UMB Financial Corporation (UMBF) Shares Bought by Russell Investments Group Ltd.
Russell Investments Group Ltd. boosted its position in UMB Financial Corporation (NASDAQ:UMBF) by 10.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 208,467 shares of the bank’s stock after buying an additional 19,477 shares during the period. Russell Investments Group Ltd.’s holdings in UMB Financial Corporation were worth $15,606,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its stake in shares of UMB Financial Corporation by 8.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 217,017 shares of the bank’s stock worth $16,344,000 after buying an additional 16,375 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of UMB Financial Corporation by 56.1% in the first quarter. Prudential Financial Inc. now owns 52,875 shares of the bank’s stock worth $3,982,000 after buying an additional 19,010 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of UMB Financial Corporation by 146.8% in the fourth quarter. Guggenheim Capital LLC now owns 14,832 shares of the bank’s stock worth $1,143,000 after buying an additional 8,822 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of UMB Financial Corporation by 3.4% in the first quarter. Great West Life Assurance Co. Can now owns 25,308 shares of the bank’s stock worth $1,904,000 after buying an additional 834 shares in the last quarter. Finally, Capstone Asset Management Co. raised its stake in shares of UMB Financial Corporation by 0.8% in the first quarter. Capstone Asset Management Co. now owns 3,833 shares of the bank’s stock worth $289,000 after buying an additional 30 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of UMB Financial Corporation (NASDAQ UMBF) traded down 0.80% during trading on Thursday, reaching $68.57. The company had a trading volume of 78,052 shares. The firm’s 50 day moving average price is $72.76 and its 200 day moving average price is $74.40. UMB Financial Corporation has a 12 month low of $56.29 and a 12 month high of $81.55. The firm has a market capitalization of $3.43 billion, a P/E ratio of 19.81 and a beta of 0.86.
UMB Financial Corporation (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by $0.02. The firm had revenue of $247.70 million during the quarter, compared to analyst estimates of $261.84 million. UMB Financial Corporation had a return on equity of 8.81% and a net margin of 16.59%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. Equities analysts predict that UMB Financial Corporation will post $3.65 EPS for the current year.
UMB Financial Corporation announced that its Board of Directors has approved a share repurchase plan on Tuesday, April 25th that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
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A number of analysts have recently issued reports on UMBF shares. Stephens reaffirmed a “hold” rating on shares of UMB Financial Corporation in a research note on Thursday, April 20th. Zacks Investment Research lowered UMB Financial Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, April 29th. FBR & Co lifted their price target on UMB Financial Corporation from $80.00 to $82.00 and gave the stock a “mkt perform” rating in a research note on Thursday, April 27th. Finally, BidaskClub raised UMB Financial Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. UMB Financial Corporation presently has an average rating of “Hold” and an average target price of $78.20.
In related news, Director Timothy R. Murphy bought 2,000 shares of the stock in a transaction on Friday, May 19th. The shares were purchased at an average price of $70.53 per share, for a total transaction of $141,060.00. Following the acquisition, the director now owns 2,549 shares in the company, valued at $179,780.97. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman J Mariner Kemper sold 21,600 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $75.17, for a total value of $1,623,672.00. Following the sale, the chairman now owns 186,373 shares in the company, valued at approximately $14,009,658.41. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 2,300 shares of company stock worth $162,044 and sold 27,225 shares worth $2,043,235. Corporate insiders own 10.09% of the company’s stock.
About UMB Financial Corporation
UMB Financial Corporation is a diversified financial holding company. The Company supplies banking services, institutional investment management, asset servicing and payment solutions to its customers in the United States and around the globe. The Company’s segments include Bank, which provides a range of banking services to commercial, retail, government and correspondent bank customers through the Company’s branches, call center, Internet banking and automated teller machine network; Institutional Investment Management, which provides equity and fixed income investment strategies in the intermediary and institutional markets, and Asset Servicing, which provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts.
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