Bank of Montreal Can Takes $307,000 Position in UMB Financial Co. (NASDAQ:UMBF)

Bank of Montreal Can bought a new stake in UMB Financial Co. (NASDAQ:UMBF) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,815 shares of the bank’s stock, valued at approximately $307,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Missouri Trust & Investment Co bought a new position in shares of UMB Financial in the first quarter valued at approximately $29,000. Janiczek Wealth Management LLC increased its stake in UMB Financial by 2,670.6% in the second quarter. Janiczek Wealth Management LLC now owns 471 shares of the bank’s stock valued at $29,000 after acquiring an additional 454 shares during the last quarter. City State Bank increased its stake in UMB Financial by 166.7% in the second quarter. City State Bank now owns 800 shares of the bank’s stock valued at $49,000 after acquiring an additional 500 shares during the last quarter. Signaturefd LLC grew its stake in shares of UMB Financial by 63.4% during the first quarter. Signaturefd LLC now owns 928 shares of the bank’s stock valued at $54,000 after buying an additional 360 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of UMB Financial by 93.5% during the second quarter. Captrust Financial Advisors now owns 1,109 shares of the bank’s stock valued at $95,000 after buying an additional 536 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other UMB Financial news, CEO J Mariner Kemper sold 4,280 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $63.76, for a total value of $272,892.80. Following the sale, the chief executive officer now directly owns 1,903,888 shares in the company, valued at $121,391,898.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 10,649 shares of company stock valued at $695,499 over the last 90 days. 9.77% of the stock is currently owned by company insiders.

UMB Financial Stock Performance

NASDAQ:UMBF opened at $72.35 on Tuesday. UMB Financial Co. has a twelve month low of $50.68 and a twelve month high of $92.68. The company has a market capitalization of $3.51 billion, a P/E ratio of 9.29 and a beta of 0.79. The firm has a 50-day moving average price of $63.99 and a two-hundred day moving average price of $63.56. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.26. UMB Financial had a net margin of 16.96% and a return on equity of 13.86%. The company had revenue of $362.16 million for the quarter, compared to analyst estimates of $363.77 million. As a group, research analysts expect that UMB Financial Co. will post 7.62 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be issued a $0.39 dividend. The ex-dividend date is Friday, December 8th. This represents a $1.56 annualized dividend and a yield of 2.16%. This is an increase from UMB Financial’s previous quarterly dividend of $0.38. UMB Financial’s dividend payout ratio is presently 19.51%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on UMBF shares. Janney Montgomery Scott upgraded shares of UMB Financial from a “neutral” rating to a “buy” rating and set a $73.00 target price for the company in a report on Thursday, October 26th. Piper Sandler upgraded shares of UMB Financial from a “neutral” rating to an “overweight” rating and set a $74.00 price target on the stock in a research note on Wednesday, September 13th. Raymond James upgraded shares of UMB Financial from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $82.00 to $80.00 in a research note on Thursday, October 26th. Keefe, Bruyette & Woods upped their price target on shares of UMB Financial from $72.00 to $75.00 and gave the company a “market perform” rating in a report on Thursday, July 27th. Finally, Wells Fargo & Company lowered their price target on shares of UMB Financial from $75.00 to $65.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 4th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $73.40.

UMB Financial Profile

UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. 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.