Prudential Financial Inc. raised its holdings in shares of UMB Financial Corp (NASDAQ:UMBF) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,038 shares of the bank’s stock after buying an additional 1,840 shares during the period. Prudential Financial Inc. owned about 0.06% of UMB Financial worth $1,977,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC raised its holdings in UMB Financial by 8.8% in the second quarter. Janus Henderson Group PLC now owns 337,424 shares of the bank’s stock valued at $22,209,000 after acquiring an additional 27,381 shares in the last quarter. Hillcrest Asset Management LLC raised its holdings in UMB Financial by 36.0% in the first quarter. Hillcrest Asset Management LLC now owns 190,498 shares of the bank’s stock valued at $12,199,000 after acquiring an additional 50,418 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in UMB Financial by 13.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,921 shares of the bank’s stock valued at $192,000 after acquiring an additional 355 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in UMB Financial by 3.6% in the second quarter. JPMorgan Chase & Co. now owns 442,572 shares of the bank’s stock valued at $28,572,000 after acquiring an additional 15,478 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. raised its holdings in UMB Financial by 30.1% in the second quarter. Global Alpha Capital Management Ltd. now owns 366,316 shares of the bank’s stock valued at $24,111,000 after acquiring an additional 84,802 shares in the last quarter. 85.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of UMB Financial stock traded up $0.88 during trading on Thursday, hitting $66.30. 3,944 shares of the stock were exchanged, compared to its average volume of 166,109. The stock’s fifty day moving average is $63.92 and its 200 day moving average is $65.32. The stock has a market cap of $3.27 billion, a PE ratio of 16.41, a P/E/G ratio of 2.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 0.68. UMB Financial Corp has a 12 month low of $57.00 and a 12 month high of $74.59.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Monday, September 9th. UMB Financial’s dividend payout ratio is presently 29.78%.
In other UMB Financial news, Director Kris A. Robbins sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $62.57, for a total transaction of $50,056.00. Following the completion of the sale, the director now directly owns 4,796 shares of the company’s stock, valued at $300,085.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman J Mariner Kemper sold 3,145 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $65.64, for a total transaction of $206,437.80. Following the sale, the chairman now directly owns 188,862 shares of the company’s stock, valued at $12,396,901.68. The disclosure for this sale can be found here. Insiders have sold 4,257 shares of company stock valued at $276,615 over the last ninety days. Insiders own 10.45% of the company’s stock.
Several analysts recently issued reports on the stock. Zacks Investment Research cut shares of UMB Financial from a “buy” rating to a “hold” rating and set a $69.00 price target on the stock. in a report on Tuesday, July 2nd. Stephens reaffirmed a “buy” rating and issued a $75.00 price target on shares of UMB Financial in a report on Monday. Finally, BidaskClub cut shares of UMB Financial from a “hold” rating to a “sell” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $71.25.
UMB Financial Profile
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.
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