Profund Advisors LLC Increases Position in UMB Financial Co. (NASDAQ:UMBF)

Profund Advisors LLC lifted its position in UMB Financial Co. (NASDAQ:UMBF) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,493 shares of the bank’s stock after acquiring an additional 220 shares during the period. Profund Advisors LLC’s holdings in UMB Financial were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new position in shares of UMB Financial in the fourth quarter valued at about $28,000. 1620 Investment Advisors Inc. purchased a new stake in UMB Financial in the second quarter valued at approximately $128,000. CWM LLC increased its holdings in UMB Financial by 7.1% in the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after buying an additional 129 shares during the period. Janney Montgomery Scott LLC acquired a new position in UMB Financial in the 1st quarter worth approximately $252,000. Finally, O Shaughnessy Asset Management LLC raised its position in UMB Financial by 30.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,451 shares of the bank’s stock worth $300,000 after buying an additional 809 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on UMBF. Keefe, Bruyette & Woods raised shares of UMB Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $93.00 to $98.00 in a report on Friday, May 31st. Piper Sandler upped their price target on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Barclays lifted their price objective on UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company upped their target price on UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.33.

Insider Buying and Selling at UMB Financial

In other news, insider Robert Brian Beaird sold 698 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $93.19, for a total transaction of $65,046.62. Following the completion of the sale, the insider now owns 6,682 shares of the company’s stock, valued at $622,695.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other UMB Financial news, CEO J Mariner Kemper sold 8,450 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $83.33, for a total value of $704,138.50. Following the transaction, the chief executive officer now owns 1,681,904 shares in the company, valued at approximately $140,153,060.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Brian Beaird sold 698 shares of UMB Financial stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $93.19, for a total transaction of $65,046.62. Following the sale, the insider now directly owns 6,682 shares in the company, valued at approximately $622,695.58. The disclosure for this sale can be found here. Insiders have sold a total of 34,846 shares of company stock valued at $3,135,439 over the last ninety days. Corporate insiders own 8.85% of the company’s stock.

UMB Financial Trading Up 0.1 %

UMBF stock opened at $104.10 on Friday. UMB Financial Co. has a 52-week low of $57.91 and a 52-week high of $109.42. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.12. The firm has a market cap of $5.07 billion, a P/E ratio of 13.82 and a beta of 0.78. The company’s 50-day simple moving average is $99.85 and its 200-day simple moving average is $88.71.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, July 30th. The bank reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.15. The company had revenue of $390.03 million for the quarter, compared to the consensus estimate of $384.96 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. UMB Financial’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.93 earnings per share. As a group, equities analysts forecast that UMB Financial Co. will post 8.98 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Tuesday, September 10th. UMB Financial’s dividend payout ratio is presently 20.72%.

UMB Financial Company 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.