Virtus Advisers LLC Takes Position in UMB Financial Corporation $UMBF

Virtus Advisers LLC purchased a new stake in UMB Financial Corporation (NASDAQ:UMBF) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 10,149 shares of the bank’s stock, valued at approximately $1,449,000. UMB Financial accounts for about 0.6% of Virtus Advisers LLC’s investment portfolio, making the stock its 29th largest position.

Other large investors have also recently bought and sold shares of the company. MBM Wealth Consultants LLC purchased a new position in UMB Financial during the 1st quarter worth $26,000. Kemnay Advisory Services Inc. purchased a new stake in shares of UMB Financial in the fourth quarter valued at about $27,000. Axiom Investment Management LLC purchased a new stake in shares of UMB Financial in the first quarter valued at about $28,000. Hilton Head Capital Partners LLC acquired a new stake in shares of UMB Financial during the fourth quarter worth about $34,000. Finally, Torren Management LLC acquired a new stake in shares of UMB Financial during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 87.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on UMBF shares. Truist Financial set a $170.00 price target on UMB Financial and gave the company a “buy” rating in a research report on Tuesday, August 4th. Stephens started coverage on UMB Financial in a research report on Tuesday, July 14th. They set an “overweight” rating and a $167.00 price objective for the company. Wells Fargo & Company set a $160.00 price objective on UMB Financial and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Barclays reiterated an “overweight” rating and issued a $175.00 target price (up from $170.00) on shares of UMB Financial in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $170.00 target price (up from $168.00) on shares of UMB Financial in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, UMB Financial has a consensus rating of “Moderate Buy” and a consensus target price of $165.00.

Insiders Place Their Bets

In related news, insider Phillip James Mason sold 800 shares of UMB Financial stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $147.00, for a total value of $117,600.00. Following the sale, the insider directly owned 8,894 shares in the company, valued at $1,307,418. The trade was a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin Charles Gallagher sold 360 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $145.13, for a total value of $52,246.80. Following the completion of the transaction, the director owned 11,863 shares of the company’s stock, valued at $1,721,677.19. The trade was a 2.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 34,171 shares of company stock worth $4,919,826. Corporate insiders own 5.33% of the company’s stock.

UMB Financial Stock Performance

Shares of NASDAQ:UMBF traded down $0.85 during midday trading on Friday, hitting $145.01. The stock had a trading volume of 100,099 shares, compared to its average volume of 624,063. UMB Financial Corporation has a 1 year low of $103.38 and a 1 year high of $153.32. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average price of $143.63 and a two-hundred day moving average price of $130.28. The company has a market capitalization of $11.01 billion, a PE ratio of 12.07, a P/E/G ratio of 0.72 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.45. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. The firm had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $727.63 million. During the same period in the prior year, the company posted $2.96 earnings per share. As a group, equities analysts predict that UMB Financial Corporation will post 13.48 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The firm 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 $0.50 per share. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. UMB Financial’s dividend payout ratio (DPR) is currently 14.32%.

UMB Financial Company Profile

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.