UMB Financial Corporation (UMBF) Shares Bought by Eagle Asset Management Inc.
Eagle Asset Management Inc. boosted its stake in shares of UMB Financial Corporation (NASDAQ:UMBF) by 33.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 789,143 shares of the bank’s stock after buying an additional 198,343 shares during the period. Eagle Asset Management Inc. owned 1.60% of UMB Financial Corporation worth $59,075,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in UMB Financial Corporation by 17,367.3% in the first quarter. BlackRock Inc. now owns 4,683,344 shares of the bank’s stock valued at $352,703,000 after buying an additional 4,656,532 shares in the last quarter. Vanguard Group Inc. boosted its position in UMB Financial Corporation by 11.8% in the first quarter. Vanguard Group Inc. now owns 4,094,745 shares of the bank’s stock valued at $308,375,000 after buying an additional 432,314 shares in the last quarter. State Street Corp boosted its position in UMB Financial Corporation by 24.2% in the first quarter. State Street Corp now owns 2,250,512 shares of the bank’s stock valued at $169,490,000 after buying an additional 438,798 shares in the last quarter. Victory Capital Management Inc. boosted its position in UMB Financial Corporation by 8.7% in the second quarter. Victory Capital Management Inc. now owns 1,274,598 shares of the bank’s stock valued at $95,416,000 after buying an additional 101,817 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in UMB Financial Corporation by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 988,794 shares of the bank’s stock valued at $74,022,000 after buying an additional 52,788 shares in the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.
UMB Financial Corporation (NASDAQ:UMBF) opened at 67.12 on Friday. UMB Financial Corporation has a one year low of $57.31 and a one year high of $81.55. The stock has a market cap of $3.36 billion, a PE ratio of 19.39 and a beta of 0.86. The stock has a 50 day moving average price of $69.77 and a 200-day moving average price of $73.37.
UMB Financial Corporation (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by $0.02. The company had revenue of $247.70 million during the quarter, compared to analysts’ expectations of $261.84 million. UMB Financial Corporation had a net margin of 16.59% and a return on equity of 8.81%. UMB Financial Corporation’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $0.76 earnings per share. Equities research analysts expect that UMB Financial Corporation will post $3.65 earnings per share for the current fiscal year.
The business also recently declared a dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a $0.255 dividend. The ex-dividend date of this dividend is Thursday, September 7th. UMB Financial Corporation’s dividend payout ratio (DPR) is presently 29.39%.
Several equities analysts have weighed in on UMBF shares. Stephens set a $71.00 price target on UMB Financial Corporation and gave the company a “hold” rating in a report on Wednesday, July 26th. UBS AG upgraded UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. Piper Jaffray Companies set a $74.00 price target on UMB Financial Corporation and gave the company a “hold” rating in a report on Friday, August 25th. BidaskClub upgraded UMB Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, Zacks Investment Research upgraded UMB Financial Corporation from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Friday, July 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. UMB Financial Corporation presently has an average rating of “Hold” and an average target price of $77.40.
In other news, Chairman J Mariner Kemper sold 21,600 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $75.17, for a total value of $1,623,672.00. Following the completion of the sale, the chairman now directly owns 186,373 shares in the company, valued at $14,009,658.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael D. Hagedorn sold 3,125 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $74.54, for a total value of $232,937.50. Following the completion of the sale, the insider now owns 66,743 shares of the company’s stock, valued at $4,975,023.22. The disclosure for this sale can be found here. Insiders sold 27,225 shares of company stock valued at $2,043,235 over the last 90 days. Company insiders own 10.09% of the company’s stock.
UMB Financial Corporation Company Profile
UMB Financial Corporation is a diversified financial holding company. The Company supplies banking services, institutional investment management, asset servicing and payment solutions to its customers in the United States and around the globe. The Company’s segments include Bank, which provides a range of banking services to commercial, retail, government and correspondent bank customers through the Company’s branches, call center, Internet banking and automated teller machine network; Institutional Investment Management, which provides equity and fixed income investment strategies in the intermediary and institutional markets, and Asset Servicing, which provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts.
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