Jupiter Topco LLC Invests $34 Million in UMB Financial Corporation $UMBF

Jupiter Topco LLC bought a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 238,162 shares of the bank’s stock, valued at approximately $34,002,000. Jupiter Topco LLC owned about 0.31% of UMB Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of UMBF. Mercer Global Advisors Inc. ADV raised its holdings in UMB Financial by 4.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,563 shares of the bank’s stock worth $295,000 after buying an additional 102 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in UMB Financial by 3.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,910 shares of the bank’s stock valued at $335,000 after buying an additional 108 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of UMB Financial by 1.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 6,424 shares of the bank’s stock worth $739,000 after buying an additional 112 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in shares of UMB Financial by 1.7% in the first quarter. First Citizens Bank & Trust Co. now owns 7,272 shares of the bank’s stock worth $820,000 after buying an additional 125 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in shares of UMB Financial by 3.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,908 shares of the bank’s stock worth $450,000 after acquiring an additional 129 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

Insider Activity at UMB Financial

In other news, Director Kevin Charles Gallagher sold 360 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $145.13, for a total value of $52,246.80. Following the transaction, the director directly owned 11,863 shares of the company’s stock, valued at approximately $1,721,677.19. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nikki Farentino Newton sold 2,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total value of $297,200.00. Following the sale, the insider owned 11,981 shares of the company’s stock, valued at approximately $1,780,376.60. This represents a 14.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 34,171 shares of company stock worth $4,919,826. 5.33% of the stock is currently owned by company insiders.

UMB Financial Trading Up 0.0%

NASDAQ:UMBF opened at $144.59 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76. UMB Financial Corporation has a fifty-two week low of $103.38 and a fifty-two week high of $153.32. The stock’s 50-day moving average is $144.86 and its two-hundred day moving average is $130.85. The stock has a market cap of $10.98 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 0.71 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.12 by $0.45. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. The business had revenue of $778.00 million during the quarter, compared to analyst estimates of $727.63 million. During the same period in the prior year, the firm earned $2.96 earnings per share. As a group, equities research analysts forecast that UMB Financial Corporation will post 13.48 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, September 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. UMB Financial’s payout ratio is currently 14.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of UMB Financial in a report on Friday, July 24th. JPMorgan Chase & Co. assumed coverage on shares of UMB Financial in a research note on Thursday, August 20th. They issued an “overweight” rating and a $180.00 price objective for the company. Stephens began coverage on shares of UMB Financial in a research report on Tuesday, July 14th. They set an “overweight” rating and a $167.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and set a $181.00 target price (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Finally, Raymond James Financial initiated coverage on shares of UMB Financial in a research note on Thursday. They set an “outperform” rating and a $165.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $166.54.

UMB Financial Profile

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.