Contravisory Investment Management Inc. Acquires New Position in UMB Financial Co. (NASDAQ:UMBF)

Contravisory Investment Management Inc. bought a new position in UMB Financial Co. (NASDAQ:UMBF - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,571 shares of the bank's stock, valued at approximately $260,000.

Other institutional investors have also recently bought and sold shares of the company. KBC Group NV increased its stake in shares of UMB Financial by 52.5% in the fourth quarter. KBC Group NV now owns 2,004 shares of the bank's stock worth $226,000 after purchasing an additional 690 shares during the period. Vontobel Holding Ltd. grew its holdings in UMB Financial by 107.8% in the 4th quarter. Vontobel Holding Ltd. now owns 5,545 shares of the bank's stock valued at $626,000 after buying an additional 2,877 shares during the last quarter. Rhumbline Advisers increased its position in UMB Financial by 0.3% in the 4th quarter. Rhumbline Advisers now owns 157,642 shares of the bank's stock worth $17,791,000 after buying an additional 510 shares during the period. Congress Asset Management Co. increased its position in UMB Financial by 8.0% in the 4th quarter. Congress Asset Management Co. now owns 125,604 shares of the bank's stock worth $14,176,000 after buying an additional 9,349 shares during the period. Finally, Monument Capital Management lifted its holdings in shares of UMB Financial by 9.6% during the fourth quarter. Monument Capital Management now owns 2,920 shares of the bank's stock worth $330,000 after buying an additional 255 shares during the last quarter. Institutional investors own 87.78% of the company's stock.

Wall Street Analyst Weigh In

UMBF has been the subject of several research reports. Bank of America initiated coverage on shares of UMB Financial in a research note on Wednesday, April 16th. They issued a "buy" rating and a $105.00 target price for the company. Wells Fargo & Company raised their price objective on UMB Financial from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Royal Bank of Canada decreased their price objective on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Truist Financial initiated coverage on UMB Financial in a research report on Tuesday, May 13th. They set a "buy" rating and a $120.00 price objective on the stock. Finally, Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a research 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, UMB Financial has an average rating of "Moderate Buy" and a consensus price target of $123.13.

UMB Financial Price Performance

Shares of UMBF traded down $0.15 during mid-day trading on Thursday, reaching $101.84. The company had a trading volume of 577,982 shares, compared to its average volume of 522,123. The company's 50-day moving average is $98.11 and its 200-day moving average is $108.60. 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 $7.73 billion, a P/E ratio of 11.33 and a beta of 0.72. UMB Financial Co. has a twelve month low of $78.91 and a twelve month high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its earnings results on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, beating the consensus estimate of $2.21 by $0.37. The company had revenue of $563.84 million for the quarter, compared to the consensus estimate of $555.79 million. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. The firm's revenue for the quarter was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.47 EPS. On average, equities analysts anticipate 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. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 annualized dividend and a yield of 1.57%. UMB Financial's dividend payout ratio is 20.13%.

Insider Transactions at UMB Financial

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

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.