Bank of Nova Scotia Invests $305,000 in UMB Financial Co. (NASDAQ:UMBF)

Bank of Nova Scotia purchased a new position in UMB Financial Co. (NASDAQ:UMBF – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,649 shares of the bank’s stock, valued at approximately $305,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position in UMB Financial by 81.2% during the first quarter. State Street Corp now owns 3,708,145 shares of the bank’s stock valued at $361,563,000 after purchasing an additional 1,661,449 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in UMB Financial by 104.4% during the second quarter. Goldman Sachs Group Inc. now owns 462,357 shares of the bank’s stock valued at $39,808,000 after purchasing an additional 236,176 shares in the last quarter. Vanguard Group Inc. lifted its position in UMB Financial by 4.2% during the third quarter. Vanguard Group Inc. now owns 4,356,268 shares of the bank’s stock valued at $367,190,000 after purchasing an additional 174,204 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in UMB Financial by 7.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,809,239 shares of the bank’s stock valued at $151,108,000 after purchasing an additional 129,668 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in UMB Financial by 11,801.5% during the third quarter. Captrust Financial Advisors now owns 122,109 shares of the bank’s stock valued at $10,293,000 after purchasing an additional 121,083 shares in the last quarter. 87.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other UMB Financial news, CEO J Mariner Kemper sold 1,204 shares of UMB Financial stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $88.29, for a total value of $106,301.16. Following the completion of the transaction, the chief executive officer now directly owns 1,913,888 shares of the company’s stock, valued at approximately $168,977,171.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Janine Davidson purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The stock was purchased at an average cost of $53.56 per share, with a total value of $26,780.00. Following the purchase, the director now owns 2,572 shares in the company, valued at $137,756.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J Mariner Kemper sold 1,204 shares of UMB Financial stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $88.29, for a total transaction of $106,301.16. Following the transaction, the chief executive officer now directly owns 1,913,888 shares of the company’s stock, valued at $168,977,171.52. The disclosure for this sale can be found here. Corporate insiders own 9.77% of the company’s stock.

UMB Financial Stock Down 1.6 %

NASDAQ UMBF opened at $59.33 on Friday. The stock has a 50 day moving average price of $58.64 and a 200-day moving average price of $75.63. UMB Financial Co. has a one year low of $50.68 and a one year high of $99.19. The company has a market capitalization of $2.88 billion, a P/E ratio of 6.90 and a beta of 0.77. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.69 and a current ratio of 0.69.

UMB Financial (NASDAQ:UMBF – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The bank reported $1.91 EPS for the quarter, hitting analysts’ consensus estimates of $1.91. UMB Financial had a net margin of 22.22% and a return on equity of 15.73%. The business had revenue of $371.90 million during the quarter, compared to analysts’ expectations of $371.44 million. During the same period last year, the company posted $2.17 EPS. The business’s revenue was up 11.3% on a year-over-year basis. As a group, equities analysts predict that UMB Financial Co. will post 7.64 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Monday, June 12th will be paid a $0.38 dividend. The ex-dividend date is Friday, June 9th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.56%. UMB Financial’s payout ratio is currently 17.67%.

Analyst Ratings Changes

Several research firms recently weighed in on UMBF. Piper Sandler lifted their target price on UMB Financial from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, January 26th. StockNews.com assumed coverage on UMB Financial in a report on Thursday, May 18th. They set a “sell” rating on the stock. Janney Montgomery Scott cut UMB Financial from a “buy” rating to a “neutral” rating and set a $94.00 price target on the stock. in a report on Thursday, January 26th. They noted that the move was a valuation call. Raymond James raised their price target on UMB Financial from $73.00 to $77.00 in a report on Thursday, April 27th. Finally, Wells Fargo & Company decreased their price target on UMB Financial from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $83.80.

UMB Financial Profile

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UMB Financial Corp. engages in the provision of bank and asset services. It operates through the following segments: Commercial Banking, Institutional Banking, and Personal Banking. The Commercial Banking segment serves the commercial lending and leasing, capital markets, and treasury management needs of the company’s mid-market businesses and governmental entities by offering various products and services.