Commerce Bank Purchases 142 Shares of UMB Financial Co. (NASDAQ:UMBF)

Commerce Bank lifted its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,708 shares of the bank’s stock after purchasing an additional 142 shares during the period. Commerce Bank’s holdings in UMB Financial were worth $4,384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd increased its position in UMB Financial by 31.0% during the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after purchasing an additional 102 shares during the period. CWM LLC increased its position in shares of UMB Financial by 7.1% during the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after buying an additional 129 shares during the period. Truist Financial Corp raised its stake in UMB Financial by 3.3% during the second 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 lifted its holdings in UMB Financial by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock valued at $4,496,000 after buying an additional 200 shares during the period. Finally, Great Lakes Advisors LLC boosted its position in UMB Financial by 0.4% during the second quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank’s stock valued at $4,913,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

Analyst Upgrades and Downgrades

UMBF has been the topic of a number of recent analyst reports. StockNews.com downgraded UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday. Barclays boosted their price target on UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Royal Bank of Canada started coverage on shares of UMB Financial in a research report on Friday. They set a “sector perform” rating and a $130.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, 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 report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.00.

UMB Financial Stock Performance

Shares of UMBF stock opened at $125.00 on Friday. UMB Financial Co. has a 12 month low of $69.96 and a 12 month high of $128.73. The firm has a market capitalization of $6.10 billion, a PE ratio of 15.63 and a beta of 0.78. The firm has a fifty day simple moving average of $110.41 and a two-hundred day simple moving average of $96.96. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.11.

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

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 1.28%. UMB Financial’s dividend payout ratio (DPR) is 19.50%.

Insiders Place Their Bets

In other UMB Financial news, Director Kris A. Robbins sold 5,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 3,211 shares in the company, valued at $329,127.50. This represents a 60.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert Brian Beaird sold 854 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $123.38, for a total value of $105,366.52. Following the completion of the sale, the insider now directly owns 5,828 shares in the company, valued at approximately $719,058.64. The trade was a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,303 shares of company stock valued at $5,830,165 in the last 90 days. 8.85% of the stock is currently owned by corporate insiders.

UMB Financial 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.