Envestnet Asset Management Inc. Raises Stock Holdings in UMB Financial Corporation (NASDAQ:UMBF)

Envestnet Asset Management Inc. raised its holdings in UMB Financial Corporation (NASDAQ:UMBF) by 70.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 188,043 shares of the bank’s stock after buying an additional 77,998 shares during the quarter. Envestnet Asset Management Inc. owned about 0.25% of UMB Financial worth $19,011,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of UMBF. Rothschild Investment LLC raised its stake in shares of UMB Financial by 442.0% in the first quarter. Rothschild Investment LLC now owns 271 shares of the bank’s stock worth $27,000 after purchasing an additional 221 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of UMB Financial by 703.2% in the first quarter. Versant Capital Management Inc now owns 498 shares of the bank’s stock worth $50,000 after purchasing an additional 436 shares during the last quarter. Covestor Ltd grew its holdings in UMB Financial by 28.8% during the fourth quarter. Covestor Ltd now owns 555 shares of the bank’s stock worth $63,000 after acquiring an additional 124 shares during the period. Fifth Third Bancorp grew its holdings in UMB Financial by 38.1% during the first quarter. Fifth Third Bancorp now owns 624 shares of the bank’s stock worth $63,000 after acquiring an additional 172 shares during the period. Finally, Marquette Asset Management LLC acquired a new stake in UMB Financial during the first quarter worth about $82,000. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Piper Sandler set a $135.00 target price on UMB Financial and gave the stock an “overweight” rating in a report on Friday, June 13th. Truist Financial set a $128.00 target price on UMB Financial and gave the stock a “buy” rating in a report on Friday, July 11th. Royal Bank Of Canada dropped their target price on UMB Financial from $128.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, May 1st. Barclays raised their target price on UMB Financial from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Finally, Bank of America assumed coverage on UMB Financial in a report on Wednesday, April 16th. They set a “buy” rating and a $105.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $127.00.

Insider Buying and Selling at UMB Financial

In other news, CEO J Mariner Kemper sold 5,412 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the transaction, the chief executive officer owned 288,945 shares in the company, valued at $29,417,490.45. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.45% of the stock is currently owned by company insiders.

UMB Financial Stock Up 1.5%

Shares of UMBF opened at $108.49 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $129.94. The stock’s 50 day moving average is $103.71 and its two-hundred day moving average is $104.54. The firm has a market cap of $8.24 billion, a P/E ratio of 13.65, a PEG ratio of 1.42 and a beta of 0.74.

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

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were given a $0.40 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.47%. UMB Financial’s dividend payout ratio (DPR) is presently 20.13%.

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.