Commerce Bank Buys 1,357 Shares of UMB Financial Corp (UMBF)

Commerce Bank boosted its stake in shares of UMB Financial Corp (NASDAQ:UMBF) by 3.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 37,461 shares of the bank’s stock after buying an additional 1,357 shares during the quarter. Commerce Bank’s holdings in UMB Financial were worth $2,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. US Bancorp DE grew its holdings in UMB Financial by 22.1% during the first quarter. US Bancorp DE now owns 23,180 shares of the bank’s stock valued at $1,484,000 after purchasing an additional 4,193 shares during the period. New York State Common Retirement Fund grew its holdings in UMB Financial by 3.6% during the first quarter. New York State Common Retirement Fund now owns 46,100 shares of the bank’s stock valued at $2,952,000 after purchasing an additional 1,600 shares during the period. Raymond James & Associates grew its holdings in UMB Financial by 20.3% during the first quarter. Raymond James & Associates now owns 49,990 shares of the bank’s stock valued at $3,201,000 after purchasing an additional 8,425 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in UMB Financial by 10.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 23,625 shares of the bank’s stock valued at $1,513,000 after purchasing an additional 2,187 shares during the period. Finally, Texas Permanent School Fund grew its holdings in UMB Financial by 2.0% during the first quarter. Texas Permanent School Fund now owns 29,976 shares of the bank’s stock valued at $1,920,000 after purchasing an additional 602 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have weighed in on UMBF. Zacks Investment Research lowered UMB Financial from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Stephens set a $74.00 price objective on UMB Financial and gave the company a “buy” rating in a report on Tuesday, April 23rd. BidaskClub raised UMB Financial from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Finally, Raymond James increased their price objective on UMB Financial from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $73.25.



In other UMB Financial news, EVP James Cornelius sold 800 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $69.38, for a total transaction of $55,504.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman J Mariner Kemper sold 5,800 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $71.23, for a total value of $413,134.00. Following the sale, the chairman now owns 188,711 shares in the company, valued at approximately $13,441,884.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,103 shares of company stock worth $1,061,288. Company insiders own 10.45% of the company’s stock.

Shares of NASDAQ UMBF opened at $65.05 on Friday. UMB Financial Corp has a 1-year low of $57.00 and a 1-year high of $82.14. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.88 and a beta of 0.87. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.69 and a quick ratio of 0.69.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.09. The business had revenue of $271.30 million during the quarter, compared to analyst estimates of $262.18 million. UMB Financial had a return on equity of 8.90% and a net margin of 16.66%. UMB Financial’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.18 earnings per share. Analysts anticipate that UMB Financial Corp will post 4.78 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.20 annualized dividend and a dividend yield of 1.84%. UMB Financial’s dividend payout ratio is currently 29.78%.

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About UMB Financial

UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. It operates through four segments: Commercial Banking, Institutional Banking, Personal Banking, and Healthcare Services. The Commercial Banking segment provides commercial loans, commercial credit cards, letters of credit, loan syndication services, consultative services, and various financial options; capital markets services, including asset-based financing, asset securitization, equity and mezzanine financing, factoring, and private and public placement of senior debt, as well as merger and acquisition consulting; and depository, account reconciliation, electronic fund transfer, controlled disbursements, lockbox, and remote deposit capture services.

Further Reading: Special Dividends

Want to see what other hedge funds are holding UMBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UMB Financial Corp (NASDAQ:UMBF).

Institutional Ownership by Quarter for UMB Financial (NASDAQ:UMBF)

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