Atwood & Palmer Inc. Purchases 6,951 Shares of UMB Financial Co. (NASDAQ:UMBF)

Atwood & Palmer Inc. raised its holdings in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 184.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,729 shares of the bank's stock after buying an additional 6,951 shares during the quarter. Atwood & Palmer Inc.'s holdings in UMB Financial were worth $1,085,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in UMBF. Rothschild Investment LLC increased its position in UMB Financial by 442.0% during the 1st quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock valued at $27,000 after purchasing an additional 221 shares during the period. Versant Capital Management Inc increased its position in shares of UMB Financial by 703.2% during the first quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock valued at $50,000 after buying an additional 436 shares during the period. Covestor Ltd raised its stake in UMB Financial by 28.8% in the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after buying an additional 124 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in UMB Financial in the first quarter worth about $82,000. Finally, Venturi Wealth Management LLC purchased a new stake in UMB Financial in the fourth quarter worth about $96,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO J Mariner Kemper sold 5,412 shares of UMB Financial 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 sale, the chief executive officer now directly owns 288,945 shares in the company, valued at $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.45% of the company's stock.

UMB Financial Stock Down 2.3%

UMB Financial stock traded down $2.41 during mid-day trading on Friday, reaching $100.70. The stock had a trading volume of 407,022 shares, compared to its average volume of 525,356. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 11.20 and a beta of 0.75. UMB Financial Co. has a one year low of $79.25 and a one year high of $129.94. The company has a 50-day moving average price of $99.28 and a two-hundred day moving average price of $107.83.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.37. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. The company had revenue of $563.84 million during the quarter, compared to the consensus estimate of $555.79 million. During the same quarter last year, the firm earned $2.47 earnings per share. The firm's quarterly revenue was up 41.4% compared to the same quarter last year. On average, analysts expect that UMB Financial Co. will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Tuesday, June 10th. UMB Financial's dividend payout ratio is currently 20.13%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Royal Bank of Canada decreased their target price on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Piper Sandler decreased their price objective on UMB Financial from $137.00 to $135.00 and set an "overweight" rating for the company in a report on Friday. Bank of America assumed coverage on shares of UMB Financial in a report on Wednesday, April 16th. They set a "buy" rating and a $105.00 target price on the stock. Morgan Stanley decreased their price target on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Truist Financial initiated coverage on shares of UMB Financial in a research report on Tuesday, May 13th. They set a "buy" rating and a $120.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, UMB Financial presently has an average rating of "Moderate Buy" and a consensus target price of $122.88.

UMB Financial Company 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.