UMB Financial Co. (NASDAQ:UMBF) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. increased its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 519.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,211 shares of the bank’s stock after purchasing an additional 34,560 shares during the quarter. Federated Hermes Inc. owned 0.08% of UMB Financial worth $3,438,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of UMB Financial in the fourth quarter valued at $39,376,000. Vanguard Group Inc. raised its position in UMB Financial by 9.2% during the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock worth $409,321,000 after acquiring an additional 394,578 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of UMB Financial by 6.8% in the second quarter. American Century Companies Inc. now owns 1,752,524 shares of the bank’s stock valued at $146,196,000 after purchasing an additional 111,090 shares in the last quarter. Peregrine Capital Management LLC acquired a new stake in shares of UMB Financial in the second quarter valued at approximately $7,308,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of UMB Financial by 3.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,905,072 shares of the bank’s stock worth $165,722,000 after purchasing an additional 63,022 shares in the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

UMB Financial Stock Up 3.1 %

Shares of NASDAQ:UMBF opened at $108.86 on Friday. UMB Financial Co. has a 12-month low of $57.91 and a 12-month high of $109.42. The stock’s 50-day moving average price is $98.74 and its two-hundred day moving average price is $87.93. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.12. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 14.46 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, July 30th. The bank reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.15. The firm had revenue of $390.03 million during the quarter, compared to the consensus estimate of $384.96 million. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. UMB Financial’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.93 earnings per share. On average, research analysts forecast that UMB Financial Co. will post 8.98 EPS for the current year.

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Tuesday, September 10th. UMB Financial’s dividend payout ratio (DPR) is presently 20.72%.

Insider Activity at UMB Financial

In other news, Director Kris A. Robbins sold 5,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the sale, the director now owns 3,211 shares of the company’s stock, valued at $329,127.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO J Mariner Kemper sold 8,450 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $83.33, for a total value of $704,138.50. Following the completion of the sale, the chief executive officer now owns 1,681,904 shares of the company’s stock, valued at $140,153,060.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kris A. Robbins sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.50, for a total value of $512,500.00. Following the sale, the director now owns 3,211 shares in the company, valued at $329,127.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,846 shares of company stock worth $3,135,439. Company insiders own 8.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on UMBF shares. Wells Fargo & Company increased their target price on UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods raised shares of UMB Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $93.00 to $98.00 in a research note on Friday, May 31st. Piper Sandler raised their price target on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Barclays lifted their price target on shares of UMB Financial from $100.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, UMB Financial presently has an average rating of “Moderate Buy” and a consensus target price of $102.33.

About UMB Financial

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. 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.