Assetmark Inc. Has $332,000 Stock Position in UMB Financial Co. (NASDAQ:UMBF)

Assetmark Inc. boosted its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 572.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,162 shares of the bank’s stock after purchasing an additional 2,692 shares during the quarter. Assetmark Inc.’s holdings in UMB Financial were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in UMBF. Vanguard Group Inc. boosted 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 worth $409,321,000 after purchasing an additional 394,578 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in UMB Financial by 2.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,954,762 shares of the bank’s stock worth $163,066,000 after buying an additional 49,690 shares during the last quarter. American Century Companies Inc. boosted its holdings 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 last quarter. Dimensional Fund Advisors LP grew its position in shares of UMB Financial by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,689,895 shares of the bank’s stock worth $140,968,000 after buying an additional 100,000 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of UMB Financial by 403.7% in the 3rd quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock valued at $91,114,000 after acquiring an additional 694,751 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UMBF has been the topic of several recent analyst reports. Piper Sandler lifted their price objective on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price target on shares of UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Barclays upped their price objective on shares of UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Citigroup started coverage on UMB Financial in a report on Thursday, October 10th. They set a “buy” rating and a $127.00 target price on the stock. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, UMB Financial has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Insider Buying and Selling at UMB Financial

In related news, CEO J Mariner Kemper sold 24,300 shares of UMB Financial stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total value of $2,473,983.00. Following the sale, the chief executive officer now owns 1,600,904 shares of the company’s stock, valued at approximately $162,988,036.24. The trade was a 1.50 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $109.29 per share, for a total transaction of $28,196.82. Following the acquisition, the director now directly owns 36,244 shares of the company’s stock, valued at $3,961,106.76. This represents a 0.72 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 54,449 shares of company stock worth $5,724,799. Corporate insiders own 8.85% of the company’s stock.

UMB Financial Stock Down 1.1 %

Shares of UMBF stock opened at $121.49 on Friday. UMB Financial Co. has a 12-month low of $69.96 and a 12-month high of $128.73. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average of $108.82 and a 200-day moving average of $95.84. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 15.19 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.05. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. The firm had revenue of $716.44 million during the quarter, compared to analyst estimates of $398.83 million. During the same period in the prior year, the business earned $2.02 EPS. As a group, equities research analysts predict that UMB Financial Co. will post 9.33 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.32%. 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 currently 20.00%.

UMB Financial 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.