The Manufacturers Life Insurance Company Makes New $9.81 Million Investment in UMB Financial Corporation $UMBF

The Manufacturers Life Insurance Company bought a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF) during the 2nd quarter, Holdings Channel.com reports. The fund bought 68,730 shares of the bank’s stock, valued at approximately $9,812,000.

A number of other institutional investors and hedge funds have also made changes to their positions in UMBF. MBM Wealth Consultants LLC bought a new position in shares of UMB Financial in the 1st quarter worth $26,000. Kemnay Advisory Services Inc. bought a new stake in UMB Financial during the fourth quarter valued at about $27,000. Axiom Investment Management LLC purchased a new position in UMB Financial in the first quarter valued at about $28,000. Hilton Head Capital Partners LLC purchased a new position in UMB Financial in the fourth quarter valued at about $34,000. Finally, Torren Management LLC bought a new position in UMB Financial in the fourth quarter worth about $37,000. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

UMB Financial Stock Performance

UMBF opened at $144.59 on Friday. UMB Financial Corporation has a 52-week low of $103.38 and a 52-week high of $153.32. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. The company has a market cap of $10.98 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.71 and a beta of 0.77. The firm’s 50-day moving average price is $144.86 and its 200-day moving average price is $130.85.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, topping 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 company had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $727.63 million. During the same period last year, the business earned $2.96 EPS. As a group, equities analysts anticipate that UMB Financial Corporation will post 13.48 EPS for the current fiscal year.

UMB Financial Increases Dividend

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

Insider Transactions at UMB Financial

In other UMB Financial news, insider Nikki Farentino Newton sold 2,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total transaction of $297,200.00. Following the sale, the insider directly owned 11,981 shares of the company’s stock, valued at approximately $1,780,376.60. This trade represents a 14.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Charles Gallagher sold 360 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $145.13, for a total value of $52,246.80. Following the sale, the director directly 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 34,171 shares of company stock valued at $4,919,826 over the last quarter. Company insiders own 5.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Truist Financial set a $170.00 price target on shares of UMB Financial and gave the company a “buy” rating in a report on Tuesday, August 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of UMB Financial in a research note on Friday, July 24th. Piper Sandler reissued an “overweight” rating and set a $181.00 target price (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. JPMorgan Chase & Co. started coverage on shares of UMB Financial in a research note on Thursday, August 20th. They issued an “overweight” rating and a $180.00 target price for the company. Finally, Citigroup reaffirmed a “neutral” rating and set a $162.00 price target (up from $144.00) on shares of UMB Financial in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, UMB Financial presently has a consensus rating of “Moderate Buy” and an average price target of $166.54.

UMB Financial 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.