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

Hancock Whitney Corp purchased a new position in UMB Financial Co. (NASDAQ:UMBF - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,022 shares of the bank's stock, valued at approximately $843,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in UMBF. Principal Financial Group Inc. raised its holdings in shares of UMB Financial by 403.7% in 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 last quarter. Millennium Management LLC raised its holdings in shares of UMB Financial by 567.1% in 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 last quarter. ProShare Advisors LLC raised its holdings in shares of UMB Financial by 102.7% in 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 last quarter. Emerald Advisers LLC purchased a new position in shares of UMB Financial in the third quarter worth $12,867,000. Finally, American Century Companies Inc. raised its holdings in shares of UMB Financial by 6.8% in 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 last quarter. Hedge funds and other institutional investors own 87.78% of the company's stock.

UMB Financial Stock Performance

UMBF stock traded up $0.17 during midday trading on Wednesday, hitting $126.05. 234,928 shares of the stock traded hands, compared to its average volume of 365,035. The firm has a market cap of $6.15 billion, a P/E ratio of 15.74 and a beta of 0.78. 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 stock's fifty day simple moving average is $111.68 and its 200-day simple moving average is $98.10. UMB Financial Co. has a 1-year low of $69.96 and a 1-year high of $129.94.

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

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a $0.40 dividend. This is a positive change from UMB Financial's previous quarterly dividend of $0.39. The ex-dividend date is Tuesday, December 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.27%. UMB Financial's dividend payout ratio (DPR) is 19.50%.

Insider Activity

In other UMB Financial news, Director Greg M. Graves purchased 258 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $109.29 per share, for a total transaction of $28,196.82. Following the completion of the transaction, the director now owns 36,244 shares of the company's stock, valued at $3,961,106.76. The trade was a 0.72 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kris A. Robbins sold 5,000 shares of the business's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.50, for a total transaction of $512,500.00. Following the transaction, the director now owns 3,211 shares in the company, valued at $329,127.50. The trade was a 60.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,303 shares of company stock worth $5,830,165 over the last 90 days. 8.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley began coverage on shares of UMB Financial in a report on Thursday, November 21st. They issued an "overweight" rating and a $156.00 price target for the company. StockNews.com cut shares of UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, November 22nd. Citigroup began coverage on shares of UMB Financial in a report on Thursday, October 10th. They set a "buy" rating and a $127.00 target price for the company. Piper Sandler raised their target price on shares of UMB Financial from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada began coverage on shares of UMB Financial in a report on Friday, November 22nd. They set a "sector perform" rating and a $130.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.