10,215,651 Shares in UMB Financial Corporation $UMBF Acquired by BlackRock Inc.

BlackRock Inc. acquired a new position in shares of UMB Financial Corporation (NASDAQ:UMBF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,215,651 shares of the bank’s stock, valued at approximately $1,458,386,000. BlackRock Inc. owned approximately 13.45% of UMB Financial as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. MBM Wealth Consultants LLC bought a new position in UMB Financial in the first quarter valued at about $26,000. Kemnay Advisory Services Inc. acquired a new stake in UMB Financial in the fourth quarter worth about $27,000. Axiom Investment Management LLC bought a new stake in UMB Financial during the 1st quarter worth about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in UMB Financial during the 2nd quarter worth about $38,000. Finally, Hilton Head Capital Partners LLC acquired a new position in UMB Financial during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 87.78% of the company’s stock.

Insider Buying and Selling

In other news, insider Phillip James Mason sold 800 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $147.00, for a total value of $117,600.00. Following the completion of the transaction, the insider owned 8,894 shares of the company’s stock, valued at $1,307,418. The trade was a 8.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nikki Farentino Newton sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $148.60, for a total transaction of $297,200.00. Following the completion of the sale, the insider owned 11,981 shares of the company’s stock, valued at approximately $1,780,376.60. This represents a 14.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 34,171 shares of company stock valued at $4,919,826. 5.33% of the stock is owned by company insiders.

UMB Financial Trading Down 0.6%

Shares of UMB Financial stock traded down $0.85 during trading on Friday, hitting $145.01. 100,099 shares of the company were exchanged, compared to its average volume of 624,063. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $11.01 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 0.72 and a beta of 0.77. The firm’s fifty day moving average price is $143.63 and its 200 day moving average price is $130.28. UMB Financial Corporation has a 1-year low of $103.38 and a 1-year high of $153.32.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.12 by $0.45. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. The business had revenue of $778.00 million for the quarter, compared to the consensus estimate of $727.63 million. During the same period last year, the company posted $2.96 EPS. As a group, sell-side analysts expect that UMB Financial Corporation will post 13.48 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This is a boost from UMB Financial’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a yield of 1.4%. UMB Financial’s payout ratio is currently 14.32%.

Analyst Upgrades and Downgrades

UMBF has been the topic of several recent research reports. Hovde Group raised their target price on shares of UMB Financial from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. TD Cowen reissued a “buy” rating and set a $166.00 price target (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Wells Fargo & Company set a $160.00 price objective on shares of UMB Financial and gave the company an “equal weight” rating in a report on Monday, August 10th. Morgan Stanley raised their price objective on shares of UMB Financial from $143.00 to $159.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $181.00 target price (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $165.00.

UMB Financial Company Profile

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.