Rhumbline Advisers Grows Position in UMB Financial Co. (NASDAQ:UMBF)

Rhumbline Advisers lifted its position in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 45.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 228,812 shares of the bank's stock after purchasing an additional 71,170 shares during the period. Rhumbline Advisers owned about 0.30% of UMB Financial worth $23,133,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of UMBF. Freestone Grove Partners LP acquired a new stake in UMB Financial in the fourth quarter valued at $48,235,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of UMB Financial by 298.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 301,708 shares of the bank's stock valued at $34,051,000 after acquiring an additional 225,908 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of UMB Financial by 22,173.3% in the 4th quarter. Point72 Asset Management L.P. now owns 176,627 shares of the bank's stock valued at $19,934,000 after acquiring an additional 175,834 shares during the last quarter. Norges Bank acquired a new stake in shares of UMB Financial during the 4th quarter worth about $15,835,000. Finally, Wellington Management Group LLP lifted its stake in UMB Financial by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 2,021,285 shares of the bank's stock worth $228,122,000 after purchasing an additional 102,104 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO J Mariner Kemper sold 5,412 shares of UMB Financial stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $101.81, for a total value of $550,995.72. Following the sale, the chief executive officer now owns 288,945 shares of the company's stock, valued at $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.45% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays dropped their price target on shares of UMB Financial from $139.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley lowered their target price on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Bank of America started coverage on shares of UMB Financial in a research report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 target price on the stock. Piper Sandler reiterated an "overweight" rating and set a $137.00 price target (up from $132.00) on shares of UMB Financial in a research note on Friday, May 2nd. Finally, Truist Financial assumed coverage on shares of UMB Financial in a research note on Tuesday, May 13th. They issued a "buy" rating and a $120.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $123.13.

UMB Financial Stock Performance

Shares of UMB Financial stock traded up $2.95 during trading on Friday, reaching $104.79. The company's stock had a trading volume of 545,326 shares, compared to its average volume of 523,080. The company has a 50-day moving average price of $98.12 and a two-hundred day moving average price of $108.46. UMB Financial Co. has a fifty-two week low of $78.91 and a fifty-two week high of $129.94. The firm has a market cap of $7.96 billion, a PE ratio of 11.66 and a beta of 0.75. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, beating 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 company had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. During the same period in the previous year, the business posted $2.47 earnings per share. UMB Financial's quarterly revenue was up 41.4% on a year-over-year basis. On average, analysts forecast that UMB Financial Co. will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.53%. The ex-dividend date is Tuesday, June 10th. UMB Financial's dividend payout ratio is presently 20.13%.

UMB Financial Company 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.