Forum Financial Management LP Purchases New Shares in UMB Financial Corporation (NASDAQ:UMBF)

Forum Financial Management LP acquired a new position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,713 shares of the bank's stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors have also modified their holdings of UMBF. Freestone Grove Partners LP acquired a new stake in shares of UMB Financial in the fourth quarter worth $48,235,000. Adage Capital Partners GP L.L.C. lifted its position in UMB Financial by 298.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 301,708 shares of the bank's stock worth $34,051,000 after purchasing an additional 225,908 shares during the period. Stieven Capital Advisors L.P. bought a new position in UMB Financial in the first quarter worth $21,088,000. New York State Common Retirement Fund lifted its position in UMB Financial by 1,302.5% in the first quarter. New York State Common Retirement Fund now owns 194,586 shares of the bank's stock worth $19,673,000 after purchasing an additional 180,712 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in UMB Financial by 22,173.3% in the fourth quarter. Point72 Asset Management L.P. now owns 176,627 shares of the bank's stock worth $19,934,000 after purchasing an additional 175,834 shares during the period. Institutional investors and hedge funds own 87.78% of the company's stock.

UMB Financial Price Performance

Shares of NASDAQ UMBF traded up $0.31 during midday trading on Friday, reaching $109.73. 407,418 shares of the company traded hands, compared to its average volume of 545,871. The firm has a market cap of $8.33 billion, a PE ratio of 13.80, a PEG ratio of 1.46 and a beta of 0.74. The stock's 50-day simple moving average is $103.80 and its 200-day simple moving average is $104.52. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $129.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.37. The company 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 12.09% and a net margin of 13.64%. The business's revenue was up 41.4% on a year-over-year basis. During the same period last year, the business earned $2.47 earnings per share. As a group, equities analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.46%. UMB Financial's payout ratio is presently 20.13%.

Insider Activity

In related 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 completion of the transaction, the chief executive officer directly owned 288,945 shares of the company's stock, valued at $29,417,490.45. The trade was 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. 5.45% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on UMBF shares. Piper Sandler set a $135.00 target price on UMB Financial and gave the stock an "overweight" rating in a research report on Friday, June 13th. Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Truist Financial set a $128.00 target price on UMB Financial and gave the stock a "buy" rating in a research report on Friday, July 11th. Royal Bank Of Canada reduced their target price 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, Barclays raised their target price on UMB Financial from $130.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, UMB Financial presently has a consensus rating of "Hold" and a consensus target price of $127.00.

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.