Palisade Capital Management LP Buys Shares of 47,614 UMB Financial Corporation $UMBF

Palisade Capital Management LP bought a new stake in UMB Financial Corporation (NASDAQ:UMBF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 47,614 shares of the bank’s stock, valued at approximately $6,797,000.

Several other large investors have also modified their holdings of UMBF. BlackRock Inc. acquired a new stake in shares of UMB Financial during the second quarter worth $1,458,386,000. UMB Bank n.a. grew its position in UMB Financial by 11.4% in the 4th quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank’s stock valued at $553,322,000 after buying an additional 493,875 shares during the last quarter. State Street Corp increased its stake in UMB Financial by 7.9% in the 2nd quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock valued at $453,461,000 after buying an additional 313,414 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 valued at $366,743,000 after buying an additional 751,525 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in UMB Financial by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank’s stock worth $328,200,000 after buying an additional 55,005 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

Insider Buying and Selling at UMB Financial

In other UMB Financial 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 transaction of $1,093,337.14. Following the completion of the transaction, the president directly owned 61,446 shares in the company, valued at approximately $8,147,125.14. This trade represents a 11.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan G. Murphy sold 1,377 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $145.55, for a total transaction of $200,422.35. Following the transaction, the director owned 10,635 shares of the company’s stock, valued at $1,547,924.25. This trade represents a 11.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 34,171 shares of company stock worth $4,919,826. Insiders own 5.33% of the company’s stock.

UMB Financial Trading Down 0.3%

Shares of UMB Financial stock opened at $143.57 on Wednesday. The company has a 50-day moving average of $144.19 and a two-hundred day moving average of $130.61. UMB Financial Corporation has a 12-month low of $103.38 and a 12-month high of $153.32. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The stock has a market cap of $10.90 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 0.71 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.45. The firm had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $727.63 million. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.During the same period in the previous year, the firm posted $2.96 earnings per share. On average, research analysts anticipate that UMB Financial Corporation will post 13.48 EPS for the current fiscal year.

UMB Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be given a $0.50 dividend. This is an increase from UMB Financial’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 10th. UMB Financial’s dividend payout ratio (DPR) is 14.32%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on UMBF. Keefe, Bruyette & Woods raised their target price on shares of UMB Financial from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Piper Sandler reiterated an “overweight” rating and set a $181.00 price target (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Citigroup reissued a “neutral” rating and set a $162.00 price target (up from $144.00) on shares of UMB Financial in a report on Friday, July 31st. Wells Fargo & Company set a $160.00 price objective on shares of UMB Financial and gave the company an “equal weight” rating in a research report on Monday, August 10th. Finally, Zacks Research lowered UMB Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.00.

UMB Financial Company Profile

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.