Horizon Investments LLC Reduces Stock Position in UMB Financial Corporation $UMBF

Key Points

• Horizon Investments LLC cut its UMB Financial stake by 94.7% in the fourth quarter, selling 23,789 shares and retaining 1,339 shares worth about $154,000.
• Analysts remain mostly bullish on UMB Financial, with an average rating of “Buy” and a consensus target price of $145.55. Recent updates included Barclays raising its target to $170 and Morgan Stanley lowering its target to $143.
• UMB Financial reported strong quarterly results, posting $3.41 EPS versus $2.82 expected and revenue of $739.16 million, while also declaring a quarterly dividend of $0.43 per share.

Horizon Investments LLC cut its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 94.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,339 shares of the bank's stock after selling 23,789 shares during the period. Horizon Investments LLC's holdings in UMB Financial were worth $154,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of UMBF. Royal Bank of Canada raised its position in UMB Financial by 28.2% during the 1st quarter. Royal Bank of Canada now owns 42,829 shares of the bank's stock valued at $4,329,000 after purchasing an additional 9,417 shares in the last quarter. NewEdge Advisors LLC raised its position in UMB Financial by 47.0% during the 1st quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank's stock valued at $570,000 after purchasing an additional 1,803 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in UMB Financial by 65.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 207,881 shares of the bank's stock valued at $21,017,000 after purchasing an additional 82,083 shares in the last quarter. Jane Street Group LLC raised its position in UMB Financial by 161.7% during the 1st quarter. Jane Street Group LLC now owns 49,877 shares of the bank's stock valued at $5,043,000 after purchasing an additional 30,820 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in UMB Financial by 6.8% during the 2nd quarter. Cetera Investment Advisers now owns 4,232 shares of the bank's stock valued at $445,000 after purchasing an additional 269 shares in the last quarter. 87.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays lifted their target price on UMB Financial from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Truist Financial set a $140.00 target price on UMB Financial in a research report on Friday, May 1st. Raymond James Financial reaffirmed a "strong-buy" rating and set a $145.00 target price on shares of UMB Financial in a research report on Thursday, January 29th. Morgan Stanley decreased their target price on UMB Financial from $156.00 to $143.00 and set an "overweight" rating for the company in a research report on Tuesday, March 31st. Finally, Weiss Ratings raised UMB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, UMB Financial has an average rating of "Buy" and an average target price of $145.55.

UMB Financial Stock Performance

UMBF opened at $131.36 on Monday. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.89 and a beta of 0.78. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. UMB Financial Corporation has a 12 month low of $98.16 and a 12 month high of $136.11. The stock has a fifty day moving average price of $117.79 and a 200-day moving average price of $117.82.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The bank reported $3.41 EPS for the quarter, topping the consensus estimate of $2.82 by $0.59. The firm had revenue of $739.16 million during the quarter, compared to analyst estimates of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The business's revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.58 EPS. As a group, equities research analysts anticipate that UMB Financial Corporation will post 12.76 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, June 10th. UMB Financial's payout ratio is presently 15.26%.

UMB Financial Company Profile

UMB Financial Corporation NASDAQ: UMBF is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.

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