7,908 Shares in UMB Financial Co. (NASDAQ:UMBF) Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. purchased a new position in UMB Financial Co. (NASDAQ:UMBF) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,908 shares of the bank’s stock, valued at approximately $831,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Covestor Ltd grew its position in UMB Financial by 31.0% in the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after acquiring an additional 102 shares in the last quarter. CWM LLC boosted its position in shares of UMB Financial by 7.1% during the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock valued at $162,000 after buying an additional 129 shares during the period. Truist Financial Corp boosted its position in shares of UMB Financial by 3.3% during the second quarter. Truist Financial Corp now owns 4,238 shares of the bank’s stock valued at $354,000 after buying an additional 136 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of UMB Financial by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock valued at $4,496,000 after buying an additional 200 shares during the period. Finally, Great Lakes Advisors LLC boosted its position in shares of UMB Financial by 0.4% during the second quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank’s stock valued at $4,913,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 87.78% of the company’s stock.

Insiders Place Their Bets

In related news, Director Greg M. Graves bought 258 shares of the stock in a transaction on Friday, November 1st. The stock was bought at an average price of $109.29 per share, for a total transaction of $28,196.82. Following the completion of the acquisition, the director now directly owns 36,244 shares in the company, valued at approximately $3,961,106.76. This represents a 0.72 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John Pauls sold 849 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $110.42, for a total value of $93,746.58. Following the sale, the executive vice president now owns 6,483 shares of the company’s stock, valued at approximately $715,852.86. This represents a 11.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,449 shares of company stock worth $5,724,799 over the last 90 days. Company insiders own 8.85% of the company’s stock.

UMB Financial Stock Down 0.2 %

Shares of NASDAQ:UMBF opened at $121.25 on Tuesday. UMB Financial Co. has a 52-week low of $69.96 and a 52-week high of $128.73. The stock has a market cap of $5.92 billion, a P/E ratio of 15.16 and a beta of 0.78. The business’s 50 day moving average is $108.82 and its 200 day moving average is $96.06. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.05. The company had revenue of $716.44 million for the quarter, compared to analysts’ expectations 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 firm earned $2.02 earnings per share. Sell-side analysts predict that UMB Financial Co. will post 9.33 EPS for the current year.

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.32%. This is a positive change from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s dividend payout ratio is currently 19.50%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citigroup assumed coverage on UMB Financial in a research report on Thursday, October 10th. They set a “buy” rating and a $127.00 target price for the company. Barclays boosted their target price on UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler boosted their target price on UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company boosted their price target on UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $115.00.

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.