Edgestream Partners L.P. Acquires 77,422 Shares of UMB Financial Corporation (NASDAQ:UMBF)

Edgestream Partners L.P. lifted its stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 405.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 96,518 shares of the bank's stock after purchasing an additional 77,422 shares during the quarter. Edgestream Partners L.P. owned 0.13% of UMB Financial worth $9,758,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of UMBF. Securian Asset Management Inc. increased its position in shares of UMB Financial by 56.1% in the first quarter. Securian Asset Management Inc. now owns 5,149 shares of the bank's stock worth $521,000 after acquiring an additional 1,851 shares in the last quarter. CWM LLC boosted its stake in UMB Financial by 277.6% in the 1st quarter. CWM LLC now owns 10,603 shares of the bank's stock worth $1,072,000 after purchasing an additional 7,795 shares during the period. High Note Wealth LLC purchased a new position in UMB Financial during the 1st quarter worth approximately $234,000. Louisiana State Employees Retirement System raised its stake in UMB Financial by 55.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 19,100 shares of the bank's stock valued at $1,931,000 after purchasing an additional 6,800 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of UMB Financial by 1,302.5% in the first quarter. New York State Common Retirement Fund now owns 194,586 shares of the bank's stock valued at $19,673,000 after purchasing an additional 180,712 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.

UMB Financial Stock Up 1.7%

Shares of NASDAQ UMBF traded up $1.88 during mid-day trading on Monday, reaching $112.09. 456,144 shares of the company traded hands, compared to its average volume of 674,816. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. The company's fifty day moving average is $103.09 and its two-hundred day moving average is $104.66. The stock has a market cap of $8.51 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.29 and a beta of 0.74. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week 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 (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.37. The company had revenue of $563.84 million during the quarter, compared to analysts' expectations of $555.79 million. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The business's quarterly revenue was up 41.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.47 earnings per share. On average, analysts expect that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.43%. UMB Financial's dividend payout ratio (DPR) is presently 20.13%.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 288,945 shares of the company's stock, valued at $29,417,490.45. This represents a 1.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.45% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on UMBF. Wells Fargo & Company upped their price target on UMB Financial from $110.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday. Royal Bank Of Canada dropped 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. Bank of America began coverage on shares of UMB Financial in a research report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price target for the company. Piper Sandler set a $135.00 price objective on shares of UMB Financial and gave the company an "overweight" rating in a research report on Friday, June 13th. Finally, Wall Street Zen downgraded shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, UMB Financial has a consensus rating of "Hold" and a consensus target price of $127.00.

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.