Sciencast Management LP purchased a new position in UMB Financial Corp (NASDAQ:UMBF) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 10,778 shares of the bank’s stock, valued at approximately $493,000.
A number of other large investors have also modified their holdings of UMBF. Nisa Investment Advisors LLC boosted its holdings in shares of UMB Financial by 1.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 17,325 shares of the bank’s stock valued at $804,000 after acquiring an additional 300 shares during the last quarter. State of Alaska Department of Revenue lifted its position in UMB Financial by 4.6% during the first quarter. State of Alaska Department of Revenue now owns 7,429 shares of the bank’s stock valued at $344,000 after purchasing an additional 329 shares during the period. Diversified Trust Co boosted its holdings in UMB Financial by 4.8% in the second quarter. Diversified Trust Co now owns 8,650 shares of the bank’s stock valued at $446,000 after purchasing an additional 400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in UMB Financial by 19.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,479 shares of the bank’s stock valued at $161,000 after purchasing an additional 558 shares during the last quarter. Finally, Strs Ohio grew its position in UMB Financial by 16.2% during the 1st quarter. Strs Ohio now owns 4,300 shares of the bank’s stock worth $199,000 after purchasing an additional 600 shares during the period. Institutional investors own 84.61% of the company’s stock.
In other news, CFO Ram Shankar acquired 782 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of $47.01 per share, for a total transaction of $36,761.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.24% of the stock is owned by corporate insiders.
UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, July 28th. The bank reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.96. The firm had revenue of $298.69 million for the quarter, compared to analysts’ expectations of $282.63 million. UMB Financial had a net margin of 14.62% and a return on equity of 7.22%. During the same quarter last year, the company earned $1.17 EPS. On average, sell-side analysts expect that UMB Financial Corp will post 2.46 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, September 9th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.49%. UMB Financial’s dividend payout ratio is currently 24.85%.
A number of brokerages have recently commented on UMBF. BidaskClub downgraded UMB Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, July 8th. Wells Fargo & Co raised shares of UMB Financial from an “underweight” rating to an “equal weight” rating and set a $52.00 price objective on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $66.67.
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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