Covestor Ltd Boosts Stock Holdings in UMB Financial Co. (NASDAQ:UMBF)

Covestor Ltd boosted its stake in shares of UMB Financial Co. (NASDAQ:UMBF) by 31.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 431 shares of the bank’s stock after purchasing an additional 102 shares during the period. Covestor Ltd’s holdings in UMB Financial were worth $45,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of UMBF. Janney Montgomery Scott LLC purchased a new position in UMB Financial during the first quarter worth approximately $252,000. SG Americas Securities LLC raised its stake in shares of UMB Financial by 61.2% in the 1st quarter. SG Americas Securities LLC now owns 4,526 shares of the bank’s stock valued at $394,000 after acquiring an additional 1,719 shares during the period. Russell Investments Group Ltd. raised its stake in shares of UMB Financial by 1.9% in the 1st quarter. Russell Investments Group Ltd. now owns 30,016 shares of the bank’s stock valued at $2,611,000 after acquiring an additional 567 shares during the period. US Bancorp DE raised its stake in shares of UMB Financial by 5.0% in the 1st quarter. US Bancorp DE now owns 12,980 shares of the bank’s stock valued at $1,129,000 after acquiring an additional 622 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of UMB Financial by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock valued at $409,321,000 after acquiring an additional 394,578 shares during the period. Hedge funds and other institutional investors own 87.78% of the company’s stock.

UMB Financial Stock Performance

UMB Financial stock opened at $121.49 on Friday. UMB Financial Co. has a 12-month low of $69.96 and a 12-month high of $128.73. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 15.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s fifty day moving average price is $108.38 and its 200 day moving average price is $95.53.

UMB Financial (NASDAQ:UMBF) last posted 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 during 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 posted $2.02 EPS. On average, research analysts forecast that UMB Financial Co. will post 9.33 EPS for the current fiscal 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, December 10th. UMB Financial’s payout ratio is 19.50%.

Analyst Upgrades and Downgrades

UMBF has been the topic of a number of research reports. Barclays raised their target price on shares of UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Wells Fargo & Company raised 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. Piper Sandler raised their target price on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Citigroup started coverage on shares of UMB Financial in a research note on Thursday, October 10th. They set a “buy” rating and a $127.00 price target on the stock. Two 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Insider Buying and Selling

In other news, Director Greg M. Graves bought 258 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $109.29 per share, with a total value of $28,196.82. Following the completion of the transaction, the director now directly owns 36,244 shares in the company, valued at approximately $3,961,106.76. The trade was a 0.72 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO J Mariner Kemper sold 24,300 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $108.83, for a total transaction of $2,644,569.00. Following the transaction, the chief executive officer now directly owns 1,576,604 shares in the company, valued at $171,581,813.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,449 shares of company stock worth $5,724,799 in the last ninety days. 8.85% of the stock is currently owned by corporate insiders.

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.