Friday Financial Takes Position in UMB Financial Corporation (NASDAQ:UMBF)

Friday Financial acquired a new position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 23,767 shares of the bank's stock, valued at approximately $2,424,000. UMB Financial makes up 1.5% of Friday Financial's holdings, making the stock its 17th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp raised its stake in shares of UMB Financial by 0.4% in the 4th quarter. Truist Financial Corp now owns 19,565 shares of the bank's stock valued at $2,208,000 after purchasing an additional 83 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of UMB Financial by 1.4% in the 1st quarter. SummerHaven Investment Management LLC now owns 9,145 shares of the bank's stock valued at $925,000 after purchasing an additional 122 shares in the last quarter. Covestor Ltd raised its stake in shares of UMB Financial by 28.8% in the 4th quarter. Covestor Ltd now owns 555 shares of the bank's stock valued at $63,000 after purchasing an additional 124 shares in the last quarter. EP Wealth Advisors LLC raised its stake in shares of UMB Financial by 5.8% in the 4th quarter. EP Wealth Advisors LLC now owns 2,361 shares of the bank's stock valued at $266,000 after purchasing an additional 130 shares in the last quarter. Finally, Heritage Family Offices LLP raised its stake in shares of UMB Financial by 7.6% in the 1st quarter. Heritage Family Offices LLP now owns 2,215 shares of the bank's stock valued at $224,000 after purchasing an additional 156 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.

UMB Financial Stock Performance

NASDAQ UMBF traded up $3.55 on Thursday, hitting $106.14. The stock had a trading volume of 481,881 shares, compared to its average volume of 537,853. UMB Financial Corporation has a one year low of $79.94 and a one year high of $129.94. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.20 and a beta of 0.75. The company's 50-day moving average is $101.30 and its two-hundred day moving average is $106.29.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its earnings results on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, topping 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 analysts' expectations of $555.79 million. During the same quarter in the prior year, the firm earned $2.47 EPS. UMB Financial's quarterly revenue was up 41.4% on a year-over-year basis. On average, analysts expect that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial's dividend payout ratio (DPR) is 20.13%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on UMBF. Truist Financial began coverage on shares of UMB Financial in a research note on Tuesday, May 13th. They issued a "buy" rating and a $120.00 target price on the stock. Royal Bank Of Canada cut their target price on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen downgraded shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Morgan Stanley lowered their price objective on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Barclays lowered their price objective 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $122.88.

Insiders Place Their Bets

In other news, CEO J Mariner Kemper sold 5,412 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 288,945 shares in the company, valued at $29,417,490.45. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.45% of the stock is owned by 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.