KLP Kapitalforvaltning AS Has $1.51 Million Holdings in UMB Financial Corporation (NASDAQ:UMBF)

Key Points

• KLP Kapitalforvaltning AS increased its stake in UMB Financial Corporation by 56.8%, acquiring an additional 5,395 shares during the first quarter, bringing its total holdings to 14,895 shares valued at approximately $1.51 million.
• Several hedge funds have made significant increases to their positions in UMB Financial, notably Rothschild Investment LLC and Versant Capital Management Inc, which boosted their holdings by 442.0% and 703.2%, respectively, in the same quarter.
• Equities analysts have mixed outlooks for UMB Financial, with reports showing ratings ranging from a sell to buy, a price target consensus of $127.00, and the stock recently trading around $108.12.

KLP Kapitalforvaltning AS lifted its holdings in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 56.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,895 shares of the bank's stock after buying an additional 5,395 shares during the period. KLP Kapitalforvaltning AS's holdings in UMB Financial were worth $1,511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of UMBF. Rothschild Investment LLC boosted its position in UMB Financial by 442.0% during the first quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock valued at $27,000 after purchasing an additional 221 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of UMB Financial by 703.2% in the first quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock worth $50,000 after buying an additional 436 shares during the last quarter. Covestor Ltd lifted its position in shares of UMB Financial by 28.8% in the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after buying an additional 124 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of UMB Financial by 38.1% in the first quarter. Fifth Third Bancorp now owns 624 shares of the bank's stock worth $63,000 after buying an additional 172 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in shares of UMB Financial in the first quarter worth about $82,000. Institutional investors and hedge funds own 87.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank Of Canada reduced their price target 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. Wall Street Zen lowered UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Truist Financial set a $128.00 price objective on UMB Financial and gave the stock a "buy" rating in a research note on Friday, July 11th. Barclays lifted their price objective on UMB Financial from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company lifted their price objective on UMB Financial from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $127.00.

UMB Financial Stock Performance

UMBF traded up $1.60 on Wednesday, hitting $110.80. 1,065,797 shares of the stock traded hands, compared to its average volume of 480,596. UMB Financial Corporation has a 52 week low of $82.00 and a 52 week high of $129.94. The firm has a market capitalization of $8.41 billion, a PE ratio of 12.74, a P/E/G ratio of 1.45 and a beta of 0.74. The business has a fifty day moving average price of $104.52 and a two-hundred day moving average price of $104.19. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.61. UMB Financial had a return on equity of 13.84% and a net margin of 15.42%. The company had revenue of $689.21 million for the quarter, compared to analyst estimates of $638.25 million. During the same period in the prior year, the company posted $2.16 EPS. The company's revenue was up 76.7% compared to the same quarter last year. On average, research analysts predict that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.44%. UMB Financial's dividend payout ratio is currently 20.13%.

Insider Buying and Selling at UMB Financial

In other news, CEO J Mariner Kemper sold 5,412 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the sale, the chief executive officer directly owned 288,945 shares in the company, valued at approximately $29,417,490.45. This represents a 1.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.45% of the company's stock.

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.