Sumitomo Mitsui Trust Group Inc. Invests $412,000 in UMB Financial Corporation $UMBF

Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of UMB Financial Corporation (NASDAQ:UMBF) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,650 shares of the bank’s stock, valued at approximately $412,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UMBF. MBM Wealth Consultants LLC acquired a new stake in shares of UMB Financial in the 1st quarter valued at $26,000. Kemnay Advisory Services Inc. bought a new position in UMB Financial in the fourth quarter valued at about $27,000. Hilton Head Capital Partners LLC acquired a new position in UMB Financial during the fourth quarter worth about $34,000. Torren Management LLC bought a new position in shares of UMB Financial in the fourth quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of UMB Financial by 193.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 405 shares of the bank’s stock valued at $43,000 after purchasing an additional 267 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, President James D. Rine sold 8,246 shares of the company’s stock in a transaction that occurred on 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 sale, the president directly owned 61,446 shares in the company, valued at approximately $8,147,125.14. This represents a 11.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Charles Gallagher sold 381 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total value of $50,627.28. Following the completion of the transaction, the director directly owned 12,223 shares of the company’s stock, valued at $1,624,192.24. The trade was a 3.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on UMBF. Hovde Group raised their target price on shares of UMB Financial from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Morgan Stanley raised their price objective on UMB Financial from $143.00 to $159.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Stephens started coverage on UMB Financial in a report on Tuesday. They issued an “overweight” rating and a $167.00 target price for the company. Weiss Ratings upgraded shares of UMB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Finally, Truist Financial raised their price objective on UMB Financial from $140.00 to $161.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.17.

UMB Financial Stock Up 1.9%

UMBF stock opened at $148.02 on Friday. The stock’s fifty day simple moving average is $135.41 and its two-hundred day simple moving average is $125.92. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $11.25 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.80 and a beta of 0.77. UMB Financial Corporation has a 1-year low of $103.38 and a 1-year high of $148.31.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.59. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. The business had revenue of $739.16 million during the quarter, compared to the consensus estimate of $701.79 million. During the same quarter last year, the company posted $2.58 earnings per share. The firm’s quarterly revenue was up 31.1% compared to the same quarter last year. Analysts expect that UMB Financial Corporation will post 12.85 EPS for the current year.

UMB Financial Announces Dividend

The company also recently disclosed 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 of this dividend was Wednesday, June 10th. This represents a $1.72 annualized dividend and a yield of 1.2%. UMB Financial’s dividend payout ratio (DPR) is 15.26%.

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.