Voloridge Investment Management LLC Trims Position in UMB Financial Co. (NASDAQ:UMBF)

Voloridge Investment Management LLC lessened its position in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 20.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,632 shares of the bank's stock after selling 37,679 shares during the quarter. Voloridge Investment Management LLC owned 0.30% of UMB Financial worth $16,775,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Covestor Ltd lifted its stake in UMB Financial by 28.8% in the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after purchasing an additional 124 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of UMB Financial during the fourth quarter valued at approximately $96,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of UMB Financial in the fourth quarter worth approximately $103,000. R Squared Ltd bought a new stake in shares of UMB Financial during the 4th quarter worth approximately $117,000. Finally, HighTower Advisors LLC purchased a new position in UMB Financial during the 4th quarter valued at $201,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Royal Bank of Canada reduced their target price on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley reduced their price target on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Piper Sandler reissued an "overweight" rating and issued a $137.00 price objective (up from $132.00) on shares of UMB Financial in a research report on Friday, May 2nd. Barclays dropped their target price 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. Finally, Truist Financial started coverage on shares of UMB Financial in a research note on Tuesday, May 13th. They set a "buy" rating and a $120.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $120.33.

UMB Financial Stock Down 0.6%

NASDAQ UMBF traded down $0.63 during midday trading on Monday, hitting $101.50. 633,990 shares of the company traded hands, compared to its average volume of 518,064. UMB Financial Co. has a 52 week low of $78.56 and a 52 week high of $129.94. The company's 50-day simple moving average is $98.10 and its 200-day simple moving average is $109.54. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $7.71 billion, a PE ratio of 11.29 and a beta of 0.72.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.37. The business had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. The company's revenue was up 41.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.47 earnings per share. As a group, equities research analysts forecast that UMB Financial Co. will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.58%. UMB Financial's dividend payout ratio is currently 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.