Vanguard Group Inc. Has $741.34 Million Stock Position in UMB Financial Corporation (NASDAQ:UMBF)

Vanguard Group Inc. increased its holdings in UMB Financial Corporation (NASDAQ:UMBF) by 54.0% in the 1st quarter, Holdings Channel reports. The fund owned 7,332,764 shares of the bank’s stock after purchasing an additional 2,570,283 shares during the period. Vanguard Group Inc. owned approximately 0.10% of UMB Financial worth $741,342,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of UMBF. Freestone Grove Partners LP purchased a new stake in UMB Financial in the 4th quarter worth about $48,235,000. Adage Capital Partners GP L.L.C. lifted its stake in UMB Financial by 298.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 301,708 shares of the bank’s stock worth $34,051,000 after acquiring an additional 225,908 shares in the last quarter. Stieven Capital Advisors L.P. purchased a new stake in UMB Financial in the 1st quarter worth about $21,088,000. New York State Common Retirement Fund lifted its stake in UMB Financial by 1,302.5% in the 1st quarter. New York State Common Retirement Fund now owns 194,586 shares of the bank’s stock worth $19,673,000 after acquiring an additional 180,712 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in UMB Financial by 22,173.3% in the 4th quarter. Point72 Asset Management L.P. now owns 176,627 shares of the bank’s stock worth $19,934,000 after acquiring an additional 175,834 shares in the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Stock Up 4.3%

UMBF opened at $114.55 on Wednesday. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. The business has a 50-day moving average of $105.78 and a 200-day moving average of $103.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $8.70 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.25 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.61. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%. The business had revenue of $689.21 million for the quarter, compared to the consensus estimate of $638.25 million. During the same period last year, the business earned $2.16 EPS. The firm’s revenue was up 76.7% compared to the same quarter last year. Equities research analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 10th. UMB Financial’s dividend payout ratio (DPR) is presently 18.39%.

Insider Buying and Selling

In related news, Director Greg M. Graves acquired 261 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average cost of $107.58 per share, with a total value 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J Mariner Kemper sold 5,412 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the transaction, the chief executive officer directly owned 288,945 shares in the company, valued at $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.45% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

UMBF has been the subject of several research analyst reports. Bank of America initiated coverage on UMB Financial in a research note on Wednesday, April 16th. They issued a “buy” rating and a $105.00 price objective for the company. Royal Bank Of Canada increased their price objective on UMB Financial from $115.00 to $122.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. Wells Fargo & Company increased their price objective on UMB Financial from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. Barclays raised their price target on UMB Financial from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Finally, Wall Street Zen downgraded UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.11.

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.