AQR Capital Management LLC Purchases 102,467 Shares of UMB Financial Co. (NASDAQ:UMBF)

AQR Capital Management LLC grew its position in UMB Financial Co. (NASDAQ:UMBF) by 52.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 299,270 shares of the bank’s stock after purchasing an additional 102,467 shares during the period. AQR Capital Management LLC owned about 0.61% of UMB Financial worth $24,639,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted 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 valued at $409,321,000 after buying an additional 394,578 shares during the period. ProShare Advisors LLC raised its stake in UMB Financial by 102.7% during the second quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock valued at $62,780,000 after buying an additional 381,278 shares during the last quarter. American Century Companies Inc. grew its position in UMB Financial by 6.8% during the 2nd 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 during the last quarter. Dimensional Fund Advisors LP boosted its stake in UMB Financial by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,689,895 shares of the bank’s stock valued at $140,968,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in UMB Financial by 113.9% in the 2nd quarter. Renaissance Technologies LLC now owns 171,800 shares of the bank’s stock worth $14,332,000 after buying an additional 91,500 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors.

Insider Activity at UMB Financial

In related news, EVP Amy Harris sold 736 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $95.05, for a total transaction of $69,956.80. Following the completion of the sale, the executive vice president now directly owns 2,899 shares in the company, valued at $275,549.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO J Mariner Kemper sold 8,100 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $84.00, for a total value of $680,400.00. Following the sale, the chief executive officer now owns 1,673,804 shares of the company’s stock, valued at approximately $140,599,536. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Amy Harris sold 736 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $95.05, for a total transaction of $69,956.80. Following the transaction, the executive vice president now owns 2,899 shares in the company, valued at $275,549.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,396 shares of company stock worth $2,431,301. 8.85% of the stock is owned by corporate insiders.

UMB Financial Stock Performance

Shares of UMBF stock opened at $104.10 on Monday. The stock has a 50 day simple moving average of $100.04 and a 200-day simple moving average of $88.93. UMB Financial Co. has a 12-month low of $57.91 and a 12-month high of $109.42. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 13.82 and a beta of 0.78. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.12.

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

UMB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.39 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.56 annualized dividend and a yield of 1.50%. UMB Financial’s payout ratio is presently 20.72%.

Wall Street Analyst Weigh In

UMBF has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Barclays increased their price target on UMB Financial from $100.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Piper Sandler boosted their price objective on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.33.

UMB Financial Company Profile

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.