Hancock Whitney Corp Invests $843,000 in UMB Financial Co. (NASDAQ:UMBF)

Hancock Whitney Corp purchased a new position in shares of UMB Financial Co. (NASDAQ:UMBF) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,022 shares of the bank’s stock, valued at approximately $843,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in shares of UMB Financial by 31.0% during the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after buying an additional 102 shares during the period. CWM LLC raised its holdings in shares of UMB Financial by 7.1% during the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock valued at $162,000 after purchasing an additional 129 shares in the last quarter. Truist Financial Corp raised its holdings in UMB Financial by 3.3% during the second quarter. Truist Financial Corp now owns 4,238 shares of the bank’s stock valued at $354,000 after buying an additional 136 shares in the last quarter. Commerce Bank boosted its position in UMB Financial by 0.3% during the third quarter. Commerce Bank now owns 41,708 shares of the bank’s stock worth $4,384,000 after purchasing an additional 142 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in UMB Financial by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock valued at $4,496,000 after purchasing an additional 200 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on UMBF shares. StockNews.com downgraded shares of UMB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 22nd. Barclays upped their price target on shares of UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Morgan Stanley began coverage on UMB Financial in a research note on Thursday, November 21st. They issued an “overweight” rating and a $156.00 price objective on the stock. Royal Bank of Canada initiated coverage on UMB Financial in a research note on Friday, November 22nd. They set a “sector perform” rating and a $130.00 target price for the company. Finally, Piper Sandler raised their target price on UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.00.

Insider Transactions at UMB Financial

In other news, insider Robert Brian Beaird sold 854 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total value of $105,366.52. Following the completion of the transaction, the insider now directly owns 5,828 shares of the company’s stock, valued at approximately $719,058.64. This represents a 12.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Greg M. Graves purchased 258 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $109.29 per share, for a total transaction of $28,196.82. Following the purchase, the director now owns 36,244 shares in the company, valued at $3,961,106.76. This represents a 0.72 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 55,303 shares of company stock valued at $5,830,165. Company insiders own 8.85% of the company’s stock.

UMB Financial Trading Down 1.3 %

Shares of UMBF opened at $125.88 on Wednesday. The stock’s 50-day moving average price is $111.68 and its 200 day moving average price is $98.10. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 15.74 and a beta of 0.78. UMB Financial Co. has a 12-month low of $69.96 and a 12-month high of $129.94.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.05. The company had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same quarter last year, the firm earned $2.02 EPS. As a group, research analysts predict that UMB Financial Co. will post 9.21 earnings per share for the current year.

UMB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be paid a $0.40 dividend. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.27%. UMB Financial’s dividend payout ratio is currently 19.50%.

About UMB Financial

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.