Covestor Ltd Grows Stake in UMB Financial Co. (NASDAQ:UMBF)

Covestor Ltd boosted its stake in UMB Financial Co. (NASDAQ:UMBF) by 28.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 555 shares of the bank’s stock after buying an additional 124 shares during the quarter. Covestor Ltd’s holdings in UMB Financial were worth $63,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of UMBF. Invesco Ltd. boosted its stake in UMB Financial by 31.4% during the 4th quarter. Invesco Ltd. now owns 309,980 shares of the bank’s stock worth $34,984,000 after purchasing an additional 74,038 shares during the last quarter. Bank of Montreal Can boosted its position in UMB Financial by 16.5% during the fourth quarter. Bank of Montreal Can now owns 6,270 shares of the bank’s stock worth $708,000 after acquiring an additional 886 shares during the last quarter. Federated Hermes Inc. grew its stake in UMB Financial by 107.7% during the 4th quarter. Federated Hermes Inc. now owns 118,527 shares of the bank’s stock valued at $13,377,000 after acquiring an additional 61,468 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in UMB Financial during the 4th quarter valued at about $2,190,000. Finally, Wells Fargo & Company MN raised its holdings in UMB Financial by 16.4% in the 4th quarter. Wells Fargo & Company MN now owns 51,929 shares of the bank’s stock valued at $5,861,000 after acquiring an additional 7,318 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 subject of a number of analyst reports. StockNews.com upgraded UMB Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 3rd. Barclays dropped their target price on UMB Financial from $139.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Piper Sandler lifted their price target on UMB Financial from $142.00 to $143.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $128.00 price objective on shares of UMB Financial in a report on Thursday, January 30th. Finally, Wells Fargo & Company cut their price objective on shares of UMB Financial from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, UMB Financial presently has an average rating of “Moderate Buy” and an average target price of $124.57.

UMB Financial Trading Up 2.7 %

NASDAQ UMBF opened at $88.74 on Tuesday. UMB Financial Co. has a 12 month low of $76.00 and a 12 month high of $129.94. The stock has a market capitalization of $6.45 billion, a P/E ratio of 9.87 and a beta of 0.71. The firm’s 50-day moving average is $102.66 and its two-hundred day moving average is $111.25. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. During the same quarter in the previous year, the company posted $2.29 earnings per share. On average, sell-side analysts anticipate that UMB Financial Co. will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $0.40 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.80%. UMB Financial’s payout ratio is presently 17.80%.

Insider Activity at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 3,500 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $108.61, for a total transaction of $380,135.00. Following the sale, the chief executive officer now directly owns 334,347 shares in the company, valued at $36,313,427.67. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Charles Gallagher sold 527 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $114.13, for a total transaction of $60,146.51. Following the completion of the transaction, the director now directly owns 13,010 shares of the company’s stock, valued at approximately $1,484,831.30. The trade was a 3.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.45% of the company’s stock.

About UMB Financial

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.