Squarepoint Ops LLC Cuts Holdings in UMB Financial Co. (NASDAQ:UMBF)

Squarepoint Ops LLC trimmed its holdings in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 21.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,540 shares of the bank's stock after selling 9,064 shares during the period. Squarepoint Ops LLC owned 0.07% of UMB Financial worth $3,672,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in UMBF. Freestone Grove Partners LP bought a new stake in shares of UMB Financial during the fourth quarter worth approximately $48,235,000. Adage Capital Partners GP L.L.C. boosted its position in shares of UMB Financial by 298.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 301,708 shares of the bank's stock worth $34,051,000 after acquiring an additional 225,908 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of UMB Financial by 22,173.3% during the 4th quarter. Point72 Asset Management L.P. now owns 176,627 shares of the bank's stock worth $19,934,000 after buying an additional 175,834 shares in the last quarter. Barclays PLC boosted its stake in shares of UMB Financial by 278.8% in the 3rd quarter. Barclays PLC now owns 231,482 shares of the bank's stock valued at $24,329,000 after purchasing an additional 170,375 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of UMB Financial in the fourth quarter valued at approximately $15,835,000. 87.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on UMBF shares. Bank of America initiated coverage on UMB Financial in a research report on Wednesday, April 16th. They set a "buy" rating and a $105.00 target price for the company. Truist Financial assumed coverage on shares of UMB Financial in a report on Tuesday, May 13th. They issued a "buy" rating and a $120.00 price target for the company. Royal Bank of Canada cut their target price on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Citigroup reissued a "neutral" rating and set a $127.00 target price (down from $130.00) on shares of UMB Financial in a research report on Monday, February 3rd. Finally, Morgan Stanley lowered their price objective on UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $120.33.

UMB Financial Stock Performance

Shares of UMB Financial stock traded down $0.31 during mid-day trading on Friday, hitting $103.48. 193,391 shares of the stock were exchanged, compared to its average volume of 517,677. The company has a market capitalization of $7.86 billion, a P/E ratio of 11.52 and a beta of 0.72. The company has a 50-day simple moving average of $98.11 and a 200 day simple moving average of $109.17. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75. UMB Financial Co. has a 12 month low of $78.91 and a 12 month high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.37. The firm had revenue of $563.84 million for 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 business's quarterly revenue was up 41.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.47 earnings per share. Sell-side analysts anticipate that UMB Financial Co. will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial's dividend payout ratio (DPR) is 20.13%.

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.