MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $6.10 Million Position in UMB Financial Corporation $UMBF

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in UMB Financial Corporation (NASDAQ:UMBF) by 41.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 60,344 shares of the bank’s stock after buying an additional 17,696 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in UMB Financial were worth $6,101,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Boothbay Fund Management LLC acquired a new position in UMB Financial in the first quarter worth about $6,888,000. Bridgeway Capital Management LLC raised its position in UMB Financial by 3.3% in the first quarter. Bridgeway Capital Management LLC now owns 31,305 shares of the bank’s stock worth $3,165,000 after purchasing an additional 1,005 shares in the last quarter. Alliancebernstein L.P. raised its position in UMB Financial by 118.1% in the first quarter. Alliancebernstein L.P. now owns 202,075 shares of the bank’s stock worth $20,430,000 after purchasing an additional 109,434 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in UMB Financial by 50.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 453,900 shares of the bank’s stock worth $45,889,000 after purchasing an additional 152,192 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec raised its position in UMB Financial by 19.9% in the first quarter. Federation des caisses Desjardins du Quebec now owns 16,143 shares of the bank’s stock worth $1,633,000 after purchasing an additional 2,674 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on UMBF. Raymond James Financial increased their price target on shares of UMB Financial from $135.00 to $138.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 31st. Truist Financial upped their price objective on shares of UMB Financial from $130.00 to $144.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company upped their price objective on shares of UMB Financial from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. Piper Sandler upped their price objective on shares of UMB Financial from $135.00 to $148.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada upped their price objective on shares of UMB Financial from $115.00 to $122.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, UMB Financial currently has an average rating of “Moderate Buy” and a consensus target price of $133.89.

Insider Buying and Selling

In related news, Director Greg M. Graves acquired 234 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were acquired at an average cost of $120.44 per share, for a total transaction of $28,182.96. Following the completion of the acquisition, the director directly owned 38,034 shares in the company, valued at approximately $4,580,814.96. The trade was a 0.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Amy Harris sold 500 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $122.02, for a total transaction of $61,010.00. Following the sale, the executive vice president owned 7,285 shares in the company, valued at approximately $888,915.70. The trade was a 6.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 678 shares of company stock valued at $75,948 and sold 20,845 shares valued at $2,440,666. 5.45% of the stock is currently owned by company insiders.

UMB Financial Price Performance

UMBF opened at $121.99 on Thursday. UMB Financial Corporation has a one year low of $82.00 and a one 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. The company’s 50 day simple moving average is $112.46 and its 200-day simple moving average is $104.72. The stock has a market capitalization of $9.26 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.39 and a beta of 0.77.

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

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.60 annualized dividend and a yield of 1.3%. UMB Financial’s dividend payout ratio (DPR) is 18.39%.

UMB Financial Company 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.