ClariVest Asset Management LLC Boosts Holdings in UMB Financial Co. (NASDAQ:UMBF)

ClariVest Asset Management LLC lifted its holdings in UMB Financial Co. (NASDAQ:UMBF) by 161.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 15,888 shares of the bank’s stock after acquiring an additional 9,821 shares during the quarter. ClariVest Asset Management LLC’s holdings in UMB Financial were worth $1,325,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Texas Permanent School Fund Corp grew its stake in shares of UMB Financial by 11.2% during the second quarter. Texas Permanent School Fund Corp now owns 42,495 shares of the bank’s stock valued at $3,545,000 after buying an additional 4,269 shares during the last quarter. Quest Partners LLC lifted its position in UMB Financial by 144.1% in the second quarter. Quest Partners LLC now owns 17,784 shares of the bank’s stock valued at $1,484,000 after purchasing an additional 10,498 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in shares of UMB Financial by 0.4% during the second quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank’s stock valued at $4,913,000 after purchasing an additional 210 shares during the period. Arizona State Retirement System grew its holdings in shares of UMB Financial by 2.3% in the second quarter. Arizona State Retirement System now owns 12,962 shares of the bank’s stock worth $1,081,000 after purchasing an additional 291 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of UMB Financial by 1.3% in the second quarter. Rhumbline Advisers now owns 163,988 shares of the bank’s stock worth $13,680,000 after buying an additional 2,059 shares during the period. Institutional investors own 87.78% of the company’s stock.

Insider Activity at UMB Financial

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 value of $704,138.50. Following the sale, the chief executive officer now owns 1,681,904 shares in the company, valued at $140,153,060.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO J Mariner Kemper sold 8,450 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $83.33, for a total value of $704,138.50. Following the sale, the chief executive officer now directly owns 1,681,904 shares of the company’s stock, valued at $140,153,060.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kris A. Robbins sold 5,000 shares of UMB Financial stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the transaction, the director now directly owns 3,211 shares of the company’s stock, valued at approximately $329,127.50. The disclosure for this sale can be found here. Insiders sold a total of 34,846 shares of company stock valued at $3,135,439 in the last three months. Company insiders own 8.85% of the company’s stock.

UMB Financial Stock Performance

UMB Financial stock opened at $100.67 on Thursday. UMB Financial Co. has a fifty-two week low of $57.91 and a fifty-two week high of $105.72. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 13.37 and a beta of 0.78. The stock’s 50 day simple moving average is $96.19 and its two-hundred day simple moving average is $86.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.73 and a current ratio of 0.73.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, July 30th. The bank reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.15. The company had revenue of $390.03 million for the quarter, compared to analysts’ expectations of $384.96 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 earnings per share. As a group, analysts expect that UMB Financial Co. will post 8.98 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.56 annualized dividend and a dividend yield of 1.55%. UMB Financial’s payout ratio is 20.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on UMBF shares. Barclays raised their price target on shares of UMB Financial from $100.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods upgraded UMB Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $93.00 to $98.00 in a report on Friday, May 31st. Wells Fargo & Company increased their price objective on UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Piper Sandler lifted their price objective on UMB Financial from $102.00 to $120.00 and gave the stock 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 company has a consensus rating of “Moderate Buy” and an average target price of $102.33.

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.