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

Atwood & Palmer Inc. raised its stake in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 184.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,729 shares of the bank's stock after acquiring an additional 6,951 shares during the period. Atwood & Palmer Inc.'s holdings in UMB Financial were worth $1,085,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rothschild Investment LLC raised its position in UMB Financial by 442.0% in the first quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after acquiring an additional 221 shares during the period. Versant Capital Management Inc increased its holdings in UMB Financial by 703.2% during the 1st quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock worth $50,000 after acquiring an additional 436 shares during the period. Covestor Ltd increased its holdings in shares of UMB Financial by 28.8% in the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after purchasing an additional 124 shares during the period. Marquette Asset Management LLC purchased a new stake in shares of UMB Financial in the 1st quarter valued at about $82,000. Finally, GAMMA Investing LLC raised its stake in UMB Financial by 121.9% in the first quarter. GAMMA Investing LLC now owns 921 shares of the bank's stock valued at $93,000 after purchasing an additional 506 shares in the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on UMBF shares. Wells Fargo & Company lifted their price target on shares of UMB Financial from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Barclays cut their target price on shares of UMB Financial from $139.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Royal Bank of Canada decreased their target price on shares of 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. Finally, Piper Sandler restated an "overweight" rating and set a $137.00 price target (up from $132.00) on shares of UMB Financial in a report on Friday, May 2nd. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $123.13.

Insider Activity

In other news, CEO J Mariner Kemper sold 5,412 shares of UMB Financial stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the sale, the chief executive officer now directly owns 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.45% of the company's stock.

UMB Financial Stock Performance

UMBF traded up $0.20 during mid-day trading on Tuesday, reaching $106.09. 477,134 shares of the company traded hands, compared to its average volume of 523,421. The stock has a market capitalization of $8.05 billion, a P/E ratio of 11.80 and a beta of 0.75. UMB Financial Co. has a 52-week low of $78.91 and a 52-week high of $129.94. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. The company's fifty day moving average price is $98.28 and its 200-day moving average price is $108.03.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, topping the consensus estimate of $2.21 by $0.37. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. The firm had revenue of $563.84 million during the quarter, compared to analyst estimates of $555.79 million. During the same period in the prior year, the business posted $2.47 EPS. UMB Financial's revenue was up 41.4% on a year-over-year basis. On average, sell-side analysts expect that UMB Financial Co. will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.51%. UMB Financial's payout ratio is 20.13%.

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.