JNBA Financial Advisors Purchases Shares of 1,841 UMB Financial Corporation (NASDAQ:UMBF)

by · The Cerbat Gem

JNBA Financial Advisors acquired a new position in shares of UMB Financial Corporation (NASDAQ:UMBF – Free Report) in the 1st quarter, Holdings Channel.com reports. The fund acquired 1,841 shares of the bank’s stock, valued at approximately $186,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in UMBF. Ameritas Advisory Services LLC acquired a new position in UMB Financial during the first quarter worth approximately $223,000. New York State Teachers Retirement System boosted its stake in shares of UMB Financial by 2.8% during the 1st quarter. New York State Teachers Retirement System now owns 60,376 shares of the bank’s stock worth $6,104,000 after acquiring an additional 1,664 shares during the period. Amalgamated Bank raised its stake in UMB Financial by 47.1% in the 1st quarter. Amalgamated Bank now owns 29,949 shares of the bank’s stock valued at $3,028,000 after acquiring an additional 9,588 shares during the period. KBC Group NV raised its stake in UMB Financial by 68.5% in the 1st quarter. KBC Group NV now owns 3,376 shares of the bank’s stock valued at $341,000 after acquiring an additional 1,372 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in UMB Financial by 10.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,912,883 shares of the bank’s stock valued at $192,302,000 after purchasing an additional 174,088 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

UMB Financial Trading Up 2.8%

Shares of UMBF stock opened at $108.14 on Wednesday. UMB Financial Corporation has a fifty-two week low of $81.01 and a fifty-two week high of $129.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50 day simple moving average of $102.46 and a two-hundred day simple moving average of $105.70. The company has a market cap of $8.21 billion, a P/E ratio of 13.60, a PEG ratio of 1.23 and a beta of 0.74.

UMB Financial (NASDAQ:UMBF – Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.37. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The company had revenue of $563.84 million during the quarter, compared to analyst estimates of $555.79 million. During the same quarter in the previous year, the business posted $2.47 EPS. UMB Financial’s revenue for the quarter was up 41.4% compared to the same quarter last year. Research analysts forecast that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.48%. UMB Financial’s dividend payout ratio is currently 20.13%.

Insider Activity

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

Analyst Ratings Changes

Several brokerages recently commented on UMBF. Wells Fargo & Company lifted their target price on shares of UMB Financial from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Thursday, May 1st. Bank of America started coverage on shares of UMB Financial in a research report on Wednesday, April 16th. They set a “buy” rating and a $105.00 price objective for the company. Morgan Stanley decreased their target price on UMB Financial from $156.00 to $146.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Royal Bank Of Canada dropped their price target on UMB Financial from $128.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, May 1st. Finally, Truist Financial assumed coverage on UMB Financial in a research note on Tuesday, May 13th. They issued a “buy” rating and a $120.00 price target for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.88.

View Our Latest Stock Analysis on UMB Financial

UMB Financial Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding UMBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UMB Financial Corporation (NASDAQ:UMBF – Free Report).