SummerHaven Investment Management LLC Buys New Stake in UMB Financial Corporation $UMBF

SummerHaven Investment Management LLC bought a new position in UMB Financial Corporation (NASDAQ:UMBF) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 9,023 shares of the bank’s stock, valued at approximately $1,173,000.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of UMB Financial during the second quarter valued at about $1,458,386,000. Dimensional Fund Advisors LP boosted its holdings in UMB Financial by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank’s stock worth $328,200,000 after buying an additional 55,005 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of UMB Financial during the 2nd quarter worth $129,153,000. First Trust Advisors LP boosted its position in shares of UMB Financial by 12.0% in the 1st quarter. First Trust Advisors LP now owns 899,400 shares of the bank’s stock valued at $101,443,000 after purchasing an additional 96,149 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of UMB Financial in the second quarter worth approximately $78,410,000. Institutional investors own 87.78% of the company’s stock.

Insider Transactions at UMB Financial

In other UMB Financial news, CEO J. Kemper sold 15,062 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $148.55, for a total value of $2,237,460.10. Following the transaction, the chief executive officer directly owned 1,491,138 shares of the company’s stock, valued at $221,508,549.90. This represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Beaird sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $144.40, for a total value of $231,040.00. Following the completion of the sale, the insider owned 8,943 shares of the company’s stock, valued at approximately $1,291,369.20. This trade represents a 15.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 25,544 shares of company stock valued at $3,775,862. Corporate insiders own 5.33% of the company’s stock.

UMB Financial Price Performance

Shares of UMBF opened at $131.10 on Friday. UMB Financial Corporation has a 1 year low of $68.92 and a 1 year high of $144.36. The stock has a market cap of $9.96 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 0.61 and a beta of 0.82. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The stock’s 50-day moving average price is $138.62 and its two-hundred day moving average price is $134.90.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, topping the consensus estimate of $3.12 by $0.45. The firm had revenue of $778.00 million for the quarter, compared to the consensus estimate of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same period last year, the company posted $2.96 EPS. On average, equities analysts predict that UMB Financial Corporation will post 13.53 earnings per share for the current year.

UMB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. This is a boost from UMB Financial’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, September 10th. UMB Financial’s dividend payout ratio (DPR) is presently 16.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays reiterated an “overweight” rating and issued a $175.00 target price (up from $170.00) on shares of UMB Financial in a report on Monday, August 3rd. Piper Sandler reiterated an “overweight” rating and set a $181.00 price target (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. Weiss Ratings restated a “buy (b)” rating on shares of UMB Financial in a research note on Friday, July 24th. Royal Bank Of Canada dropped their price objective on shares of UMB Financial from $170.00 to $168.00 and set an “outperform” rating on the stock in a report on Friday, October 9th. Finally, Raymond James Financial started coverage on UMB Financial in a research report on Thursday, August 27th. They issued an “outperform” rating and a $165.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.86.

UMB Financial Company Profile

UMB Financial Corporation is a financial services holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to businesses, institutions, governments and individuals. The company traces its history to 1913 and has developed a regional banking franchise with additional capabilities serving customers nationwide.

UMB’s business activities include commercial and personal banking, treasury management, lending, deposit services and payment solutions.