Oppenheimer Asset Management Inc. Buys Shares of 7,908 UMB Financial Co. (NASDAQ:UMBF)

Oppenheimer Asset Management Inc. purchased a new position in UMB Financial Co. (NASDAQ:UMBF) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,908 shares of the bank’s stock, valued at approximately $831,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd boosted its stake in shares of UMB Financial by 31.0% in the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after buying an additional 102 shares during the last quarter. CWM LLC boosted its stake in shares of UMB Financial by 7.1% in the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after buying an additional 129 shares during the last quarter. Truist Financial Corp boosted its stake in shares of UMB Financial by 3.3% in the 2nd quarter. Truist Financial Corp now owns 4,238 shares of the bank’s stock worth $354,000 after buying an additional 136 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of UMB Financial by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock worth $4,496,000 after buying an additional 200 shares during the last quarter. Finally, Great Lakes Advisors LLC boosted its stake in shares of UMB Financial by 0.4% in the 2nd quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank’s stock worth $4,913,000 after buying an additional 210 shares during the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Piper Sandler lifted their target price on UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Citigroup assumed coverage on UMB Financial in a research report on Thursday, October 10th. They set a “buy” rating and a $127.00 target price on the stock. Barclays lifted their target price on UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their target price on UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

Insider Transactions at UMB Financial

In other news, Director Kris A. Robbins sold 5,000 shares of UMB Financial stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.50, for a total value of $512,500.00. Following the sale, the director now directly owns 3,211 shares of the company’s stock, valued at approximately $329,127.50. The trade was a 60.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Greg M. Graves bought 258 shares of UMB Financial stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $109.29 per share, for a total transaction of $28,196.82. Following the completion of the acquisition, the director now directly owns 36,244 shares of the company’s stock, valued at approximately $3,961,106.76. The trade was a 0.72 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 54,449 shares of company stock valued at $5,724,799. 8.85% of the stock is currently owned by insiders.

UMB Financial Price Performance

NASDAQ:UMBF opened at $121.25 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. The business’s 50-day simple moving average is $108.82 and its two-hundred day simple moving average is $96.06. The stock has a market cap of $5.92 billion, a PE ratio of 15.16 and a beta of 0.78. UMB Financial Co. has a 52 week low of $69.96 and a 52 week high of $128.73.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.05. The business had revenue of $716.44 million for the quarter, compared to analysts’ expectations of $398.83 million. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same period last year, the firm earned $2.02 earnings per share. As a group, analysts forecast that UMB Financial Co. will post 9.33 EPS for the current fiscal year.

UMB Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.32%. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, December 10th. UMB Financial’s payout ratio is 19.50%.

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.