American Century Companies Inc. Grows Position in UMB Financial Co. (NASDAQ:UMBF)

American Century Companies Inc. grew its holdings in UMB Financial Co. (NASDAQ:UMBF) by 6.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,752,524 shares of the bank’s stock after acquiring an additional 111,090 shares during the period. American Century Companies Inc. owned about 3.60% of UMB Financial worth $146,196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. ClariVest Asset Management LLC lifted its position in shares of UMB Financial by 161.9% in the second quarter. ClariVest Asset Management LLC now owns 15,888 shares of the bank’s stock valued at $1,325,000 after acquiring an additional 9,821 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of UMB Financial by 11.2% in the second quarter. Texas Permanent School Fund Corp now owns 42,495 shares of the bank’s stock valued at $3,545,000 after acquiring an additional 4,269 shares in the last quarter. Quest Partners LLC lifted its position in shares of 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 acquiring an additional 10,498 shares in the last quarter. Great Lakes Advisors LLC lifted its position in shares of UMB Financial by 0.4% in the second quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank’s stock valued at $4,913,000 after acquiring an additional 210 shares in the last quarter. Finally, Arizona State Retirement System lifted its position 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 valued at $1,081,000 after acquiring an additional 291 shares in the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

UMB Financial Trading Up 1.2 %

Shares of UMBF stock opened at $101.91 on Friday. UMB Financial Co. has a 1 year low of $57.91 and a 1 year high of $105.72. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.73 and a quick ratio of 0.73. The stock’s 50 day simple moving average is $96.58 and its two-hundred day simple moving average is $87.05. The company has a market cap of $4.97 billion, a PE ratio of 13.53 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, July 30th. The bank reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.15. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. The business had revenue of $390.03 million for the quarter, compared to the consensus estimate of $384.96 million. During the same period in the prior year, the business posted $1.93 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts predict that UMB Financial Co. will post 8.98 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.39 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.56 dividend on an annualized basis and a yield of 1.53%. UMB Financial’s dividend payout ratio (DPR) is presently 20.72%.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, Director Tamara Peterman purchased 396 shares of UMB Financial stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $99.56 per share, for a total transaction of $39,425.76. Following the completion of the acquisition, the director now owns 7,407 shares in the company, valued at approximately $737,440.92. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Kris A. Robbins sold 5,000 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Tamara Peterman purchased 396 shares of UMB Financial stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $99.56 per share, for a total transaction of $39,425.76. Following the completion of the acquisition, the director now owns 7,407 shares of the company’s stock, valued at approximately $737,440.92. The disclosure for this purchase can be found here. Insiders have sold a total of 34,846 shares of company stock worth $3,135,439 over the last ninety days. Company insiders own 8.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. 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 report on Friday, May 31st. Piper Sandler increased their price target on UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company increased their price target on UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Barclays increased their price target on UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.33.

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.