Fifth Third Bancorp Boosts Stock Holdings in UMB Financial Corporation (NASDAQ:UMBF)

Fifth Third Bancorp raised its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF) by 38.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 624 shares of the bank’s stock after purchasing an additional 172 shares during the period. Fifth Third Bancorp’s holdings in UMB Financial were worth $63,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Rhumbline Advisers increased its holdings in UMB Financial by 0.3% during the fourth quarter. Rhumbline Advisers now owns 157,642 shares of the bank’s stock valued at $17,791,000 after buying an additional 510 shares during the period. Truist Financial Corp increased its holdings in shares of UMB Financial by 0.4% in the 4th quarter. Truist Financial Corp now owns 19,565 shares of the bank’s stock valued at $2,208,000 after acquiring an additional 83 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of UMB Financial in the 4th quarter valued at $96,000. Handelsbanken Fonder AB increased its holdings in shares of UMB Financial by 21.0% in the 4th quarter. Handelsbanken Fonder AB now owns 10,930 shares of the bank’s stock valued at $1,234,000 after acquiring an additional 1,900 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of UMB Financial in the 4th quarter valued at $748,000. Hedge funds and other institutional investors own 87.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on UMBF shares. Barclays cut their target price on UMB Financial from $139.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Bank of America began coverage on UMB Financial in a research note on Wednesday, April 16th. They issued a “buy” rating and a $105.00 target price on the stock. Wells Fargo & Company lifted their price objective on shares of UMB Financial from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 1st. Wall Street Zen downgraded shares of UMB Financial from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley cut their price objective on shares of UMB Financial from $156.00 to $146.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, UMB Financial presently has an average rating of “Moderate Buy” and an average target price of $122.88.

Insider Buying and Selling at UMB Financial

In other UMB Financial 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 transaction of $550,995.72. Following the sale, the chief executive officer now owns 288,945 shares in the company, valued at approximately $29,417,490.45. The trade was a 1.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.45% of the company’s stock.

UMB Financial Stock Up 1.2%

NASDAQ:UMBF opened at $100.66 on Friday. The company has a market cap of $7.64 billion, a PE ratio of 12.66, a P/E/G ratio of 1.16 and a beta of 0.75. UMB Financial Corporation has a twelve month low of $79.50 and a twelve month high of $129.94. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $100.26 and its two-hundred day moving average is $106.94.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.37. The company had revenue of $563.84 million for the quarter, compared to the consensus estimate of $555.79 million. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. UMB Financial’s revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 EPS. Analysts anticipate that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Tuesday, June 10th. UMB Financial’s dividend payout ratio (DPR) is presently 20.13%.

UMB Financial 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.