Fifth Third Bancorp Boosts Holdings in UMB Financial Corporation (NASDAQ:UMBF)

Fifth Third Bancorp raised its holdings in UMB Financial Corporation (NASDAQ:UMBF) by 38.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 624 shares of the bank’s stock after purchasing an additional 172 shares during the quarter. Fifth Third Bancorp’s holdings in UMB Financial were worth $63,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in UMBF. Freestone Grove Partners LP purchased a new stake in shares of UMB Financial in the fourth quarter worth about $48,235,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of UMB Financial by 298.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 301,708 shares of the bank’s stock worth $34,051,000 after buying an additional 225,908 shares during the last quarter. Point72 Asset Management L.P. boosted its position in UMB Financial by 22,173.3% in the 4th quarter. Point72 Asset Management L.P. now owns 176,627 shares of the bank’s stock worth $19,934,000 after purchasing an additional 175,834 shares in the last quarter. Norges Bank purchased a new stake in UMB Financial in the 4th quarter worth approximately $15,835,000. Finally, Wellington Management Group LLP boosted its position in UMB Financial by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 2,021,285 shares of the bank’s stock worth $228,122,000 after purchasing an additional 102,104 shares in the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Stock Performance

UMBF opened at $100.66 on Friday. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.16 and a beta of 0.75. UMB Financial Corporation has a 52-week low of $79.50 and a 52-week high of $129.94. The firm’s fifty day simple moving average is $100.26 and its two-hundred day simple moving average is $106.94. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.37. The firm had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. UMB Financial’s quarterly revenue was up 41.4% compared to the same quarter last year. During the same period last year, the company posted $2.47 EPS. Equities analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.59%. UMB Financial’s payout ratio is currently 20.13%.

Analyst Ratings Changes

A number of brokerages recently issued reports on UMBF. Piper Sandler set a $135.00 price target on shares of UMB Financial and gave the stock an “overweight” rating in a report on Friday, June 13th. Wall Street Zen downgraded shares of UMB Financial from a “hold” rating to a “sell” rating in a report on Friday, May 2nd. Morgan Stanley lowered their target price on shares of UMB Financial from $156.00 to $146.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Royal Bank Of Canada lowered their target price on shares of UMB Financial from $128.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 1st. Finally, Truist Financial started coverage on UMB Financial in a research report on Tuesday, May 13th. They set a “buy” rating and a $120.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $122.88.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the transaction, the chief executive officer now owns 288,945 shares in the company, valued at approximately $29,417,490.45. This trade represents a 1.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.45% of the stock is currently owned by insiders.

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.