Raises Stock Position in UMB Financial Corporation $UMBF

Invesco Ltd. raised its stake in shares of UMB Financial Corporation (NASDAQ:UMBF) by 28.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 399,590 shares of the bank’s stock after purchasing an additional 89,610 shares during the quarter. Invesco Ltd.’s holdings in UMB Financial were worth $40,399,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Global Alpha Capital Management Ltd. increased its position in UMB Financial by 21.1% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 511,137 shares of the bank’s stock valued at $51,676,000 after purchasing an additional 89,114 shares during the period. Angel Oak Capital Advisors LLC purchased a new position in UMB Financial during the 1st quarter valued at $981,000. Wolverine Asset Management LLC purchased a new position in UMB Financial during the 1st quarter valued at $2,402,000. Citigroup Inc. boosted its holdings in shares of UMB Financial by 12.5% during the 1st quarter. Citigroup Inc. now owns 105,889 shares of the bank’s stock valued at $10,705,000 after buying an additional 11,792 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of UMB Financial by 54.0% during the 1st quarter. Swiss National Bank now owns 140,320 shares of the bank’s stock valued at $14,186,000 after buying an additional 49,220 shares in the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Stock Performance

Shares of UMB Financial stock opened at $115.67 on Tuesday. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 1.31 and a beta of 0.77. The firm’s 50-day moving average is $106.67 and its 200 day moving average is $103.53. 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 0.10, a current ratio of 0.77 and a quick ratio of 0.77.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.61. The company had revenue of $689.21 million for the quarter, compared to analysts’ expectations of $638.25 million. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. UMB Financial’s revenue was up 76.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.16 EPS. Sell-side analysts anticipate that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.60 annualized dividend and a yield of 1.4%. UMB Financial’s dividend payout ratio is currently 18.39%.

Analyst Ratings Changes

UMBF has been the topic of a number of research reports. Truist Financial boosted their target price on shares of UMB Financial from $120.00 to $128.00 and gave the company a “buy” rating in a report on Friday, July 11th. Wall Street Zen cut shares of UMB Financial from a “hold” rating to a “sell” rating in a report on Friday, May 2nd. Raymond James Financial boosted their target price on shares of UMB Financial from $135.00 to $138.00 and gave the company a “strong-buy” rating in a report on Thursday, July 31st. Barclays boosted their target price on shares of UMB Financial from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Finally, Royal Bank Of Canada boosted their target price on shares of UMB Financial from $115.00 to $122.00 and gave the company a “sector perform” rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.11.

Insider Buying and Selling at UMB Financial

In related news, Director Greg M. Graves bought 261 shares of the stock in a transaction on Friday, August 1st. The shares were acquired at an average price of $107.58 per share, for a total transaction of $28,078.38. Following the purchase, the director owned 37,800 shares of the company’s stock, valued at approximately $4,066,524. The trade was a 0.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Brian Beaird sold 1,205 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $116.17, for a total transaction of $139,984.85. Following the transaction, the insider owned 10,147 shares in the company, valued at $1,178,776.99. This represents a 10.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,140 shares of company stock worth $2,496,771. Company insiders own 5.45% of the company’s stock.

UMB Financial 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.