Fifth Third Bancorp Acquires 29,431 Shares of UMB Financial Corporation $UMBF

Fifth Third Bancorp grew its holdings in UMB Financial Corporation (NASDAQ:UMBF) by 5,109.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,007 shares of the bank’s stock after purchasing an additional 29,431 shares during the quarter. Fifth Third Bancorp’s holdings in UMB Financial were worth $3,384,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UMBF. MBM Wealth Consultants LLC acquired a new stake in shares of UMB Financial in the first quarter valued at $26,000. Kemnay Advisory Services Inc. acquired a new position in UMB Financial during the 4th quarter worth about $27,000. Hilton Head Capital Partners LLC bought a new stake in UMB Financial during the 4th quarter worth about $34,000. Torren Management LLC bought a new stake in UMB Financial during the 4th quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC increased its position in UMB Financial by 193.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 405 shares of the bank’s stock valued at $43,000 after acquiring an additional 267 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on UMBF shares. Royal Bank Of Canada boosted their target price on shares of UMB Financial from $138.00 to $142.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Stephens assumed coverage on shares of UMB Financial in a research note on Tuesday, July 14th. They set an “overweight” rating and a $167.00 price target on the stock. Piper Sandler raised their price target on shares of UMB Financial from $155.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Citigroup boosted their price objective on shares of UMB Financial from $138.00 to $144.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Finally, Morgan Stanley upped their price objective on UMB Financial from $143.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, UMB Financial currently has a consensus rating of “Moderate Buy” and an average target price of $152.17.

UMB Financial Stock Performance

UMBF opened at $145.99 on Monday. The firm’s fifty day moving average is $135.70 and its two-hundred day moving average is $126.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $11.09 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 0.81 and a beta of 0.77. UMB Financial Corporation has a twelve month low of $103.38 and a twelve month high of $148.31.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.59. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The business had revenue of $739.16 million for the quarter, compared to analysts’ expectations of $701.79 million. During the same quarter in the previous year, the business posted $2.58 EPS. UMB Financial’s revenue for the quarter was up 31.1% on a year-over-year basis. Equities research analysts anticipate that UMB Financial Corporation will post 12.85 EPS for the current year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th were issued a dividend of $0.43 per share. The ex-dividend date was Wednesday, June 10th. This represents a $1.72 annualized dividend and a yield of 1.2%. UMB Financial’s dividend payout ratio is presently 15.26%.

Insiders Place Their Bets

In other news, Director Kevin Charles Gallagher sold 381 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total value of $50,627.28. Following the completion of the sale, the director owned 12,223 shares of the company’s stock, valued at approximately $1,624,192.24. This represents a 3.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President James D. Rine sold 8,246 shares of UMB Financial stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the completion of the transaction, the president directly owned 61,446 shares of the company’s stock, valued at approximately $8,147,125.14. This trade represents a 11.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.33% of the stock is currently owned by company insiders.

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.