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

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

A number of other institutional investors and hedge funds have also recently modified their holdings of UMBF. Rothschild Investment LLC boosted its holdings 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 acquiring an additional 221 shares during the period. Versant Capital Management Inc boosted 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 valued at $50,000 after acquiring an additional 436 shares during the period. Covestor Ltd boosted its holdings in UMB Financial by 28.8% during the 4th quarter. Covestor Ltd now owns 555 shares of the bank's stock valued at $63,000 after acquiring an additional 124 shares during the period. Marquette Asset Management LLC purchased a new position in UMB Financial during the 1st quarter valued at $82,000. Finally, Venturi Wealth Management LLC purchased a new position in UMB Financial during the 4th quarter valued at $96,000. Hedge funds and other institutional investors own 87.78% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on UMB Financial from $105.00 to $110.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Barclays dropped their price objective on UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Bank of America assumed coverage on UMB Financial in a report on Wednesday, April 16th. They set a "buy" rating and a $105.00 price objective for the company. Royal Bank of Canada dropped their price objective on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Finally, Truist Financial started coverage on UMB Financial in a report on Tuesday, May 13th. They issued a "buy" rating and a $120.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, UMB Financial presently has a consensus rating of "Moderate Buy" and an average target price of $123.13.

UMB Financial Stock Up 2.9%

Shares of UMBF stock traded up $2.95 during mid-day trading on Friday, hitting $104.79. The stock had a trading volume of 545,326 shares, compared to its average volume of 523,974. UMB Financial Co. has a 12-month low of $78.91 and a 12-month high of $129.94. The firm has a market capitalization of $7.96 billion, a P/E ratio of 11.66 and a beta of 0.75. The firm's 50-day moving average is $98.21 and its two-hundred day moving average is $108.27. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.37. The business 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 13.73% and a net margin of 15.76%. The business's revenue for the quarter was up 41.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.47 EPS. On average, analysts predict that UMB Financial Co. 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 Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial's payout ratio is 20.13%.

Insider Transactions at UMB Financial

In other 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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.45% of the company's stock.

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.