Adage Capital Partners GP L.L.C. Purchases 152,192 Shares of UMB Financial Corporation $UMBF

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in UMB Financial Corporation by 50.4% to own 453,900 shares, valued at approximately $45.9 million, highlighting growing institutional interest in the bank.
• Other hedge funds also boosted their holdings, with Vanguard Group Inc. increasing its stake by 54.0% and Dimensional Fund Advisors LP expanding by 78.3% during the first quarter.
• UMB Financial recently declared a quarterly dividend of $0.40, indicating a 1.3% dividend yield, which is part of a positive outlook supported by strong earnings results exceeding analysts' expectations.

Adage Capital Partners GP L.L.C. grew its stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 50.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 453,900 shares of the bank's stock after acquiring an additional 152,192 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.60% of UMB Financial worth $45,889,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Stifel Financial Corp purchased a new position in shares of UMB Financial in the 4th quarter valued at about $219,000. Schonfeld Strategic Advisors LLC increased its stake in shares of UMB Financial by 188.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 13,160 shares of the bank's stock worth $1,485,000 after buying an additional 8,603 shares during the last quarter. Comerica Bank boosted its holdings in UMB Financial by 13.7% in the fourth quarter. Comerica Bank now owns 34,754 shares of the bank's stock worth $3,922,000 after purchasing an additional 4,201 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in UMB Financial by 0.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,144 shares of the bank's stock worth $3,063,000 after purchasing an additional 202 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of UMB Financial by 70.8% during the fourth quarter. BNP Paribas Financial Markets now owns 38,462 shares of the bank's stock valued at $4,341,000 after acquiring an additional 15,949 shares during the period. Institutional investors and hedge funds own 87.78% of the company's stock.

Insider Transactions at UMB Financial

In related news, insider Robert Brian Beaird sold 1,205 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $116.17, for a total value of $139,984.85. Following the completion of the transaction, the insider directly owned 10,147 shares in the company, valued at approximately $1,178,776.99. This represents a 10.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stacy H. King sold 1,500 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $118.88, for a total value of $178,320.00. Following the completion of the sale, the insider owned 9,472 shares in the company, valued at approximately $1,126,031.36. The trade was a 13.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 678 shares of company stock worth $75,948 and sold 20,845 shares worth $2,440,666. Insiders own 5.45% of the company's stock.

UMB Financial Stock Performance

UMBF stock traded up $1.12 during midday trading on Monday, hitting $125.59. The company's stock had a trading volume of 707,323 shares, compared to its average volume of 650,853. The stock's 50-day moving average price is $111.66 and its 200 day moving average price is $104.42. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. UMB Financial Corporation has a 1 year low of $82.00 and a 1 year high of $129.94. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.42 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The firm had revenue of $689.21 million during the quarter, compared to analysts' expectations of $638.25 million. During the same period in the prior year, the business earned $2.16 EPS. The company's revenue for the quarter was up 76.7% compared to the same quarter last year. On average, equities analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. UMB Financial's payout ratio is 18.39%.

Analyst Upgrades and Downgrades

UMBF has been the topic of several recent analyst reports. Raymond James Financial boosted their price objective on UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Royal Bank Of Canada upped their target price on UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Piper Sandler lifted their price target on UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Barclays raised their target price on UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Truist Financial lifted their target price on UMB Financial from $130.00 to $144.00 and gave the company a "buy" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, UMB Financial presently has an average rating of "Moderate Buy" and an average target price of $133.89.

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.