GAMMA Investing LLC Purchases 92,698 Shares of UMB Financial Co. (NASDAQ:UMBF)

GAMMA Investing LLC lifted its position in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 22,336.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 93,113 shares of the bank's stock after buying an additional 92,698 shares during the period. GAMMA Investing LLC owned about 0.13% of UMB Financial worth $9,414,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in UMBF. Versant Capital Management Inc lifted its position in UMB Financial by 703.2% during the first quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock valued at $50,000 after purchasing an additional 436 shares during the period. Covestor Ltd lifted its position in UMB Financial by 28.8% during the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock valued at $63,000 after purchasing an additional 124 shares during the period. Venturi Wealth Management LLC bought a new position in UMB Financial during the fourth quarter valued at approximately $96,000. Steward Partners Investment Advisory LLC bought a new position in UMB Financial during the fourth quarter valued at approximately $103,000. Finally, AdvisorNet Financial Inc lifted its position in UMB Financial by 82.0% during the first quarter. AdvisorNet Financial Inc now owns 1,343 shares of the bank's stock valued at $136,000 after purchasing an additional 605 shares during the period. Institutional investors own 87.78% of the company's stock.

UMB Financial Stock Performance

Shares of NASDAQ UMBF opened at $104.79 on Friday. The firm has a fifty day moving average price of $98.21 and a 200-day moving average price of $108.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market cap of $7.96 billion, a PE ratio of 11.66 and a beta of 0.75. UMB Financial Co. has a 1 year low of $78.91 and a 1 year high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.37. The firm had revenue of $563.84 million during the quarter, compared to analysts' expectations of $555.79 million. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. The company'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 company posted $2.47 earnings per share. Equities analysts anticipate that UMB Financial Co. will post 9.66 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 1.53%. UMB Financial's dividend payout ratio (DPR) is presently 20.13%.

Analyst Ratings Changes

UMBF has been the topic of a number of research analyst reports. Barclays lowered their price objective 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. Morgan Stanley decreased 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. Truist Financial initiated coverage on shares of UMB Financial in a research report on Tuesday, May 13th. They issued a "buy" rating and a $120.00 price target on the stock. Royal Bank of Canada decreased 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 report on Thursday, May 1st. Finally, Piper Sandler reiterated an "overweight" rating and issued a $137.00 price target (up from $132.00) on shares of UMB Financial in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $123.13.

Insider Transactions at UMB Financial

In other 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 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. This represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.45% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.