Diversify Advisory Services LLC Takes Position in UMB Financial Corporation $UMBF

Diversify Advisory Services LLC acquired a new stake in UMB Financial Corporation (NASDAQ:UMBF) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,149 shares of the bank’s stock, valued at approximately $1,995,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in UMB Financial during the 2nd quarter worth about $1,458,386,000. Alliancebernstein L.P. lifted its position in shares of UMB Financial by 636.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock worth $156,543,000 after purchasing an additional 1,286,543 shares during the period. Wellington Management Group LLP boosted its stake in shares of UMB Financial by 32.0% during the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock valued at $366,743,000 after purchasing an additional 751,525 shares in the last quarter. Norges Bank bought a new position in shares of UMB Financial during the fourth quarter valued at approximately $85,885,000. Finally, Bank of New York Mellon Corp purchased a new position in UMB Financial during the second quarter valued at approximately $78,410,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, insider Robert Brian Beaird sold 1,600 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $144.40, for a total transaction of $231,040.00. Following the completion of the transaction, the insider directly owned 8,943 shares in the company, valued at approximately $1,291,369.20. This represents a 15.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Susan G. Murphy sold 1,377 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $145.55, for a total transaction of $200,422.35. Following the transaction, the director directly owned 10,635 shares in the company, valued at approximately $1,547,924.25. The trade was a 11.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 34,171 shares of company stock worth $4,919,826. 5.33% of the stock is currently owned by corporate insiders.

UMB Financial Price Performance

Shares of UMBF stock traded down $0.85 during mid-day trading on Friday, hitting $145.01. 100,099 shares of the stock were exchanged, compared to its average volume of 624,063. UMB Financial Corporation has a 52-week low of $103.38 and a 52-week high of $153.32. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. The company has a market cap of $11.01 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.72 and a beta of 0.77. The firm has a fifty day moving average of $143.63 and a 200 day moving average of $130.28.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.45. The company had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $727.63 million. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.During the same quarter in the prior year, the firm posted $2.96 EPS. Research analysts anticipate that UMB Financial Corporation will post 13.48 earnings per share for the current year.

UMB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from UMB Financial’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, September 10th. UMB Financial’s dividend payout ratio (DPR) is presently 14.32%.

Analysts Set New Price Targets

Several analysts have commented on UMBF shares. Morgan Stanley increased their price target on shares of UMB Financial from $143.00 to $159.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. TD Cowen reissued a “buy” rating and set a $166.00 price objective (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. Stephens assumed coverage on shares of UMB Financial in a research report on Tuesday, July 14th. They set an “overweight” rating and a $167.00 price target for the company. Piper Sandler restated an “overweight” rating and set a $181.00 price objective (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $162.00 price objective (up from $144.00) on shares of UMB Financial in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $165.00.

UMB Financial Company Profile

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.