Price T Rowe Associates Inc. MD raised its stake in shares of UMB Financial Corp (NASDAQ:UMBF) by 15.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 21,635 shares of the bank’s stock after acquiring an additional 2,883 shares during the period. Price T Rowe Associates Inc. MD’s holdings in UMB Financial were worth $1,424,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oakworth Capital Inc. purchased a new position in shares of UMB Financial during the 2nd quarter valued at about $34,000. Parkside Investments LLC purchased a new position in shares of UMB Financial during the 2nd quarter valued at about $56,000. Point72 Asset Management L.P. purchased a new position in shares of UMB Financial during the 2nd quarter valued at about $66,000. Quantamental Technologies LLC purchased a new position in shares of UMB Financial during the 2nd quarter valued at about $71,000. Finally, Kavar Capital Partners LLC purchased a new position in shares of UMB Financial during the 2nd quarter valued at about $82,000. Institutional investors and hedge funds own 85.60% of the company’s stock.
NASDAQ:UMBF opened at $63.54 on Friday. UMB Financial Corp has a 52 week low of $57.00 and a 52 week high of $71.97. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $3.06 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.50 and a beta of 0.93. The stock’s 50-day moving average price is $63.60 and its 200-day moving average price is $65.06.
UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, July 30th. The bank reported $1.17 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.17. UMB Financial had a return on equity of 8.68% and a net margin of 16.17%. The firm had revenue of $271.80 million for the quarter, compared to analysts’ expectations of $271.47 million. During the same period last year, the firm earned $1.12 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts expect that UMB Financial Corp will post 4.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Monday, September 9th. UMB Financial’s dividend payout ratio (DPR) is presently 29.78%.
In other news, Chairman J Mariner Kemper sold 3,145 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $65.64, for a total transaction of $206,437.80. Following the sale, the chairman now directly owns 188,862 shares in the company, valued at approximately $12,396,901.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kris A. Robbins sold 800 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $62.57, for a total value of $50,056.00. Following the sale, the director now owns 4,796 shares in the company, valued at $300,085.72. The disclosure for this sale can be found here. Insiders have sold a total of 4,257 shares of company stock worth $276,615 over the last 90 days. Insiders own 10.45% of the company’s stock.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered UMB Financial from a “buy” rating to a “hold” rating and set a $69.00 price objective for the company. in a research note on Tuesday, July 2nd. BidaskClub upgraded UMB Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Stephens reiterated a “buy” rating and set a $75.00 price objective on shares of UMB Financial in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $71.67.
UMB Financial Profile
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. It operates through four segments: Commercial Banking, Institutional Banking, Personal Banking, and Healthcare Services. The Commercial Banking segment provides commercial loans, commercial credit cards, letters of credit, loan syndication services, consultative services, and various financial options; capital markets services, including asset-based financing, asset securitization, equity and mezzanine financing, factoring, and private and public placement of senior debt, as well as merger and acquisition consulting; and depository, account reconciliation, electronic fund transfer, controlled disbursements, lockbox, and remote deposit capture services.
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