UMB Financial Corporation $UMBF Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly reduced its stake in UMB Financial Corporation by 95.6%, owning only 1,174 shares after selling 25,241 shares in Q1.
• Various large investors, including Marshall Wace LLP and Stifel Financial Corp, have increased their positions in UMB Financial during the 4th quarter.
• UMB Financial reported a strong quarterly performance with an EPS of $2.96, exceeding estimates, and announced a quarterly dividend of $0.40, reflecting a 1.3% dividend yield.

AlphaQuest LLC reduced its holdings in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 95.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,174 shares of the bank's stock after selling 25,241 shares during the quarter. AlphaQuest LLC's holdings in UMB Financial were worth $119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in UMBF. Brooklyn Investment Group increased its stake in shares of UMB Financial by 4,840.0% during the 1st quarter. Brooklyn Investment Group now owns 247 shares of the bank's stock valued at $25,000 after acquiring an additional 242 shares during the last quarter. Rothschild Investment LLC increased its position in 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 last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in UMB Financial during the first quarter worth approximately $27,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of UMB Financial in the 1st quarter valued at $35,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of UMB Financial during the 1st quarter valued at $42,000. 87.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays lifted their target price on UMB Financial from $140.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Piper Sandler boosted their target price on UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Raymond James Financial raised their price target on shares of UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. Royal Bank Of Canada boosted their price objective on shares of UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Finally, Truist Financial increased their price objective on shares of UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $132.11.

Insiders Place Their Bets

In other UMB Financial news, EVP Amy Harris sold 500 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $122.02, for a total transaction of $61,010.00. Following the transaction, the executive vice president owned 7,285 shares of the company's stock, valued at $888,915.70. This trade represents a 6.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Greg M. Graves purchased 234 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were purchased at an average cost of $120.44 per share, for a total transaction of $28,182.96. Following the completion of the transaction, the director owned 38,034 shares in the company, valued at approximately $4,580,814.96. This represents a 0.62% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 678 shares of company stock valued at $75,948 and have sold 20,845 shares valued at $2,440,666. 5.45% of the stock is currently owned by corporate insiders.

UMB Financial Stock Up 0.7%

UMB Financial stock traded up $0.84 during midday trading on Friday, hitting $124.47. 692,812 shares of the stock were exchanged, compared to its average volume of 474,331. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. The company has a 50 day moving average price of $111.66 and a two-hundred day moving average price of $104.46. The firm has a market cap of $9.45 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.41 and a beta of 0.77. UMB Financial Corporation has a 1 year low of $82.00 and a 1 year high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its earnings results 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 business had revenue of $689.21 million for the quarter, compared to analyst estimates of $638.25 million. During the same period in the previous year, the company earned $2.16 earnings per share. The company's revenue for the quarter was up 76.7% compared to the same quarter last year. On average, sell-side analysts predict that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. UMB Financial's dividend payout ratio (DPR) is presently 18.39%.

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.