Crossmark Global Holdings Inc. Acquires Shares of 3,448 UMB Financial Co. (NASDAQ:UMBF)

Crossmark Global Holdings Inc. bought a new stake in UMB Financial Co. (NASDAQ:UMBF) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,448 shares of the bank’s stock, valued at approximately $362,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in shares of UMB Financial during the third quarter worth approximately $26,000. Covestor Ltd boosted its stake in UMB Financial by 31.0% during the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after purchasing an additional 102 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of UMB Financial during the second quarter worth $128,000. Heritage Family Offices LLP acquired a new stake in shares of UMB Financial in the third quarter valued at about $203,000. Finally, CWM LLC lifted its stake in shares of UMB Financial by 7.1% in the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after buying an additional 129 shares in the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

Insider Activity

In other UMB Financial news, Director Kris A. Robbins sold 5,000 shares of UMB Financial stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the transaction, the director now directly owns 3,211 shares of the company’s stock, valued at $329,127.50. The trade was a 60.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John Pauls sold 849 shares of the stock in a transaction dated Friday, November 1st. The stock was 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 in the company, valued at $715,852.86. This represents a 11.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,449 shares of company stock valued at $5,724,799. Company insiders own 8.85% of the company’s stock.

UMB Financial Stock Down 1.1 %

Shares of NASDAQ UMBF opened at $121.49 on Monday. UMB Financial Co. has a 1 year low of $69.96 and a 1 year high of $128.73. The company has a market capitalization of $5.93 billion, a P/E ratio of 15.19 and a beta of 0.78. The company has a 50 day simple moving average of $108.82 and a 200-day simple moving average of $95.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76.

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

UMB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 boost from UMB Financial’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.32%. UMB Financial’s dividend payout ratio (DPR) is currently 19.50%.

Analysts Set New Price Targets

Several brokerages recently issued reports on UMBF. Wells Fargo & Company upped their price objective 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. Piper Sandler upped their price target on UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Citigroup initiated coverage on UMB Financial in a report on Thursday, October 10th. They issued a “buy” rating and a $127.00 price target for the company. Finally, Barclays upped their target price on UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two investment 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 stock. According to data from MarketBeat.com, UMB Financial has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

About UMB Financial

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.