Handelsbanken Fonder AB Increases Stake in UMB Financial Co. (NASDAQ:UMBF)

Handelsbanken Fonder AB increased its position in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 34.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,690 shares of the bank's stock after buying an additional 3,760 shares during the quarter. Handelsbanken Fonder AB's holdings in UMB Financial were worth $1,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Rothschild Investment LLC increased its holdings in UMB Financial by 442.0% in the first quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after purchasing an additional 221 shares in the last quarter. Versant Capital Management Inc increased its stake in UMB Financial by 703.2% in 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 in the last quarter. Covestor Ltd raised its position in shares of UMB Financial by 28.8% during the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after purchasing an additional 124 shares during the period. Marquette Asset Management LLC bought a new stake in shares of UMB Financial during the first quarter worth about $82,000. Finally, GAMMA Investing LLC raised its holdings in shares of UMB Financial by 121.9% in the 1st quarter. GAMMA Investing LLC now owns 921 shares of the bank's stock worth $93,000 after acquiring an additional 506 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler lowered their target price on shares of UMB Financial from $137.00 to $135.00 and set an "overweight" rating for the company in a report on Friday. Wall Street Zen lowered UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Morgan Stanley decreased their target price on UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Truist Financial assumed coverage on shares of UMB Financial in a research report on Tuesday, May 13th. They set a "buy" rating and a $120.00 target price for the company. Finally, Bank of America initiated coverage on shares of UMB Financial in a report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $122.88.

Insider Buying and Selling at UMB Financial

In related news, CEO J Mariner Kemper sold 5,412 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 288,945 shares in the company, valued at approximately $29,417,490.45. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.45% of the company's stock.

UMB Financial Stock Performance

Shares of NASDAQ:UMBF traded up $1.51 during trading on Monday, hitting $102.21. 38,350 shares of the company were exchanged, compared to its average volume of 524,460. UMB Financial Co. has a 52-week low of $79.25 and a 52-week high of $129.94. The stock has a 50 day moving average of $99.56 and a 200 day moving average of $107.39. 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 company has a market cap of $7.76 billion, a PE ratio of 11.37 and a beta of 0.75.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results 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. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. The firm had revenue of $563.84 million for the quarter, compared to the consensus estimate of $555.79 million. During the same period in the prior year, the firm posted $2.47 earnings per share. The company's revenue for the quarter was up 41.4% on a year-over-year basis. As a group, equities research analysts predict that UMB Financial Co. will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

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 is Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.57%. UMB Financial's dividend payout ratio is currently 20.13%.

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.