ProShare Advisors LLC Grows Position in UMB Financial Corporation (UMBF)
ProShare Advisors LLC increased its stake in UMB Financial Corporation (NASDAQ:UMBF) by 6.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,695 shares of the bank’s stock after buying an additional 14,136 shares during the period. ProShare Advisors LLC owned 0.48% of UMB Financial Corporation worth $17,569,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Tyers Asset Management LLC raised its stake 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 bought a new position in UMB Financial Corporation in the first quarter worth about $111,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in UMB Financial Corporation by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,604 shares of the bank’s stock worth $120,000 after purchasing an additional 130 shares during the period. PNC Financial Services Group Inc. grew its holdings 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 purchasing an additional 330 shares during the period. Finally, Elkfork Partners LLC grew its holdings 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 purchasing an additional 198 shares during the period. 82.45% of the stock is owned by institutional investors.
UMBF has been the topic of a number of recent research reports. UBS AG upgraded shares of UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of UMB Financial Corporation from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a report on Wednesday, June 28th. Raymond James Financial, Inc. upgraded shares of UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. Piper Jaffray Companies set a $74.00 price objective on shares of UMB Financial Corporation and gave the stock a “hold” rating in a report on Friday, August 25th. Finally, BidaskClub cut shares of UMB Financial Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $77.40.
In other news, Director Timothy R. Murphy acquired 1,500 shares of UMB Financial Corporation stock in a transaction that occurred on Tuesday, September 12th. The stock was purchased at an average price of $67.50 per share, for a total transaction of $101,250.00. Following the purchase, the director now directly owns 4,049 shares in the company, valued at approximately $273,307.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.09% of the company’s stock.
Shares of UMB Financial Corporation (UMBF) traded up 1.21% during midday trading on Friday, reaching $68.34. 486,300 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $67.60 and its 200 day moving average price is $72.39. UMB Financial Corporation has a 12-month low of $57.31 and a 12-month high of $81.55. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 19.75 and a beta of 0.86.
UMB Financial Corporation (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, July 25th. The bank reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $247.70 million for the quarter, compared to the consensus estimate of $261.84 million. UMB Financial Corporation had a return on equity of 8.81% and a net margin of 16.59%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 EPS. Equities analysts anticipate that UMB Financial Corporation will post $3.65 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be paid a dividend of $0.255 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.02 annualized dividend and a dividend yield of 1.49%. UMB Financial Corporation’s dividend payout ratio (DPR) is presently 29.39%.
UMB Financial Corporation 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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