Fortress Wealth Management Inc. Invests $1.29 Million in UMB Financial Corporation (NASDAQ:UMBF)

Fortress Wealth Management Inc. purchased a new position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,780 shares of the bank's stock, valued at approximately $1,292,000. UMB Financial accounts for 0.7% of Fortress Wealth Management Inc.'s investment portfolio, making the stock its 29th largest holding.

Other hedge funds also recently modified their holdings of the company. Rothschild Investment LLC lifted its holdings in shares of UMB Financial by 442.0% during the first quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after purchasing an additional 221 shares during the period. Versant Capital Management Inc lifted its holdings in shares of UMB Financial by 703.2% during the first quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock worth $50,000 after purchasing an additional 436 shares during the period. Covestor Ltd lifted its holdings in shares of UMB Financial by 28.8% during the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after purchasing an additional 124 shares during the period. Fifth Third Bancorp lifted its holdings in shares of UMB Financial by 38.1% during the first quarter. Fifth Third Bancorp now owns 624 shares of the bank's stock worth $63,000 after purchasing an additional 172 shares during the period. Finally, Marquette Asset Management LLC acquired a new position in shares of UMB Financial during the first quarter worth $82,000. Institutional investors and hedge funds own 87.78% of the company's stock.

Insiders Place Their Bets

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of UMB Financial stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the sale, the chief executive officer directly owned 288,945 shares of the company's stock, valued at approximately $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.45% of the company's stock.

UMB Financial Trading Up 1.5%

NASDAQ UMBF traded up $1.65 during mid-day trading on Wednesday, reaching $108.49. 480,583 shares of the stock were exchanged, compared to its average volume of 546,162. UMB Financial Corporation has a one year low of $82.00 and a one year high of $129.94. The stock has a 50 day simple moving average of $103.71 and a 200-day simple moving average of $104.54. The stock has a market cap of $8.24 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings results 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. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The firm had revenue of $563.84 million during the quarter, compared to the consensus estimate of $555.79 million. During the same period in the previous year, the firm posted $2.47 earnings per share. The business's revenue was up 41.4% compared to the same quarter last year. On average, analysts anticipate that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.47%. The ex-dividend date was Tuesday, June 10th. UMB Financial's dividend payout ratio (DPR) is currently 20.13%.

Analyst Ratings Changes

A number of equities analysts have recently commented on UMBF shares. Royal Bank Of Canada cut 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 report on Thursday, May 1st. Wells Fargo & Company lifted their price target on shares of UMB Financial from $110.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Bank of America started coverage on shares of UMB Financial in a research note on Wednesday, April 16th. They set a "buy" rating and a $105.00 target price for the company. Wall Street Zen downgraded shares of UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Finally, Truist Financial set a $128.00 target price on shares of UMB Financial and gave the stock a "buy" rating in a research note on Friday, July 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $127.00.

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.