Sumitomo Mitsui Trust Group Inc. Purchases Shares of 3,650 UMB Financial Corporation $UMBF

Sumitomo Mitsui Trust Group Inc. bought a new position in UMB Financial Corporation (NASDAQ:UMBF) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,650 shares of the bank’s stock, valued at approximately $412,000.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in UMB Financial by 28.2% during the 1st quarter. Royal Bank of Canada now owns 42,829 shares of the bank’s stock valued at $4,329,000 after acquiring an additional 9,417 shares during the period. NewEdge Advisors LLC boosted its position in shares of UMB Financial by 47.0% in the first quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank’s stock worth $570,000 after purchasing an additional 1,803 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in UMB Financial by 65.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 207,881 shares of the bank’s stock worth $21,017,000 after buying an additional 82,083 shares in the last quarter. Jane Street Group LLC raised its stake in UMB Financial by 161.7% during the 1st quarter. Jane Street Group LLC now owns 49,877 shares of the bank’s stock valued at $5,043,000 after purchasing an additional 30,820 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of UMB Financial by 6.8% during the second quarter. Cetera Investment Advisers now owns 4,232 shares of the bank’s stock valued at $445,000 after buying an additional 269 shares during the last quarter. 87.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

UMBF has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their target price on UMB Financial from $138.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Hovde Group increased their target price on shares of UMB Financial from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Citigroup raised their price target on UMB Financial from $138.00 to $144.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Truist Financial lifted their price objective on shares of UMB Financial from $140.00 to $161.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Wells Fargo & Company lifted their target price on UMB Financial from $130.00 to $139.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $152.17.

UMB Financial Stock Up 1.9%

UMBF stock opened at $148.02 on Friday. The stock has a market capitalization of $11.25 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 0.80 and a beta of 0.77. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. UMB Financial Corporation has a 52 week low of $103.38 and a 52 week high of $148.31. The firm has a 50 day moving average of $135.41 and a 200 day moving average of $125.92.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.59. The firm had revenue of $739.16 million for the quarter, compared to the consensus estimate of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The firm’s revenue was up 31.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.58 EPS. Sell-side analysts forecast that UMB Financial Corporation will post 12.85 earnings per share for the current year.

UMB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, June 10th. UMB Financial’s dividend payout ratio is 15.26%.

Insider Buying and Selling at UMB Financial

In other news, President James D. Rine sold 8,246 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the sale, the president owned 61,446 shares of the company’s stock, valued at $8,147,125.14. This trade represents a 11.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin Charles Gallagher sold 381 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $132.88, for a total transaction of $50,627.28. Following the sale, the director owned 12,223 shares in the company, valued at approximately $1,624,192.24. This represents a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.33% of the stock is currently owned by corporate insiders.

About UMB Financial

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.