PNC Financial Services Group Inc. Boosts Stake in UMB Financial Corporation (NASDAQ:UMBF)

PNC Financial Services Group Inc. raised its position in UMB Financial Corporation (NASDAQ:UMBF) by 9.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,064 shares of the bank’s stock after buying an additional 714 shares during the period. PNC Financial Services Group Inc.’s holdings in UMB Financial were worth $815,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UMBF. LPL Financial LLC boosted its position in UMB Financial by 171.6% in the 4th quarter. LPL Financial LLC now owns 20,329 shares of the bank’s stock valued at $2,294,000 after buying an additional 12,845 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of UMB Financial by 16.4% during the fourth quarter. Wells Fargo & Company MN now owns 51,929 shares of the bank’s stock worth $5,861,000 after purchasing an additional 7,318 shares during the last quarter. Bank of Montreal Can lifted its position in shares of UMB Financial by 16.5% during the fourth quarter. Bank of Montreal Can now owns 6,270 shares of the bank’s stock worth $708,000 after purchasing an additional 886 shares during the last quarter. Invesco Ltd. lifted its position in shares of UMB Financial by 31.4% during the fourth quarter. Invesco Ltd. now owns 309,980 shares of the bank’s stock worth $34,984,000 after purchasing an additional 74,038 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of UMB Financial by 28.8% during the fourth quarter. Covestor Ltd now owns 555 shares of the bank’s stock worth $63,000 after purchasing an additional 124 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on UMBF. Bank of America began coverage on shares of UMB Financial in a research report on Wednesday, April 16th. They set a “buy” rating and a $105.00 price target on the stock. Wells Fargo & Company increased their price target on shares of UMB Financial from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, August 1st. Piper Sandler increased their price target on shares of UMB Financial from $135.00 to $148.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Barclays increased their price target on shares of UMB Financial from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Wall Street Zen cut shares of UMB Financial from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, UMB Financial has an average rating of “Moderate Buy” and an average target price of $132.11.

Insider Buying and Selling

In related news, CEO J Mariner Kemper sold 5,412 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $101.81, for a total transaction 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg M. Graves bought 261 shares of UMB Financial stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average price of $107.58 per share, with a total value of $28,078.38. Following the completion of the acquisition, the director directly owned 37,800 shares of the company’s stock, valued at $4,066,524. This represents a 0.70% increase in their position. The disclosure for this purchase can be found here. 5.45% of the stock is owned by company insiders.

UMB Financial Price Performance

Shares of NASDAQ:UMBF opened at $109.80 on Tuesday. The firm’s 50 day moving average is $105.59 and its two-hundred day moving average is $103.57. UMB Financial Corporation has a 52 week low of $82.00 and a 52 week high of $129.94. The firm has a market capitalization of $8.34 billion, a P/E ratio of 12.62, a PEG ratio of 1.25 and a beta of 0.77. 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 (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 EPS for the quarter, beating the consensus estimate of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The company had revenue of $689.21 million for the quarter, compared to analyst estimates of $638.25 million. During the same quarter last year, the business earned $2.16 earnings per share. UMB Financial’s revenue was up 76.7% compared to the same quarter last year. Analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Wednesday, September 10th. UMB Financial’s dividend payout ratio (DPR) is currently 18.39%.

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.