Rice Hall James & Associates LLC Acquires 554 Shares of UMB Financial Corporation (NASDAQ:UMBF)
Rice Hall James & Associates LLC raised its position in shares of UMB Financial Corporation (NASDAQ:UMBF) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 261,632 shares of the bank’s stock after buying an additional 554 shares during the period. Rice Hall James & Associates LLC’s holdings in UMB Financial Corporation were worth $19,586,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in UMBF. Tyers Asset Management LLC increased its position in UMB Financial Corporation by 11.1% in the first quarter. Tyers Asset Management LLC now owns 1,440 shares of the bank’s stock worth $108,000 after buying an additional 144 shares in the last quarter. Invictus RG acquired a new position in UMB Financial Corporation during the first quarter worth $111,000. PNC Financial Services Group Inc. increased its position in UMB Financial Corporation by 21.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,890 shares of the bank’s stock worth $143,000 after buying an additional 330 shares in the last quarter. Elkfork Partners LLC increased its position in UMB Financial Corporation by 11.1% in the first quarter. Elkfork Partners LLC now owns 1,980 shares of the bank’s stock worth $149,000 after buying an additional 198 shares in the last quarter. Finally, Meadow Creek Investment Management LLC increased its position in UMB Financial Corporation by 11.1% in the first quarter. Meadow Creek Investment Management LLC now owns 2,520 shares of the bank’s stock worth $190,000 after buying an additional 252 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.
UMB Financial Corporation (NASDAQ UMBF) opened at 67.59 on Friday. UMB Financial Corporation has a one year low of $57.07 and a one year high of $81.55. The company has a market cap of $3.38 billion, a P/E ratio of 19.53 and a beta of 0.86. The company has a 50-day moving average of $72.49 and a 200 day moving average of $74.31.
UMB Financial Corporation (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, July 25th. The bank reported $0.90 EPS 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 net margin of 16.59% and a return on equity of 8.81%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. Equities research 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 permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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UMBF has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of UMB Financial Corporation from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a report on Wednesday, June 28th. Stephens set a $71.00 target price on shares of UMB Financial Corporation and gave the stock a “hold” rating in a report on Wednesday, July 26th. BidaskClub upgraded shares of UMB Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. FBR & Co reiterated a “hold” rating and issued a $82.00 target price (up previously from $80.00) on shares of UMB Financial Corporation in a report on Friday, April 21st. Finally, UBS AG upgraded shares of UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $78.20.
In other UMB Financial Corporation news, 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 completion of the sale, the chairman now owns 186,373 shares in the company, valued at $14,009,658.41. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alexander C. Kemper sold 2,500 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $74.65, for a total transaction of $186,625.00. Following the completion of the sale, the director now owns 11,309 shares of the company’s stock, valued at approximately $844,216.85. The disclosure for this sale can be found here. In the last quarter, insiders acquired 2,300 shares of company stock valued at $162,044 and sold 27,225 shares valued at $2,043,235. Company insiders own 10.09% of the company’s stock.
UMB Financial Corporation Company Profile
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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