OLD National Bancorp IN Takes $2.30 Million Position in UMB Financial Co. (NASDAQ:UMBF)

OLD National Bancorp IN acquired a new stake in shares of UMB Financial Co. (NASDAQ:UMBF) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,734 shares of the bank’s stock, valued at approximately $2,298,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of UMBF. Truist Financial Corp boosted its position in UMB Financial by 0.4% in the fourth quarter. Truist Financial Corp now owns 19,565 shares of the bank’s stock worth $2,208,000 after purchasing an additional 83 shares during the last quarter. Covestor Ltd boosted its position in UMB Financial by 28.8% in the fourth quarter. Covestor Ltd now owns 555 shares of the bank’s stock worth $63,000 after purchasing an additional 124 shares during the last quarter. EP Wealth Advisors LLC boosted its position in UMB Financial by 5.8% in the fourth quarter. EP Wealth Advisors LLC now owns 2,361 shares of the bank’s stock worth $266,000 after purchasing an additional 130 shares during the last quarter. Heritage Family Offices LLP boosted its position in UMB Financial by 7.6% in the first quarter. Heritage Family Offices LLP now owns 2,215 shares of the bank’s stock worth $224,000 after purchasing an additional 156 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in UMB Financial by 0.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,144 shares of the bank’s stock worth $3,063,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 87.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on UMBF. Bank of America began coverage on UMB Financial in a research report on Wednesday, April 16th. They issued a “buy” rating and a $105.00 price objective on the stock. Wells Fargo & Company boosted their price objective on UMB Financial from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 1st. Royal Bank of Canada cut their price objective on UMB Financial from $128.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 1st. Wall Street Zen cut UMB Financial from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley dropped their price target on UMB Financial from $156.00 to $146.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.13.

UMB Financial Stock Up 2.9%

Shares of NASDAQ UMBF opened at $104.79 on Monday. UMB Financial Co. has a one year low of $78.91 and a one year high of $129.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. The business’s fifty day moving average price is $98.21 and its 200-day moving average price is $108.27. The stock has a market capitalization of $7.96 billion, a PE ratio of 11.66 and a beta of 0.75.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.37. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. The company had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. During the same period in the previous year, the company posted $2.47 EPS. The firm’s revenue for the quarter was up 41.4% compared to the same quarter last year. On average, equities research analysts anticipate that UMB Financial Co. will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.53%. UMB Financial’s payout ratio is 20.13%.

Insider Activity at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the transaction, the chief executive officer now directly owns 288,945 shares in the company, valued at $29,417,490.45. This represents a 1.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.45% 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.