Summit Global Investments Makes New $632,000 Investment in UMB Financial Corporation $UMBF

Summit Global Investments purchased a new stake in UMB Financial Corporation (NASDAQ:UMBF) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 4,858 shares of the bank’s stock, valued at approximately $632,000.

Other institutional investors have also recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in UMB Financial by 68.8% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 8,100 shares of the bank’s stock worth $1,053,000 after acquiring an additional 3,300 shares in the last quarter. Moody Aldrich Partners LLC increased its position in shares of UMB Financial by 211.4% in the 3rd quarter. Moody Aldrich Partners LLC now owns 72,559 shares of the bank’s stock worth $9,433,000 after purchasing an additional 49,261 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of UMB Financial by 9.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 4,211 shares of the bank’s stock worth $547,000 after purchasing an additional 373 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of UMB Financial by 15.2% in the 3rd quarter. Park Avenue Securities LLC now owns 4,756 shares of the bank’s stock worth $618,000 after purchasing an additional 627 shares during the last quarter. Finally, WESPAC Advisors LLC raised its stake in shares of UMB Financial by 143.3% in the 3rd quarter. WESPAC Advisors LLC now owns 5,076 shares of the bank’s stock valued at $660,000 after purchasing an additional 2,990 shares in the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Tamara Peterman purchased 394 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were acquired at an average cost of $139.60 per share, for a total transaction of $55,002.40. Following the transaction, the director owned 10,680 shares of the company’s stock, valued at $1,490,928. This trade represents a 3.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Greg Graves purchased 573 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was bought at an average cost of $139.60 per share, for a total transaction of $79,990.80. Following the acquisition, the director owned 40,463 shares in the company, valued at approximately $5,648,634.80. The trade was a 1.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,892 shares of company stock valued at $271,664. 5.33% of the stock is currently owned by insiders.

UMB Financial Stock Up 2.2%

Shares of NASDAQ:UMBF opened at $137.46 on Tuesday. The company’s fifty day moving average is $135.56 and its two-hundred day moving average is $131.30. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.76. UMB Financial Corporation has a 1-year low of $68.92 and a 1-year high of $144.36. The stock has a market capitalization of $10.44 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 0.62 and a beta of 0.82.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, October 27th. The bank reported $3.56 EPS for the quarter, beating the consensus estimate of $3.22 by $0.34. UMB Financial had a net margin of 23.45% and a return on equity of 14.07%. The business had revenue of $772.39 million during the quarter, compared to analyst estimates of $744.81 million. During the same period in the previous year, the business posted $2.70 EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis. Equities analysts anticipate that UMB Financial Corporation will post 13.79 EPS for the current year.

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Thursday, December 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. UMB Financial’s dividend payout ratio (DPR) is currently 15.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on UMBF shares. Royal Bank Of Canada reduced their price target on shares of UMB Financial from $170.00 to $168.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. Piper Sandler lowered their price objective on UMB Financial from $181.00 to $169.00 and set an “overweight” rating for the company in a report on Thursday. Raymond James Financial began coverage on UMB Financial in a research note on Thursday, August 27th. They set an “outperform” rating and a $165.00 price objective on the stock. UBS Group initiated coverage on UMB Financial in a report on Monday, September 14th. They set a “neutral” rating and a $155.00 target price on the stock. Finally, TD Cowen lifted their target price on UMB Financial from $152.00 to $154.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, UMB Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.93.

UMB Financial Profile

UMB Financial Corporation is a financial holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to individuals, businesses, institutions and government entities. The company serves customers through banking offices and digital channels across the Midwest and other U.S. markets.

UMB Bank offers commercial and personal banking products, including deposit accounts, loans, treasury management, payment services and credit solutions.