Jupiter Topco LLC Purchases New Position in UMB Financial Corporation $UMBF

Jupiter Topco LLC acquired a new position in UMB Financial Corporation (NASDAQ:UMBF) during the second quarter, Holdings Channel reports. The institutional investor acquired 238,162 shares of the bank’s stock, valued at approximately $34,002,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UMBF. Mercer Global Advisors Inc. ADV increased its stake in shares of UMB Financial by 4.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,563 shares of the bank’s stock worth $295,000 after purchasing an additional 102 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of UMB Financial by 3.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,910 shares of the bank’s stock valued at $335,000 after purchasing an additional 108 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of UMB Financial by 1.8% in the 4th quarter. Concurrent Investment Advisors LLC now owns 6,424 shares of the bank’s stock valued at $739,000 after purchasing an additional 112 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of UMB Financial by 1.7% in the 1st quarter. First Citizens Bank & Trust Co. now owns 7,272 shares of the bank’s stock valued at $820,000 after purchasing an additional 125 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in UMB Financial by 3.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,908 shares of the bank’s stock worth $450,000 after purchasing an additional 129 shares in the last quarter. Institutional investors own 87.78% of the company’s stock.

Analyst Ratings Changes

UMBF has been the topic of several analyst reports. Zacks Research downgraded shares of UMB Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Citigroup reiterated a “neutral” rating and set a $162.00 price target (up from $144.00) on shares of UMB Financial in a research note on Friday, July 31st. Barclays reissued an “overweight” rating and issued a $175.00 price objective (up from $170.00) on shares of UMB Financial in a research note on Monday, August 3rd. TD Cowen restated a “buy” rating and issued a $166.00 target price (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. started coverage on UMB Financial in a research report on Thursday, August 20th. They set an “overweight” rating and a $180.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.54.

UMB Financial Price Performance

NASDAQ UMBF opened at $144.59 on Friday. UMB Financial Corporation has a twelve month low of $103.38 and a twelve month high of $153.32. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $10.98 billion, a PE ratio of 12.04, a P/E/G ratio of 0.71 and a beta of 0.77. The stock has a 50-day simple moving average of $144.86 and a 200 day simple moving average of $130.85.

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

UMB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be given a $0.50 dividend. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. UMB Financial’s dividend payout ratio (DPR) is currently 14.32%.

Insider Buying and Selling

In related news, CEO J Mariner Kemper sold 15,062 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $148.55, for a total transaction of $2,237,460.10. Following the completion of the transaction, the chief executive officer directly owned 1,491,138 shares in the company, valued at $221,508,549.90. This represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin Charles Gallagher sold 360 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $145.13, for a total transaction of $52,246.80. Following the transaction, the director owned 11,863 shares of the company’s stock, valued at approximately $1,721,677.19. The trade was a 2.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 34,171 shares of company stock valued at $4,919,826 in the last ninety days. Company insiders own 5.33% of the company’s stock.

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.