Freestone Grove Partners LP Takes Position in UMB Financial Corporation $UMBF

Freestone Grove Partners LP purchased a new position in shares of UMB Financial Corporation (NASDAQ:UMBF) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 50,160 shares of the bank’s stock, valued at approximately $7,161,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in UMB Financial in the 2nd quarter valued at about $1,458,386,000. Alliancebernstein L.P. lifted its position in UMB Financial by 636.7% in the second quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock valued at $156,543,000 after buying an additional 1,286,543 shares during the last quarter. Wellington Management Group LLP boosted its stake in UMB Financial by 32.0% during the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock worth $366,743,000 after buying an additional 751,525 shares during the period. Norges Bank purchased a new position in UMB Financial during the fourth quarter worth about $85,885,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of UMB Financial during the second quarter valued at about $78,410,000. 87.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on UMBF shares. TD Cowen reissued a “buy” rating and issued a $166.00 price target (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Piper Sandler reaffirmed an “overweight” rating and set a $181.00 price objective (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of UMB Financial in a report on Friday, July 24th. Truist Financial set a $170.00 target price on UMB Financial and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, Morgan Stanley upped their price target on UMB Financial from $143.00 to $159.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, UMB Financial presently has an average rating of “Moderate Buy” and a consensus target price of $166.54.

Insider Activity

In related news, Director Susan G. Murphy sold 1,377 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $145.55, for a total transaction of $200,422.35. Following the sale, the director directly owned 10,635 shares of the company’s stock, valued at $1,547,924.25. This represents a 11.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Charles Gallagher sold 360 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $145.13, for a total transaction of $52,246.80. Following the sale, the director owned 11,863 shares in the company, valued at approximately $1,721,677.19. This trade represents a 2.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 34,171 shares of company stock worth $4,919,826 over the last 90 days. Company insiders own 5.33% of the company’s stock.

UMB Financial Stock Performance

NASDAQ UMBF opened at $144.59 on Friday. The company has a market cap of $10.98 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.71 and a beta of 0.77. 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 stock has a 50-day moving average of $144.86 and a two-hundred day moving average of $130.85. UMB Financial Corporation has a 1-year low of $103.38 and a 1-year high of $153.32.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.12 by $0.45. The company had revenue of $778.00 million for the quarter, compared to analyst estimates of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same period in the prior year, the firm earned $2.96 earnings per share. As a group, analysts anticipate that UMB Financial Corporation will post 13.48 EPS for the current year.

UMB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from UMB Financial’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, September 10th. UMB Financial’s dividend payout ratio (DPR) is presently 14.32%.

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.