Prudential Financial Inc. Grows Position in UMB Financial Corporation $UMBF

Prudential Financial Inc. lifted its position in shares of UMB Financial Corporation (NASDAQ:UMBF) by 283.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,761 shares of the bank’s stock after purchasing an additional 44,897 shares during the quarter. Prudential Financial Inc. owned about 0.08% of UMB Financial worth $6,390,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group boosted its holdings in shares of UMB Financial by 4,840.0% during the 1st quarter. Brooklyn Investment Group now owns 247 shares of the bank’s stock valued at $25,000 after buying an additional 242 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in UMB Financial during the 1st quarter valued at about $27,000. McIlrath & Eck LLC purchased a new position in UMB Financial during the 1st quarter valued at about $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in UMB Financial during the first quarter worth about $35,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in UMB Financial by 143.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank’s stock worth $37,000 after purchasing an additional 213 shares during the period. Institutional investors own 87.78% of the company’s stock.

Analyst Ratings Changes

UMBF has been the subject of several recent research reports. Cowen started coverage on shares of UMB Financial in a report on Wednesday, September 24th. They set a “buy” rating for the company. Wells Fargo & Company lifted their price objective on UMB Financial from $125.00 to $130.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. Royal Bank Of Canada raised UMB Financial from a “sector perform” rating to an “outperform” rating and set a $128.00 target price on the stock in a report on Thursday, November 6th. TD Cowen reduced their price target on UMB Financial from $151.00 to $149.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $135.00 price target (down previously from $138.00) on shares of UMB Financial in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, UMB Financial currently has an average rating of “Moderate Buy” and an average target price of $137.20.

UMB Financial Stock Performance

Shares of UMBF opened at $111.08 on Friday. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $128.80. The business’s fifty day simple moving average is $112.39 and its two-hundred day simple moving average is $110.73. The company has a current ratio of 0.75, a quick ratio of 0.77 and a debt-to-equity ratio of 0.07. The company has a market cap of $8.44 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.11 and a beta of 0.80.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, October 28th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.22. UMB Financial had a return on equity of 12.15% and a net margin of 16.01%.The firm had revenue of $678.34 million for the quarter, compared to the consensus estimate of $661.60 million. During the same period in the prior year, the company posted $2.25 earnings per share. The company’s quarterly revenue was up 67.0% on a year-over-year basis. Research analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Wednesday, December 10th will be paid a $0.43 dividend. This is a boost from UMB Financial’s previous quarterly dividend of $0.40. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Wednesday, December 10th. UMB Financial’s dividend payout ratio (DPR) is presently 19.48%.

Insider Activity at UMB Financial

In related news, insider Nikki Farentino Newton sold 1,300 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $106.09, for a total transaction of $137,917.00. Following the transaction, the insider owned 13,667 shares in the company, valued at $1,449,932.03. This represents a 8.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Charles Gallagher sold 460 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $110.71, for a total transaction of $50,926.60. Following the completion of the sale, the director owned 12,090 shares in the company, valued at $1,338,483.90. This represents a 3.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders bought 683 shares of company stock valued at $75,961 and sold 3,127 shares valued at $353,676. Insiders own 5.45% of the company’s stock.

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.