Diversified Portfolios Inc. Buys Shares of 21,606 UMB Financial Corporation (NASDAQ:UMBF)

Diversified Portfolios Inc. purchased a new position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,606 shares of the bank's stock, valued at approximately $2,184,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in UMBF. Freestone Grove Partners LP bought a new stake in shares of UMB Financial in the fourth quarter worth about $48,235,000. Adage Capital Partners GP L.L.C. grew its holdings in UMB Financial by 298.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 301,708 shares of the bank's stock valued at $34,051,000 after buying an additional 225,908 shares in the last quarter. Point72 Asset Management L.P. increased its stake in UMB Financial by 22,173.3% in the 4th quarter. Point72 Asset Management L.P. now owns 176,627 shares of the bank's stock worth $19,934,000 after acquiring an additional 175,834 shares during the last quarter. Norges Bank purchased a new stake in shares of UMB Financial during the 4th quarter worth approximately $15,835,000. Finally, Wellington Management Group LLP raised its holdings in shares of UMB Financial by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 2,021,285 shares of the bank's stock worth $228,122,000 after acquiring an additional 102,104 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors.

UMB Financial Trading Up 3.5%

NASDAQ:UMBF traded up $3.55 during mid-day trading on Thursday, hitting $106.14. 481,881 shares of the stock traded hands, compared to its average volume of 537,853. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. UMB Financial Corporation has a 52 week low of $79.94 and a 52 week high of $129.94. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.20 and a beta of 0.75. The firm's 50 day moving average is $101.30 and its two-hundred day moving average is $106.29.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.37. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. The firm had revenue of $563.84 million for the quarter, compared to analysts' expectations of $555.79 million. During the same quarter in the prior year, the firm posted $2.47 earnings per share. The company's quarterly revenue was up 41.4% on a year-over-year basis. On average, equities research analysts predict that UMB Financial Corporation will post 9.66 earnings per share for the current 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 paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.51%. UMB Financial's payout ratio is 20.13%.

Insiders Place Their Bets

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $29,417,490.45. The trade was a 1.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.45% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on UMBF shares. Morgan Stanley reduced their price target on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Wall Street Zen downgraded shares of UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Barclays decreased 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 report on Tuesday, April 8th. Royal Bank Of Canada dropped their price target 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. Finally, Truist Financial initiated coverage on UMB Financial in a research note on Tuesday, May 13th. They set a "buy" rating and a $120.00 price objective on the stock. One 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.