HBK Investments L P Acquires New Stake in UMB Financial Co. (NASDAQ:UMBF)

HBK Investments L P acquired a new stake in shares of UMB Financial Co. (NASDAQ:UMBF) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 35,316 shares of the bank’s stock, valued at approximately $3,712,000. HBK Investments L P owned about 0.07% of UMB Financial as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Principal Financial Group Inc. lifted its position in UMB Financial by 403.7% during the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock worth $91,114,000 after buying an additional 694,751 shares during the period. Millennium Management LLC lifted its position in 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 buying an additional 623,751 shares during the period. ProShare Advisors LLC lifted its position in UMB Financial by 102.7% during the second quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock worth $62,780,000 after buying an additional 381,278 shares during the period. Emerald Advisers LLC purchased a new position in UMB Financial during the third quarter worth about $12,867,000. Finally, American Century Companies Inc. lifted its position in UMB Financial by 6.8% during the second 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 during the period. Institutional investors and hedge funds own 87.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UMBF. Royal Bank of Canada assumed coverage on 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. Piper Sandler raised their price objective on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. StockNews.com downgraded UMB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 22nd. Morgan Stanley assumed coverage on UMB Financial in a report on Thursday, November 21st. They issued an “overweight” rating and a $156.00 price objective on the stock. Finally, Citigroup assumed coverage on UMB Financial in a report on Thursday, October 10th. They issued a “buy” rating and a $127.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $122.00.

UMB Financial Stock Performance

Shares of NASDAQ:UMBF opened at $126.05 on Friday. The company has a market cap of $6.15 billion, a P/E ratio of 15.76 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.76 and a current ratio of 0.76. UMB Financial Co. has a one year low of $69.96 and a one year high of $129.94. The business’s 50-day simple moving average is $112.43 and its 200 day simple moving average is $98.48.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, beating the consensus estimate of $2.20 by $0.05. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. The business had revenue of $716.44 million for the quarter, compared to the consensus estimate of $398.83 million. During the same period last year, the business posted $2.02 EPS. On average, sell-side analysts forecast that UMB Financial Co. will post 9.21 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Tuesday, December 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s dividend payout ratio (DPR) is 19.50%.

Insider Buying and Selling at UMB Financial

In other news, insider Robert Brian Beaird sold 854 shares of UMB Financial stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total value of $105,366.52. Following the completion of the transaction, the insider now owns 5,828 shares in the company, valued at approximately $719,058.64. This trade represents a 12.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greg M. Graves bought 258 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 36,244 shares in the company, valued at approximately $3,961,106.76. This represents a 0.72 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 55,303 shares of company stock worth $5,830,165 in the last 90 days. 8.85% of the stock is owned by corporate insiders.

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.