Edgestream Partners L.P. Acquires New Holdings in UMB Financial Co. (NASDAQ:UMBF)

Edgestream Partners L.P. purchased a new stake in UMB Financial Co. (NASDAQ:UMBF - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,310 shares of the bank's stock, valued at approximately $693,000.

Other institutional investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC purchased a new stake in UMB Financial during the second quarter worth approximately $3,808,000. BNP Paribas Financial Markets grew its position in shares of UMB Financial by 35.0% in the 1st quarter. BNP Paribas Financial Markets now owns 24,511 shares of the bank's stock valued at $2,132,000 after buying an additional 6,351 shares during the last quarter. Vanguard Group Inc. grew its position in shares of UMB Financial by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank's stock valued at $409,321,000 after buying an additional 394,578 shares during the last quarter. Sei Investments Co. raised its stake in UMB Financial by 9.4% during the 1st quarter. Sei Investments Co. now owns 170,363 shares of the bank's stock worth $14,820,000 after acquiring an additional 14,674 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its position in UMB Financial by 23.4% in the fourth quarter. Rafferty Asset Management LLC now owns 70,896 shares of the bank's stock valued at $5,923,000 after acquiring an additional 13,427 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Kris A. Robbins sold 5,000 shares of UMB Financial stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.50, for a total value of $512,500.00. Following the sale, the director now directly owns 3,211 shares in the company, valued at $329,127.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other UMB Financial news, CEO J Mariner Kemper sold 8,450 shares of the company's stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $83.33, for a total transaction of $704,138.50. Following the transaction, the chief executive officer now directly owns 1,681,904 shares in the company, valued at $140,153,060.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kris A. Robbins sold 5,000 shares of UMB Financial stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.50, for a total transaction of $512,500.00. Following the sale, the director now owns 3,211 shares of the company's stock, valued at $329,127.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,846 shares of company stock worth $3,135,439. Company insiders own 8.85% of the company's stock.

Analyst Upgrades and Downgrades

UMBF has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on UMB Financial from $90.00 to $107.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods upgraded UMB Financial from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $93.00 to $98.00 in a research note on Friday, May 31st. Barclays raised their target price on shares of UMB Financial from $100.00 to $114.00 and gave the stock an "overweight" rating in a research report on Thursday, August 1st. Finally, Piper Sandler upped their price target on shares of UMB Financial from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.33.

UMB Financial Trading Down 1.9 %

NASDAQ:UMBF opened at $106.75 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.12. The stock's 50 day simple moving average is $99.08 and its 200-day simple moving average is $88.15. UMB Financial Co. has a 12-month low of $57.91 and a 12-month high of $109.42. The firm has a market cap of $5.20 billion, a P/E ratio of 14.18 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The bank reported $2.16 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.15. The company had revenue of $390.03 million during the quarter, compared to the consensus estimate of $384.96 million. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. UMB Financial's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.93 EPS. Equities analysts anticipate that UMB Financial Co. will post 8.98 EPS for the current year.

UMB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, September 10th. UMB Financial's dividend payout ratio is presently 20.72%.

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.