Summit Investment Advisors Inc. Has $2.05 Million Stake in UMB Financial Corporation $UMBF

Summit Investment Advisors Inc. lifted its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF) by 49.3% during the first quarter, HoldingsChannel reports. The firm owned 20,288 shares of the bank’s stock after acquiring an additional 6,701 shares during the quarter. Summit Investment Advisors Inc.’s holdings in UMB Financial were worth $2,051,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of UMBF. Vanguard Group Inc. increased its stake in UMB Financial by 54.0% during the 1st quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank’s stock worth $741,342,000 after purchasing an additional 2,570,283 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of UMB Financial by 78.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank’s stock valued at $273,029,000 after buying an additional 1,185,671 shares during the period. Wellington Management Group LLP increased its position in shares of UMB Financial by 19.1% during the first quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank’s stock worth $243,359,000 after acquiring an additional 385,830 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of UMB Financial by 7.7% during the first quarter. American Century Companies Inc. now owns 2,054,007 shares of the bank’s stock worth $207,660,000 after acquiring an additional 146,585 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in UMB Financial by 3.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,976,030 shares of the bank’s stock valued at $213,688,000 after acquiring an additional 63,147 shares in the last quarter. Institutional investors own 87.78% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robert Brian Beaird sold 1,205 shares of UMB Financial stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $116.17, for a total transaction of $139,984.85. Following the completion of the sale, the insider owned 10,147 shares of the company’s stock, valued at approximately $1,178,776.99. This trade represents a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Mariner Kemper sold 15,523 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $116.33, for a total transaction of $1,805,790.59. Following the transaction, the chief executive officer directly owned 1,536,781 shares in the company, valued at approximately $178,773,733.73. This represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have acquired 683 shares of company stock worth $75,961 and have sold 22,145 shares worth $2,578,583. Corporate insiders own 5.45% of the company’s stock.

UMB Financial Price Performance

NASDAQ:UMBF opened at $108.99 on Monday. 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 firm has a fifty day simple moving average of $116.45 and a 200 day simple moving average of $110.15. UMB Financial Corporation has a 1-year low of $82.00 and a 1-year high of $129.94. The stock has a market capitalization of $8.28 billion, a PE ratio of 12.34, a P/E/G ratio of 1.11 and a beta of 0.80.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, October 28th. The bank reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.22. The company had revenue of $678.34 million for the quarter, compared to analyst estimates of $661.60 million. UMB Financial had a net margin of 16.01% and a return on equity of 12.15%. UMB Financial’s revenue for the quarter was up 67.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.25 EPS. On average, research analysts expect that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Wednesday, December 10th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, December 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.40. UMB Financial’s payout ratio is presently 19.48%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on UMBF. Morgan Stanley increased their target price on UMB Financial from $120.00 to $154.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Wells Fargo & Company upped their price objective on UMB Financial from $125.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. TD Cowen dropped their target price on UMB Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Truist Financial boosted their target price on UMB Financial from $130.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price target (down from $148.00) on shares of UMB Financial in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.20.

About UMB Financial

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.