Bank of America Corp DE Has $48.52 Million Stock Holdings in UMB Financial Co. (NASDAQ:UMBF)

Bank of America Corp DE reduced its stake in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 27.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 429,919 shares of the bank's stock after selling 166,394 shares during the quarter. Bank of America Corp DE owned about 0.88% of UMB Financial worth $48,521,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of UMBF. Barclays PLC boosted its stake in UMB Financial by 278.8% in the third quarter. Barclays PLC now owns 231,482 shares of the bank's stock valued at $24,329,000 after acquiring an additional 170,375 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in UMB Financial in the fourth quarter valued at approximately $1,443,000. Park Avenue Securities LLC bought a new position in UMB Financial in the fourth quarter valued at approximately $284,000. USA Financial Formulas boosted its stake in UMB Financial by 124.7% in the fourth quarter. USA Financial Formulas now owns 483 shares of the bank's stock valued at $55,000 after acquiring an additional 268 shares during the last quarter. Finally, Heritage Family Offices LLP boosted its stake in UMB Financial by 6.5% in the fourth quarter. Heritage Family Offices LLP now owns 2,059 shares of the bank's stock valued at $232,000 after acquiring an additional 125 shares during the last quarter. 87.78% of the stock is owned by institutional investors.

UMB Financial Stock Up 0.5%

Shares of NASDAQ:UMBF traded up $0.56 during midday trading on Friday, reaching $107.05. 392,203 shares of the company were exchanged, compared to its average volume of 517,538. UMB Financial Co. has a fifty-two week low of $78.56 and a fifty-two week high of $129.94. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $97.78 and a two-hundred day simple moving average of $109.93. The firm has a market cap of $8.13 billion, a PE ratio of 11.91 and a beta of 0.72.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.37. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. The business had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. During the same period last year, the business posted $2.47 earnings per share. The firm's quarterly revenue was up 41.4% on a year-over-year basis. As a group, sell-side analysts forecast that UMB Financial Co. will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 annualized dividend and a yield of 1.49%. UMB Financial's payout ratio is currently 20.13%.

Insider Buying and Selling 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 of the company's stock, valued at $36,313,427.67. The trade was a 1.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 5.45% of the company's stock.

Wall Street Analysts Forecast Growth

UMBF has been the topic of a number of recent research reports. Truist Financial initiated coverage on shares of UMB Financial in a research note on Tuesday. They issued a "buy" rating and a $120.00 price objective on the stock. Royal Bank of Canada reduced their price target on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Piper Sandler reissued an "overweight" rating and set a $137.00 price target (up from $132.00) on shares of UMB Financial in a research report on Friday, May 2nd. Barclays reduced their price target on shares of UMB Financial from $139.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com cut shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $120.33.

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.