Accredited Investors Inc. Buys New Holdings in UMB Financial Corporation (NASDAQ:UMBF)

Accredited Investors Inc. acquired 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 13F filing with the Securities and Exchange Commission. The firm acquired 10,921 shares of the bank's stock, valued at approximately $1,104,000.

A number of other hedge funds have also added to or reduced their stakes in UMBF. Freestone Grove Partners LP acquired a new position in shares of UMB Financial in the fourth quarter worth approximately $48,235,000. Adage Capital Partners GP L.L.C. boosted its stake in UMB Financial by 298.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 301,708 shares of the bank's stock valued at $34,051,000 after purchasing an additional 225,908 shares during the last quarter. Stieven Capital Advisors L.P. purchased a new position in UMB Financial during the 1st quarter worth $21,088,000. New York State Common Retirement Fund grew its holdings in shares of UMB Financial by 1,302.5% in the first quarter. New York State Common Retirement Fund now owns 194,586 shares of the bank's stock valued at $19,673,000 after acquiring an additional 180,712 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in UMB Financial by 22,173.3% during the fourth quarter. Point72 Asset Management L.P. now owns 176,627 shares of the bank's stock worth $19,934,000 after buying an additional 175,834 shares during the last quarter. 87.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on UMBF shares. Bank of America initiated coverage on UMB Financial in a report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price target for the company. Royal Bank Of Canada lowered their target price on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Barclays boosted their price objective on UMB Financial from $130.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. 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. Finally, Wells Fargo & Company boosted their price target on UMB Financial from $110.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. One equities research 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. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $127.00.

Insider Buying and Selling at UMB Financial

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 transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.45% of the company's stock.

UMB Financial Trading Down 0.2%

NASDAQ UMBF traded down $0.19 on Thursday, hitting $108.05. 601,238 shares of the stock were exchanged, compared to its average volume of 528,218. The firm has a market capitalization of $8.20 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.44 and a beta of 0.74. The stock has a fifty day moving average price of $103.89 and a two-hundred day moving average price of $104.48. UMB Financial Corporation has a 52-week low of $82.00 and a 52-week high of $129.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77.

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, topping analysts' consensus estimates of $2.21 by $0.37. The company had revenue of $563.84 million during the quarter, compared to analyst estimates of $555.79 million. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The firm's revenue for the quarter was up 41.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.47 earnings per share. Research analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, June 10th. UMB Financial's payout ratio is 20.13%.

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.