Heritage Family Offices LLP Makes New $203,000 Investment in UMB Financial Co. (NASDAQ:UMBF)

Heritage Family Offices LLP bought a new stake in UMB Financial Co. (NASDAQ:UMBF) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 1,934 shares of the bank’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millennium Management LLC grew its position in UMB Financial by 567.1% during the second quarter. Millennium Management LLC now owns 733,734 shares of the bank’s stock valued at $61,208,000 after buying an additional 623,751 shares during the period. Vanguard Group Inc. increased its position in UMB Financial by 9.2% in the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock worth $409,321,000 after buying an additional 394,578 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of UMB Financial by 102.7% in the second quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock valued at $62,780,000 after buying an additional 381,278 shares during the period. American Century Companies Inc. lifted its position in shares of UMB Financial by 6.8% during the 2nd quarter. American Century Companies Inc. now owns 1,752,524 shares of the bank’s stock valued at $146,196,000 after buying an additional 111,090 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in UMB Financial by 52.1% in the 2nd quarter. AQR Capital Management LLC now owns 299,270 shares of the bank’s stock worth $24,639,000 after acquiring an additional 102,467 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on UMBF shares. Piper Sandler lifted their price objective on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Citigroup started coverage on shares of UMB Financial in a report on Thursday, October 10th. They issued a “buy” rating and a $127.00 price target on the stock. Barclays boosted their price objective on shares of UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company increased their target price on shares of UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.86.

Insider Activity at UMB Financial

In related news, Director Tamara Peterman acquired 396 shares of the stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $99.56 per share, for a total transaction of $39,425.76. Following the completion of the acquisition, the director now directly owns 7,407 shares of the company’s stock, valued at approximately $737,440.92. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Tamara Peterman acquired 396 shares of the stock in a transaction on Thursday, August 1st. The stock was acquired at an average price of $99.56 per share, with a total value of $39,425.76. Following the completion of the transaction, the director now owns 7,407 shares of the company’s stock, valued at $737,440.92. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Amy Harris sold 736 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $95.05, for a total transaction of $69,956.80. Following the transaction, the executive vice president now directly owns 2,899 shares of the company’s stock, valued at $275,549.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,596 shares of company stock worth $4,224,884 over the last 90 days. 8.85% of the stock is owned by company insiders.

UMB Financial Price Performance

Shares of NASDAQ:UMBF opened at $111.18 on Thursday. UMB Financial Co. has a one year low of $58.92 and a one year high of $113.30. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 14.35 and a beta of 0.78. The company’s fifty day moving average price is $102.46 and its 200-day moving average price is $91.07.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, July 30th. The bank reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.15. The business had revenue of $390.03 million for the quarter, compared to analysts’ expectations of $384.96 million. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $1.93 earnings per share. On average, equities research analysts anticipate that UMB Financial Co. will post 8.98 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were issued a $0.39 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.56 annualized dividend and a yield of 1.40%. UMB Financial’s dividend payout ratio (DPR) is presently 20.13%.

UMB Financial Company 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.