Oppenheimer & Co. Inc. Invests $1.41 Million in UMB Financial Corporation (NASDAQ:UMBF)

Oppenheimer & Co. Inc. acquired a new position in shares of UMB Financial Corporation (NASDAQ:UMBF) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,968 shares of the bank’s stock, valued at approximately $1,412,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of UMBF. Rothschild Investment LLC raised its stake in UMB Financial by 442.0% during the first quarter. Rothschild Investment LLC now owns 271 shares of the bank’s stock worth $27,000 after acquiring an additional 221 shares during the period. Versant Capital Management Inc raised its stake in UMB Financial by 703.2% during the first quarter. Versant Capital Management Inc now owns 498 shares of the bank’s stock worth $50,000 after acquiring an additional 436 shares during the period. Covestor Ltd raised its stake in UMB Financial by 28.8% during the fourth quarter. Covestor Ltd now owns 555 shares of the bank’s stock worth $63,000 after acquiring an additional 124 shares during the period. Fifth Third Bancorp raised its stake in UMB Financial by 38.1% during the first quarter. Fifth Third Bancorp now owns 624 shares of the bank’s stock worth $63,000 after acquiring an additional 172 shares during the period. Finally, Marquette Asset Management LLC acquired a new stake in UMB Financial during the first quarter worth about $82,000. Institutional investors and hedge funds own 87.78% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Bank of America started coverage on shares of UMB Financial in a research note on Wednesday, April 16th. They set a “buy” rating and a $105.00 price objective on the stock. Morgan Stanley dropped their price target 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. Truist Financial started coverage on shares of UMB Financial in a research note on Tuesday, May 13th. They issued a “buy” rating and a $120.00 price target on the stock. Royal Bank Of Canada dropped their price target 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, Piper Sandler set a $135.00 price target on shares of UMB Financial and gave the company an “overweight” rating in a research note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued 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 $122.88.

Insider Buying and Selling

In related news, CEO J Mariner Kemper sold 5,412 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $101.81, for a total transaction of $550,995.72. Following the completion of the sale, the chief executive officer now directly owns 288,945 shares in the company, valued at approximately $29,417,490.45. This trade represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.45% of the stock is currently owned by insiders.

UMB Financial Trading Down 0.1%

UMB Financial stock opened at $106.02 on Friday. The firm has a 50 day simple moving average of $101.59 and a 200-day simple moving average of $106.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $8.05 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.24 and a beta of 0.75. UMB Financial Corporation has a 12-month low of $81.01 and a 12-month high of $129.94.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.37. The business had revenue of $563.84 million during the quarter, compared to analysts’ expectations of $555.79 million. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The business’s revenue was up 41.4% on a year-over-year basis. During the same period last year, the firm posted $2.47 earnings per share. As a group, equities research analysts expect that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial’s payout ratio is 20.13%.

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.