City State Bank Acquires 500 Shares of UMB Financial Co. (NASDAQ:UMBF)

City State Bank raised its holdings in shares of UMB Financial Co. (NASDAQ:UMBF) by 166.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 800 shares of the bank’s stock after purchasing an additional 500 shares during the quarter. City State Bank’s holdings in UMB Financial were worth $49,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in UMBF. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of UMB Financial by 10.7% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,797 shares of the bank’s stock valued at $1,535,000 after buying an additional 1,527 shares during the period. BlackRock Inc. grew its holdings in shares of UMB Financial by 0.3% in the 1st quarter. BlackRock Inc. now owns 5,164,237 shares of the bank’s stock valued at $501,757,000 after buying an additional 16,698 shares during the period. Great West Life Assurance Co. Can grew its holdings in shares of UMB Financial by 7.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 23,436 shares of the bank’s stock valued at $2,339,000 after buying an additional 1,581 shares during the period. Yousif Capital Management LLC grew its holdings in shares of UMB Financial by 2.3% in the 1st quarter. Yousif Capital Management LLC now owns 23,530 shares of the bank’s stock valued at $2,286,000 after buying an additional 525 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of UMB Financial by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,062,319 shares of the bank’s stock valued at $103,218,000 after buying an additional 11,391 shares during the period. Institutional investors own 91.97% of the company’s stock.

UMB Financial Price Performance

UMBF stock opened at $63.27 on Friday. The company has a fifty day moving average price of $65.97 and a 200-day moving average price of $63.50. The company has a market capitalization of $3.07 billion, a P/E ratio of 8.30 and a beta of 0.83. UMB Financial Co. has a 52-week low of $50.68 and a 52-week high of $92.70. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.71 and a current ratio of 0.71.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, July 25th. The bank reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.06). UMB Financial had a return on equity of 13.85% and a net margin of 18.00%. The firm had revenue of $370.27 million for the quarter, compared to the consensus estimate of $374.60 million. As a group, equities analysts expect that UMB Financial Co. will post 7.35 EPS for the current year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, September 8th. UMB Financial’s dividend payout ratio (DPR) is presently 19.95%.

Insider Buying and Selling

In other UMB Financial news, CEO J Mariner Kemper sold 400 shares of UMB Financial stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $65.21, for a total value of $26,084.00. Following the sale, the chief executive officer now owns 1,859,888 shares of the company’s stock, valued at $121,283,296.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other UMB Financial news, insider Nikki Farentino Newton sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $68.87, for a total value of $89,531.00. Following the completion of the transaction, the insider now owns 8,285 shares of the company’s stock, valued at approximately $570,587.95. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO J Mariner Kemper sold 400 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $65.21, for a total transaction of $26,084.00. Following the completion of the sale, the chief executive officer now directly owns 1,859,888 shares of the company’s stock, valued at approximately $121,283,296.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,318 shares of company stock worth $665,233. 9.77% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on UMBF shares. Raymond James boosted their price target on shares of UMB Financial from $77.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Piper Sandler raised shares of UMB Financial from a “neutral” rating to an “overweight” rating and set a $74.00 target price for the company in a research note on Wednesday. Keefe, Bruyette & Woods upped their target price on shares of UMB Financial from $72.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. Finally, StockNews.com began coverage on shares of UMB Financial in a research note on Thursday, August 17th. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, UMB Financial currently has a consensus rating of “Hold” and a consensus price target of $82.00.

UMB Financial Company Profile

UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.