Adage Capital Partners GP L.L.C. Purchases 225,908 Shares of UMB Financial Co. (NASDAQ:UMBF)

Adage Capital Partners GP L.L.C. grew its position in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 298.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,708 shares of the bank's stock after purchasing an additional 225,908 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.62% of UMB Financial worth $34,051,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MML Investors Services LLC acquired a new stake in UMB Financial in the 3rd quarter valued at about $208,000. Barclays PLC lifted its position in UMB Financial by 278.8% during the third quarter. Barclays PLC now owns 231,482 shares of the bank's stock worth $24,329,000 after buying an additional 170,375 shares in the last quarter. Principal Financial Group Inc. grew its holdings in 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 buying an additional 694,751 shares in the last quarter. Ellenbecker Investment Group acquired a new stake in shares of UMB Financial in the 4th quarter worth $212,000. Finally, Assenagon Asset Management S.A. acquired a new position in UMB Financial in the 4th quarter valued at about $1,443,000. Hedge funds and other institutional investors own 87.78% of the company's stock.

Insiders Place Their Bets

In related news, Director Kevin Charles Gallagher sold 527 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $114.13, for a total value of $60,146.51. Following the completion of the sale, the director now directly owns 13,010 shares in the company, valued at approximately $1,484,831.30. This represents a 3.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO J Mariner Kemper sold 3,500 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $108.61, for a total transaction of $380,135.00. Following the completion of the sale, the chief executive officer now owns 334,347 shares of the company's stock, valued at $36,313,427.67. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.45% of the stock is owned by insiders.

UMB Financial Trading Down 3.0 %

NASDAQ UMBF traded down $2.92 during mid-day trading on Wednesday, reaching $94.90. 518,445 shares of the stock were exchanged, compared to its average volume of 522,901. The business's fifty day simple moving average is $98.39 and its 200 day simple moving average is $110.41. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $7.20 billion, a PE ratio of 10.56 and a beta of 0.71. UMB Financial Co. has a 1-year low of $77.00 and a 1-year high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.37. The business had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. The company's revenue was up 41.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.47 EPS. On average, research analysts anticipate that UMB Financial Co. will post 9.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Barclays reduced their price target on shares of UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. StockNews.com raised UMB Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 3rd. Wells Fargo & Company dropped their price target on shares of UMB Financial from $120.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Finally, Piper Sandler increased their target price on UMB Financial from $142.00 to $143.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, UMB Financial currently has an average rating of "Moderate Buy" and a consensus target price of $122.13.

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.