Oppenheimer Asset Management Inc. Takes Position in UMB Financial Co. (NASDAQ:UMBF)

Oppenheimer Asset Management Inc. bought a new stake in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,908 shares of the bank's stock, valued at approximately $831,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UMBF. Janney Montgomery Scott LLC purchased a new position in shares of UMB Financial in the first quarter worth $252,000. Russell Investments Group Ltd. lifted its stake in UMB Financial by 1.9% during the 1st quarter. Russell Investments Group Ltd. now owns 30,016 shares of the bank's stock valued at $2,611,000 after acquiring an additional 567 shares during the period. US Bancorp DE boosted its holdings in shares of UMB Financial by 5.0% during the 1st quarter. US Bancorp DE now owns 12,980 shares of the bank's stock valued at $1,129,000 after acquiring an additional 622 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of UMB Financial by 9.2% in the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank's stock worth $409,321,000 after acquiring an additional 394,578 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of UMB Financial by 30.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,451 shares of the bank's stock valued at $300,000 after purchasing an additional 809 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Stock Down 0.0 %

Shares of UMBF stock traded down $0.05 during mid-day trading on Tuesday, hitting $121.20. 281,855 shares of the stock traded hands, compared to its average volume of 366,768. The stock has a market cap of $5.91 billion, a P/E ratio of 15.10 and a beta of 0.78. The stock's fifty day moving average is $109.21 and its two-hundred day moving average is $96.34. UMB Financial Co. has a 52-week low of $69.96 and a 52-week high of $128.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.05. The company had revenue of $716.44 million for the quarter, compared to the consensus estimate 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. Equities analysts predict that UMB Financial Co. will post 9.33 EPS for the current year.

UMB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.32%. This is a boost from UMB Financial's previous quarterly dividend of $0.39. UMB Financial's dividend payout ratio (DPR) is currently 19.50%.

Insider Activity at UMB Financial

In other UMB Financial news, Director Kris A. Robbins sold 5,000 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.50, for a total value of $512,500.00. Following the transaction, the director now directly owns 3,211 shares in the company, valued at $329,127.50. The trade was a 60.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Pauls sold 849 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $110.42, for a total value of $93,746.58. Following the completion of the transaction, the executive vice president now owns 6,483 shares in the company, valued at $715,852.86. This represents a 11.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,449 shares of company stock valued at $5,724,799. 8.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler raised their target price on UMB Financial from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, August 1st. Wells Fargo & Company raised their target price on UMB Financial from $107.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Barclays boosted their price target on UMB Financial from $118.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Finally, Citigroup initiated coverage on UMB Financial in a research note on Thursday, October 10th. They issued a "buy" rating and a $127.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $115.00.

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.