Creative Planning Raises Stock Holdings in UMB Financial Co. (NASDAQ:UMBF)

Posted by Defense World Staff on Oct 12th, 2023

Creative Planning boosted its holdings in UMB Financial Co. (NASDAQ:UMBF – Free Report) by 30.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,926 shares of the bank’s stock after purchasing an additional 7,649 shares during the period. Creative Planning owned about 0.07% of UMB Financial worth $2,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its position in shares of UMB Financial by 81.2% during the 1st quarter. State Street Corp now owns 3,708,145 shares of the bank’s stock worth $361,563,000 after purchasing an additional 1,661,449 shares during the period. Wellington Management Group LLP raised its position in shares of UMB Financial by 107.8% during the 1st quarter. Wellington Management Group LLP now owns 1,019,048 shares of the bank’s stock worth $58,819,000 after purchasing an additional 528,715 shares during the period. Norges Bank acquired a new stake in shares of UMB Financial during the 4th quarter worth approximately $37,184,000. Goldman Sachs Group Inc. raised its position in shares of UMB Financial by 104.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 462,357 shares of the bank’s stock worth $39,808,000 after purchasing an additional 236,176 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of UMB Financial by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,356,268 shares of the bank’s stock worth $367,190,000 after purchasing an additional 174,204 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

UMBF has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on UMB Financial from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 4th. Keefe, Bruyette & Woods increased their price target on UMB Financial from $72.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. StockNews.com initiated coverage on UMB Financial in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. Piper Sandler upgraded UMB Financial from a “neutral” rating to an “overweight” rating and set a $74.00 target price on the stock in a research report on Wednesday, September 13th. Finally, Raymond James raised their target price on UMB Financial from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $78.00.

Check Out Our Latest Report on UMB Financial

UMB Financial Stock Performance

Shares of NASDAQ UMBF opened at $62.98 on Thursday. The stock has a fifty day moving average price of $63.90 and a two-hundred day moving average price of $62.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $3.06 billion, a P/E ratio of 8.27 and a beta of 0.82. UMB Financial Co. has a 1 year low of $50.68 and a 1 year high of $92.70.

UMB Financial (NASDAQ:UMBF – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The bank reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.06). The firm had revenue of $370.27 million for the quarter, compared to the consensus estimate of $374.60 million. UMB Financial had a net margin of 18.00% and a return on equity of 13.85%. Research analysts forecast that UMB Financial Co. will post 7.35 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Friday, September 8th. UMB Financial’s dividend payout ratio is presently 19.95%.

Insider Transactions at UMB Financial

In other news, CEO J Mariner Kemper sold 4,280 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $63.76, for a total transaction of $272,892.80. Following the completion of the sale, the chief executive officer now directly owns 1,903,888 shares of the company’s stock, valued at approximately $121,391,898.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Nikki Farentino Newton sold 1,300 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $68.87, for a total value of $89,531.00. Following the completion of the sale, the insider now owns 8,285 shares of the company’s stock, valued at $570,587.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO J Mariner Kemper sold 4,280 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $63.76, for a total value of $272,892.80. Following the completion of the sale, the chief executive officer now directly owns 1,903,888 shares of the company’s stock, valued at approximately $121,391,898.88. The disclosure for this sale can be found here. Insiders sold a total of 10,318 shares of company stock valued at $665,233 in the last three months. 9.77% of the stock is currently owned by corporate insiders.

UMB Financial Company Profile

(Free Report)

UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.