Orion Portfolio Solutions LLC Acquires New Position in UMB Financial Co. (NASDAQ:UMBF)

Orion Portfolio Solutions LLC purchased a new position in UMB Financial Co. (NASDAQ:UMBF) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,656 shares of the bank’s stock, valued at approximately $1,120,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Zurich Insurance Group Ltd FI bought a new position in UMB Financial in the 3rd quarter worth approximately $48,531,000. EP Wealth Advisors LLC bought a new position in UMB Financial in the 3rd quarter worth approximately $234,000. Systematic Financial Management LP raised its holdings in shares of UMB Financial by 438.8% during the 3rd quarter. Systematic Financial Management LP now owns 320,550 shares of the bank’s stock worth $33,693,000 after acquiring an additional 261,055 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of UMB Financial during the 3rd quarter worth approximately $83,000. Finally, Holocene Advisors LP purchased a new stake in shares of UMB Financial during the 3rd quarter worth approximately $18,838,000. 87.78% of the stock is currently owned by institutional investors.

UMB Financial Price Performance

UMBF opened at $122.18 on Friday. UMB Financial Co. has a 12-month low of $76.00 and a 12-month high of $129.94. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $116.95 and its 200-day simple moving average is $101.70. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 15.27 and a beta of 0.80.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.05. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. The company had revenue of $716.44 million for the quarter, compared to the consensus estimate of $398.83 million. During the same quarter last year, the company earned $2.02 earnings per share. On average, equities research analysts anticipate that UMB Financial Co. will post 9.21 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.31%. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s dividend payout ratio (DPR) is presently 20.00%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on UMBF. Morgan Stanley began coverage on UMB Financial in a report on Thursday, November 21st. They set an “overweight” rating and a $156.00 price objective on the stock. Royal Bank of Canada initiated coverage on UMB Financial in a report on Friday, November 22nd. They set a “sector perform” rating and a $130.00 price target on the stock. Wells Fargo & Company increased their price target on UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Barclays increased their price target on UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, StockNews.com lowered UMB Financial from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, UMB Financial currently has an average rating of “Moderate Buy” and an average price target of $124.00.

Insider Activity at UMB Financial

In other news, insider Robert Brian Beaird sold 854 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $123.38, for a total value of $105,366.52. Following the completion of the transaction, the insider now directly owns 5,828 shares in the company, valued at $719,058.64. This trade represents a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Greg M. Graves purchased 258 shares of UMB Financial stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $109.29 per share, with a total value of $28,196.82. Following the completion of the transaction, the director now 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. Insiders have sold a total of 74,603 shares of company stock valued at $8,353,950 over the last quarter. 8.85% of the stock is owned by corporate insiders.

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.