Diversified Portfolios Inc. Takes $2.18 Million Position in UMB Financial Corporation (NASDAQ:UMBF)

Diversified Portfolios Inc. acquired a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,606 shares of the bank's stock, valued at approximately $2,184,000.

A number of other institutional investors and hedge funds also recently modified their holdings of UMBF. Dynamic Technology Lab Private Ltd purchased a new stake in shares of UMB Financial in the fourth quarter valued at $2,190,000. US Bancorp DE lifted its holdings in shares of UMB Financial by 46.9% in the fourth quarter. US Bancorp DE now owns 13,105 shares of the bank's stock valued at $1,479,000 after purchasing an additional 4,182 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of UMB Financial by 16.2% in the fourth quarter. Northern Trust Corp now owns 637,072 shares of the bank's stock valued at $71,900,000 after purchasing an additional 88,705 shares in the last quarter. Inceptionr LLC purchased a new stake in shares of UMB Financial in the fourth quarter valued at $305,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of UMB Financial in the fourth quarter valued at $1,752,000. Institutional investors and hedge funds own 87.78% of the company's stock.

UMB Financial Trading Up 1.2%

NASDAQ UMBF opened at $100.66 on Monday. UMB Financial Corporation has a 1-year low of $79.88 and a 1-year high of $129.94. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $7.64 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.17 and a beta of 0.75. The firm's fifty day simple moving average is $100.55 and its 200-day simple moving average is $106.50.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.37. The business 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 13.64% and a return on equity of 12.09%. UMB Financial'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 posted $2.47 earnings per share. As a group, sell-side analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on UMBF. Bank of America began coverage on UMB Financial in a report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 target price for the company. Wall Street Zen lowered UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Truist Financial began 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. Barclays reduced their target price on UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Royal Bank Of Canada dropped their price target on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $122.88.

Insiders Place Their Bets

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $101.81, for a total transaction of $550,995.72. Following the transaction, the chief executive officer now directly owns 288,945 shares of the company's stock, valued at $29,417,490.45. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company 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.

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