GAMMA Investing LLC Increases Position in UMB Financial Co. (NASDAQ:UMBF)

GAMMA Investing LLC grew its position in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 22,336.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,113 shares of the bank's stock after purchasing an additional 92,698 shares during the period. GAMMA Investing LLC owned approximately 0.13% of UMB Financial worth $9,414,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in shares of UMB Financial by 703.2% during the 1st quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock worth $50,000 after acquiring an additional 436 shares during the last quarter. Covestor Ltd lifted its holdings in shares of UMB Financial by 28.8% during the 4th quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after acquiring an additional 124 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of UMB Financial during the 4th quarter worth $96,000. Steward Partners Investment Advisory LLC bought a new stake in shares of UMB Financial during the 4th quarter worth $103,000. Finally, AdvisorNet Financial Inc lifted its holdings in shares of UMB Financial by 82.0% during the 1st quarter. AdvisorNet Financial Inc now owns 1,343 shares of the bank's stock worth $136,000 after acquiring an additional 605 shares during the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at UMB Financial

In related 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 transaction of $550,995.72. Following the transaction, the chief executive officer now owns 288,945 shares in the company, valued at $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.45% of the stock is owned by corporate insiders.

UMB Financial Trading Down 1.2%

Shares of NASDAQ:UMBF traded down $1.24 during midday trading on Wednesday, hitting $104.85. 684,827 shares of the stock traded hands, compared to its average volume of 524,777. The stock has a market capitalization of $7.96 billion, a PE ratio of 11.66 and a beta of 0.75. The business's 50 day moving average is $98.59 and its two-hundred day moving average is $108.02. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. UMB Financial Co. has a one year low of $79.25 and a one year high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, beating the consensus estimate of $2.21 by $0.37. The firm had revenue of $563.84 million during 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 company's quarterly revenue was up 41.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.47 earnings per share. As a group, research analysts forecast that UMB Financial Co. will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 dividend yield of 1.53%. The ex-dividend date is Tuesday, June 10th. UMB Financial's dividend payout ratio is currently 20.13%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $137.00 price objective (up from $132.00) on shares of UMB Financial in a report on Friday, May 2nd. Wells Fargo & Company boosted their price target on shares of UMB Financial from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Morgan Stanley lowered their price target on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Royal Bank of Canada lowered their price target on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Finally, Barclays lowered their price target on shares of UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. One investment 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $123.13.

UMB Financial 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.