First Trust Advisors LP Acquires 121,043 Shares of UMB Financial Corporation $UMBF

First Trust Advisors LP boosted its holdings in UMB Financial Corporation (NASDAQ:UMBF) by 43.0% during the second quarter, Holdings Channel.com reports. The firm owned 402,629 shares of the bank’s stock after acquiring an additional 121,043 shares during the quarter. First Trust Advisors LP’s holdings in UMB Financial were worth $42,340,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Brooklyn Investment Group boosted its position in shares of UMB Financial by 4,840.0% in the 1st quarter. Brooklyn Investment Group now owns 247 shares of the bank’s stock worth $25,000 after purchasing an additional 242 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in UMB Financial during the first quarter valued at $27,000. McIlrath & Eck LLC bought a new stake in UMB Financial in the first quarter worth $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of UMB Financial in the first quarter worth $35,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of UMB Financial by 143.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank’s stock valued at $37,000 after acquiring an additional 213 shares in the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at UMB Financial

In other news, CEO J Mariner Kemper sold 15,367 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $114.58, for a total transaction of $1,760,750.86. Following the completion of the sale, the chief executive officer owned 1,521,414 shares of the company’s stock, valued at $174,323,616.12. This represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Greg M. Graves acquired 264 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $106.41 per share, for a total transaction of $28,092.24. Following the acquisition, the director owned 38,411 shares of the company’s stock, valued at $4,087,314.51. The trade was a 0.69% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 17,127 shares of company stock worth $1,949,594 over the last 90 days. 5.45% of the stock is owned by company insiders.

UMB Financial Trading Down 0.6%

NASDAQ:UMBF opened at $114.24 on Tuesday. The company has a market cap of $8.68 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.15 and a beta of 0.78. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.07. The company has a 50 day simple moving average of $111.77 and a two-hundred day simple moving average of $111.21. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $126.14.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, October 28th. The bank reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.22. UMB Financial had a return on equity of 12.15% and a net margin of 16.01%.The firm had revenue of $678.34 million for the quarter, compared to the consensus estimate of $661.60 million. During the same period last year, the business posted $2.25 EPS. The company’s revenue for the quarter was up 67.0% on a year-over-year basis. Research analysts forecast that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Wednesday, December 10th will be paid a dividend of $0.43 per share. The ex-dividend date is Wednesday, December 10th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from UMB Financial’s previous quarterly dividend of $0.40. UMB Financial’s dividend payout ratio is presently 18.12%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on UMBF shares. Morgan Stanley upped their price target on shares of UMB Financial from $120.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $135.00 target price (down from $138.00) on shares of UMB Financial in a report on Thursday, October 30th. Barclays set a $155.00 price target on shares of UMB Financial and gave the company an “overweight” rating in a report on Wednesday, October 8th. Hovde Group started coverage on shares of UMB Financial in a report on Monday, October 6th. They issued an “outperform” rating for the company. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price objective (down from $148.00) on shares of UMB Financial in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.20.

UMB Financial 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.