Assetmark Inc. Acquires 2,692 Shares of UMB Financial Co. (NASDAQ:UMBF)

Assetmark Inc. boosted its holdings in UMB Financial Co. (NASDAQ:UMBF) by 572.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,162 shares of the bank’s stock after buying an additional 2,692 shares during the period. Assetmark Inc.’s holdings in UMB Financial were worth $332,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in UMB Financial during the third quarter worth about $26,000. 1620 Investment Advisors Inc. bought a new stake in shares of UMB Financial in the 2nd quarter worth approximately $128,000. CWM LLC grew its holdings in shares of UMB Financial by 7.1% during the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after purchasing an additional 129 shares in the last quarter. Heritage Family Offices LLP bought a new stake in shares of UMB Financial during the third quarter valued at approximately $203,000. Finally, Greenleaf Trust acquired a new position in shares of UMB Financial in the third quarter valued at $233,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on UMBF. Barclays lifted their price target on shares of UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Citigroup assumed coverage on shares of UMB Financial in a research report on Thursday, October 10th. They set a “buy” rating and a $127.00 target price on the stock. Wells Fargo & Company upped their target price on shares of UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, Piper Sandler raised their price target on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.00.

UMB Financial Stock Down 1.1 %

Shares of NASDAQ:UMBF opened at $121.49 on Friday. The company has a market capitalization of $5.93 billion, a PE ratio of 15.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.76 and a current ratio of 0.76. The company’s fifty day moving average is $108.82 and its 200-day moving average is $95.84. UMB Financial Co. has a 52 week low of $69.96 and a 52 week high of $128.73.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.05. The firm had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same period in the previous year, the business earned $2.02 earnings per share. Equities research analysts predict that UMB Financial Co. will post 9.33 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 1.32%. UMB Financial’s dividend payout ratio is 20.00%.

Insider Activity at UMB Financial

In other news, EVP John Pauls sold 849 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $110.42, for a total transaction of $93,746.58. Following the sale, the executive vice president now directly owns 6,483 shares of the company’s stock, valued at $715,852.86. This represents a 11.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kris A. Robbins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.50, for a total transaction of $512,500.00. Following the completion of the sale, the director now directly owns 3,211 shares of the company’s stock, valued at approximately $329,127.50. This represents a 60.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,449 shares of company stock valued at $5,724,799 in the last three months. Corporate insiders own 8.85% of the company’s stock.

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.