Frontier Wealth Management LLC trimmed its position in UMB Financial Corp (NASDAQ:UMBF) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,092 shares of the bank’s stock after selling 1,000 shares during the period. UMB Financial accounts for 1.4% of Frontier Wealth Management LLC’s investment portfolio, making the stock its 12th biggest position. Frontier Wealth Management LLC owned about 0.29% of UMB Financial worth $9,418,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in UMBF. Oakworth Capital Inc. bought a new position in UMB Financial in the 2nd quarter valued at $34,000. Parkside Investments LLC bought a new stake in shares of UMB Financial during the 2nd quarter worth $56,000. Point72 Asset Management L.P. bought a new stake in shares of UMB Financial during the 2nd quarter worth $66,000. Quantamental Technologies LLC bought a new stake in shares of UMB Financial during the 2nd quarter worth $71,000. Finally, Kavar Capital Partners LLC bought a new stake in shares of UMB Financial during the 2nd quarter worth $82,000. 85.60% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the stock. Zacks Investment Research cut shares of UMB Financial from a “buy” rating to a “hold” rating and set a $69.00 target price on the stock. in a research report on Tuesday, July 2nd. BidaskClub upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Stephens restated a “buy” rating and issued a $75.00 price objective on shares of UMB Financial in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. UMB Financial currently has an average rating of “Hold” and an average target price of $71.25.
Shares of NASDAQ UMBF traded up $0.73 during midday trading on Wednesday, hitting $65.50. 2,118 shares of the company traded hands, compared to its average volume of 222,769. UMB Financial Corp has a 12-month low of $57.00 and a 12-month high of $73.14. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50-day moving average price of $63.82 and a 200 day moving average price of $65.23. The firm has a market cap of $3.21 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.62 and a beta of 0.94.
UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, July 30th. The bank reported $1.17 EPS for the quarter, hitting the consensus estimate of $1.17. UMB Financial had a net margin of 16.17% and a return on equity of 8.68%. The business had revenue of $271.80 million for the quarter, compared to analyst estimates of $271.47 million. During the same quarter in the previous year, the firm posted $1.12 earnings per share. UMB Financial’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts expect that UMB Financial Corp will post 4.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Monday, September 9th. UMB Financial’s payout ratio is currently 29.78%.
UMB Financial Company 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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