Truist Financial Corp Purchases 8,641 Shares of UMB Financial Corporation $UMBF

Truist Financial Corp boosted its position in UMB Financial Corporation (NASDAQ:UMBF) by 42.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,067 shares of the bank’s stock after buying an additional 8,641 shares during the quarter. Truist Financial Corp’s holdings in UMB Financial were worth $3,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in UMBF. Alliancebernstein L.P. boosted its stake in shares of UMB Financial by 636.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock valued at $156,543,000 after purchasing an additional 1,286,543 shares in the last quarter. Norges Bank purchased a new stake in UMB Financial during the second quarter valued at about $93,829,000. State Street Corp grew its stake in shares of UMB Financial by 7.9% during the second quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock valued at $453,461,000 after buying an additional 313,414 shares during the last quarter. Global Alpha Capital Management Ltd. increased its holdings in shares of UMB Financial by 26.1% in the second quarter. Global Alpha Capital Management Ltd. now owns 644,644 shares of the bank’s stock worth $67,791,000 after buying an additional 133,507 shares during the period. Finally, Tributary Capital Management LLC lifted its position in UMB Financial by 82.9% in the third quarter. Tributary Capital Management LLC now owns 277,754 shares of the bank’s stock valued at $32,872,000 after purchasing an additional 125,924 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at UMB Financial

In other news, CEO J Mariner Kemper sold 15,367 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $114.58, for a total value of $1,760,750.86. Following the sale, the chief executive officer directly owned 1,521,414 shares of the company’s stock, valued at $174,323,616.12. The trade was a 1.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Greg M. Graves acquired 220 shares of UMB Financial stock in a transaction that occurred on Monday, February 2nd. The shares were bought at an average cost of $127.83 per share, with a total value of $28,122.60. Following the transaction, the director owned 39,541 shares in the company, valued at $5,054,526.03. This represents a 0.56% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 34,929 shares of company stock valued at $4,269,924. Corporate insiders own 5.45% of the company’s stock.

Analyst Upgrades and Downgrades

UMBF has been the subject of several recent analyst reports. Weiss Ratings downgraded shares of UMB Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Citigroup boosted their target price on UMB Financial from $120.00 to $138.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. TD Cowen restated a “buy” rating on shares of UMB Financial in a report on Thursday, January 29th. Truist Financial set a $150.00 price target on shares of UMB Financial in a report on Friday, January 30th. Finally, Piper Sandler boosted their price objective on shares of UMB Financial from $145.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $141.00.

UMB Financial Price Performance

Shares of UMBF stock opened at $132.06 on Friday. The business’s fifty day moving average is $120.19 and its 200 day moving average is $116.37. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.94 and a beta of 0.79. UMB Financial Corporation has a twelve month low of $82.00 and a twelve month high of $132.84.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, January 27th. The bank reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.37. The firm had revenue of $469.80 million for the quarter, compared to analysts’ expectations of $677.30 million. UMB Financial had a net margin of 16.90% and a return on equity of 12.14%. The company’s quarterly revenue was up 66.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.49 EPS. Research analysts expect that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 10th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, March 10th. UMB Financial’s dividend payout ratio is 18.84%.

About UMB Financial

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.