Bessemer Group Inc. Buys 280,785 Shares of UMB Financial Corporation $UMBF

Bessemer Group Inc. lifted its stake in UMB Financial Corporation (NASDAQ:UMBF) by 61,983.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 281,238 shares of the bank’s stock after buying an additional 280,785 shares during the period. Bessemer Group Inc.’s holdings in UMB Financial were worth $31,721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Alliancebernstein L.P. boosted its holdings in UMB Financial by 636.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock valued at $156,543,000 after acquiring an additional 1,286,543 shares during the period. Wellington Management Group LLP increased its stake in UMB Financial by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock worth $366,743,000 after purchasing an additional 751,525 shares during the period. Norges Bank purchased a new position in UMB Financial in the 4th quarter worth approximately $85,885,000. UMB Bank n.a. lifted its position in UMB Financial by 11.4% in the fourth quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank’s stock valued at $553,322,000 after purchasing an additional 493,875 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in UMB Financial by 1,148.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 422,065 shares of the bank’s stock valued at $48,554,000 after purchasing an additional 388,253 shares during the last quarter. Institutional investors own 87.78% of the company’s stock.

UMB Financial Trading Down 1.4%

NASDAQ UMBF opened at $145.99 on Friday. UMB Financial Corporation has a fifty-two week low of $103.38 and a fifty-two week high of $148.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50 day simple moving average of $135.70 and a two-hundred day simple moving average of $126.06. The stock has a market cap of $11.09 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 0.81 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF) last posted 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 analysts’ expectations of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The business’s revenue was up 31.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.58 earnings per share. On average, analysts forecast that UMB Financial Corporation will post 12.85 earnings per share for the current year.

UMB Financial Dividend Announcement

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

Insiders Place Their Bets

In other news, President James D. Rine sold 8,246 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total value of $1,093,337.14. Following the completion of the sale, the president directly owned 61,446 shares of the company’s stock, valued at approximately $8,147,125.14. This trade represents a 11.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kevin Charles Gallagher sold 381 shares of UMB Financial stock in a transaction dated 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 directly owned 12,223 shares in the company, valued at $1,624,192.24. The trade was a 3.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

UMBF has been the topic of several recent analyst reports. Citigroup raised their target price on shares of UMB Financial from $138.00 to $144.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. TD Cowen upped their price target on shares of UMB Financial from $141.00 to $147.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Stephens initiated coverage on shares of UMB Financial in a research report on Tuesday. They set an “overweight” rating and a $167.00 price target for the company. Zacks Research lowered shares of UMB Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings raised shares of UMB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, UMB Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.17.

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.