47,614 Shares in UMB Financial Corporation $UMBF Acquired by Palisade Capital Management LP

Palisade Capital Management LP bought a new position in shares of UMB Financial Corporation (NASDAQ:UMBF) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 47,614 shares of the bank’s stock, valued at approximately $6,797,000. Palisade Capital Management LP owned approximately 0.06% of UMB Financial as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. BlackRock Inc. acquired a new stake in UMB Financial in the second quarter valued at approximately $1,458,386,000. First National Bank of Omaha purchased a new stake in shares of UMB Financial in the 2nd quarter valued at approximately $1,053,000. Ceredex Value Advisors LLC purchased a new stake in shares of UMB Financial in the 2nd quarter valued at approximately $14,112,000. Hsbc Holdings PLC raised its holdings in shares of UMB Financial by 290.2% in the 1st quarter. Hsbc Holdings PLC now owns 13,355 shares of the bank’s stock valued at $1,506,000 after purchasing an additional 9,932 shares in the last quarter. Finally, NFJ Investment Group LLC purchased a new stake in shares of UMB Financial during the 2nd quarter worth $47,026,000. Institutional investors and hedge funds own 87.78% of the company’s stock.

Insider Activity at UMB Financial

In related news, insider Robert Brian Beaird sold 1,600 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $144.40, for a total transaction of $231,040.00. Following the completion of the sale, the insider owned 8,943 shares in the company, valued at $1,291,369.20. This represents a 15.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J Mariner Kemper sold 15,062 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $148.55, for a total transaction of $2,237,460.10. Following the transaction, the chief executive officer directly owned 1,491,138 shares in the company, valued at $221,508,549.90. The trade was a 1.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 34,171 shares of company stock valued at $4,919,826 over the last 90 days. 5.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Stephens started coverage on UMB Financial in a research note on Tuesday, July 14th. They issued an “overweight” rating and a $167.00 price target on the stock. Wells Fargo & Company set a $160.00 price objective on UMB Financial and gave the company an “equal weight” rating in a report on Monday, August 10th. Hovde Group raised their target price on UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Truist Financial set a $170.00 target price on UMB Financial and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $170.00 target price (up from $168.00) on shares of UMB Financial in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, UMB Financial has an average rating of “Moderate Buy” and an average price target of $165.00.

UMB Financial Stock Performance

NASDAQ UMBF opened at $143.57 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76. UMB Financial Corporation has a 1 year low of $103.38 and a 1 year high of $153.32. The company has a market capitalization of $10.90 billion, a PE ratio of 11.95, a P/E/G ratio of 0.71 and a beta of 0.77. The company has a fifty day moving average of $144.19 and a two-hundred day moving average of $130.61.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The business had revenue of $778.00 million for the quarter, compared to analysts’ expectations of $727.63 million. During the same quarter in the previous year, the firm earned $2.96 earnings per share. As a group, analysts expect that UMB Financial Corporation will post 13.48 earnings per share for the current year.

UMB Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.4%. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, September 10th. UMB Financial’s dividend payout ratio is presently 14.32%.

UMB Financial 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.