UMB Financial Corporation (NASDAQ:UMBF) Shares Bought by Amalgamated Bank

Amalgamated Bank lifted its stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 47.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,949 shares of the bank's stock after buying an additional 9,588 shares during the quarter. Amalgamated Bank's holdings in UMB Financial were worth $3,028,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in UMBF. Proficio Capital Partners LLC acquired a new stake in UMB Financial during the fourth quarter valued at approximately $1,752,000. US Bancorp DE raised its position in shares of UMB Financial by 46.9% during the 4th quarter. US Bancorp DE now owns 13,105 shares of the bank's stock valued at $1,479,000 after acquiring an additional 4,182 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of UMB Financial during the 4th quarter valued at approximately $103,000. Atria Investments Inc lifted its stake in UMB Financial by 10.3% during the fourth quarter. Atria Investments Inc now owns 8,406 shares of the bank's stock worth $949,000 after purchasing an additional 787 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in UMB Financial in the fourth quarter worth $11,357,000. Institutional investors own 87.78% of the company's stock.

UMB Financial Stock Performance

UMBF stock traded up $0.92 on Friday, reaching $110.35. The company's stock had a trading volume of 301,436 shares, compared to its average volume of 544,515. UMB Financial Corporation has a 52 week low of $81.01 and a 52 week high of $129.94. 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 market capitalization of $8.38 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.74. The firm has a fifty day moving average of $103.30 and a two-hundred day moving average of $105.56.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.37. The company had revenue of $563.84 million during the quarter, compared to analysts' expectations of $555.79 million. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. The company's revenue for the quarter was up 41.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.47 earnings per share. As a group, analysts predict that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.60 annualized dividend and a yield of 1.45%. UMB Financial's payout ratio is 20.13%.

Analyst Ratings Changes

A number of research firms have recently issued reports on UMBF. Bank of America initiated coverage on shares of UMB Financial in a research report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price target on the stock. Wall Street Zen cut shares of UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Barclays decreased their target price on UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Truist Financial started coverage on UMB Financial in a research report on Tuesday, May 13th. They set a "buy" rating and a $120.00 price target on the stock. Finally, Piper Sandler set a $135.00 price target on UMB Financial and gave the stock an "overweight" rating in a report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, UMB Financial presently has a consensus rating of "Moderate Buy" and an average price target of $122.88.

Insider Activity at UMB Financial

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 directly owned 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. Company insiders own 5.45% of the company's stock.

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.