Hancock Whitney Corp Makes New $843,000 Investment in UMB Financial Co. (NASDAQ:UMBF)

Hancock Whitney Corp bought a new stake in UMB Financial Co. (NASDAQ:UMBF) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,022 shares of the bank’s stock, valued at approximately $843,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in UMB Financial by 403.7% in the 3rd quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock valued at $91,114,000 after acquiring an additional 694,751 shares in the last quarter. Millennium Management LLC lifted its position in shares of UMB Financial by 567.1% during the second quarter. Millennium Management LLC now owns 733,734 shares of the bank’s stock worth $61,208,000 after purchasing an additional 623,751 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of UMB Financial by 102.7% during the second quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock valued at $62,780,000 after purchasing an additional 381,278 shares during the last quarter. Emerald Advisers LLC acquired a new stake in shares of UMB Financial in the third quarter valued at approximately $12,867,000. Finally, American Century Companies Inc. lifted its holdings in UMB Financial by 6.8% during the 2nd quarter. American Century Companies Inc. now owns 1,752,524 shares of the bank’s stock worth $146,196,000 after buying an additional 111,090 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

Insider Buying and Selling at UMB Financial

In other news, insider Robert Brian Beaird sold 854 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $123.38, for a total transaction of $105,366.52. Following the transaction, the insider now directly owns 5,828 shares in the company, valued at $719,058.64. The trade was a 12.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Greg M. Graves bought 258 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $109.29 per share, with a total value of $28,196.82. Following the completion of the purchase, the director now directly owns 36,244 shares in the company, valued at $3,961,106.76. The trade was a 0.72 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 55,303 shares of company stock valued at $5,830,165 in the last 90 days. 8.85% of the stock is currently owned by company insiders.

UMB Financial Stock Down 1.3 %

UMB Financial stock opened at $125.88 on Wednesday. UMB Financial Co. has a fifty-two week low of $69.96 and a fifty-two week high of $129.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 15.74 and a beta of 0.78. The company’s 50 day simple moving average is $111.68 and its 200 day simple moving average is $98.10.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.05. The business had revenue of $716.44 million during the quarter, compared to analysts’ expectations of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same quarter in the prior year, the company earned $2.02 EPS. As a group, sell-side analysts anticipate that UMB Financial Co. will post 9.21 EPS for the current year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.40 per share. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.27%. UMB Financial’s dividend payout ratio is currently 19.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays lifted their target price on UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price objective on UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Royal Bank of Canada initiated coverage on shares of UMB Financial in a research report on Friday, November 22nd. They set a “sector perform” rating and a $130.00 target price on the stock. Citigroup initiated coverage on shares of UMB Financial in a research report on Thursday, October 10th. They set a “buy” rating and a $127.00 price target for the company. Finally, Piper Sandler raised their price objective on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.00.

UMB Financial Company Profile

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. 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.