Nisa Investment Advisors LLC maintained its stake in shares of UMB Financial Corporation (NASDAQ:UMBF) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 24,100 shares of the bank’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in UMB Financial Corporation were worth $1,804,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Tyers Asset Management LLC boosted its stake in shares of UMB Financial Corporation by 11.1% in the first quarter. Tyers Asset Management LLC now owns 1,440 shares of the bank’s stock worth $108,000 after buying an additional 144 shares during the period. Invictus RG acquired a new stake in shares of UMB Financial Corporation during the first quarter worth approximately $111,000. PNC Financial Services Group Inc. boosted its stake in shares of UMB Financial Corporation by 21.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,890 shares of the bank’s stock worth $143,000 after buying an additional 330 shares during the period. Elkfork Partners LLC boosted its stake in shares of UMB Financial Corporation by 11.1% in the first quarter. Elkfork Partners LLC now owns 1,980 shares of the bank’s stock worth $149,000 after buying an additional 198 shares during the period. Finally, Meadow Creek Investment Management LLC boosted its stake in shares of UMB Financial Corporation by 11.1% in the first quarter. Meadow Creek Investment Management LLC now owns 2,520 shares of the bank’s stock worth $190,000 after buying an additional 252 shares during the period. Hedge funds and other institutional investors own 82.01% of the company’s stock.
UMB Financial Corporation (UMBF) traded up 0.26% during midday trading on Friday, hitting $66.36. 121,752 shares of the stock traded hands. UMB Financial Corporation has a 12 month low of $57.31 and a 12 month high of $81.55. The stock has a market cap of $3.32 billion, a PE ratio of 19.17 and a beta of 0.86. The company has a 50-day moving average of $71.70 and a 200-day moving average of $73.98.
UMB Financial Corporation (NASDAQ:UMBF) last released its earnings results on Tuesday, July 25th. The bank reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by $0.02. UMB Financial Corporation had a return on equity of 8.81% and a net margin of 16.59%. The firm had revenue of $247.70 million for the quarter, compared to analyst estimates of $261.84 million. During the same period last year, the firm earned $0.76 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that UMB Financial Corporation will post $3.65 earnings per share for the current year.
UMB Financial Corporation declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 25th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
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A number of analysts have recently commented on UMBF shares. Zacks Investment Research upgraded shares of UMB Financial Corporation from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Wednesday, June 28th. Stephens set a $71.00 price target on shares of UMB Financial Corporation and gave the stock a “hold” rating in a research note on Wednesday, July 26th. FBR & Co reiterated a “hold” rating and issued a $82.00 price target (up previously from $80.00) on shares of UMB Financial Corporation in a research note on Friday, April 21st. BidaskClub upgraded shares of UMB Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, UBS AG upgraded shares of UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. UMB Financial Corporation has a consensus rating of “Hold” and an average price target of $78.20.
In related news, Director Alexander C. Kemper sold 2,500 shares of UMB Financial Corporation stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $74.65, for a total transaction of $186,625.00. Following the completion of the sale, the director now owns 11,309 shares of the company’s stock, valued at $844,216.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman J Mariner Kemper sold 21,600 shares of UMB Financial Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $75.17, for a total value of $1,623,672.00. Following the sale, the chairman now directly owns 186,373 shares of the company’s stock, valued at approximately $14,009,658.41. The disclosure for this sale can be found here. Insiders have sold 27,225 shares of company stock valued at $2,043,235 in the last ninety days. Corporate insiders own 10.09% of the company’s stock.
UMB Financial Corporation Company Profile
UMB Financial Corporation is a diversified financial holding company. The Company supplies banking services, institutional investment management, asset servicing and payment solutions to its customers in the United States and around the globe. The Company’s segments include Bank, which provides a range of banking services to commercial, retail, government and correspondent bank customers through the Company’s branches, call center, Internet banking and automated teller machine network; Institutional Investment Management, which provides equity and fixed income investment strategies in the intermediary and institutional markets, and Asset Servicing, which provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts.
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