Formula Growth Ltd. Purchases New Stake in UMB Financial Co. (NASDAQ:UMBF)

Formula Growth Ltd. bought a new stake in UMB Financial Co. (NASDAQ:UMBF - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 42,100 shares of the bank's stock, valued at approximately $4,751,000. UMB Financial comprises about 1.6% of Formula Growth Ltd.'s investment portfolio, making the stock its 14th biggest position. Formula Growth Ltd. owned approximately 0.09% of UMB Financial at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of UMBF. USA Financial Formulas boosted its stake in UMB Financial by 124.7% during the 4th quarter. USA Financial Formulas now owns 483 shares of the bank's stock worth $55,000 after acquiring an additional 268 shares during the last quarter. Covestor Ltd boosted its stake in UMB Financial by 28.8% in the 4th quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after purchasing an additional 124 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of UMB Financial in the 4th quarter valued at about $96,000. Steward Partners Investment Advisory LLC bought a new stake in shares of UMB Financial in the fourth quarter valued at about $103,000. Finally, R Squared Ltd acquired a new position in shares of UMB Financial during the fourth quarter worth about $117,000. 87.78% of the stock is owned by institutional investors.

Insider Activity at UMB Financial

In related news, Director Kevin Charles Gallagher sold 527 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $114.13, for a total value of $60,146.51. Following the sale, the director now directly owns 13,010 shares in the company, valued at $1,484,831.30. This represents a 3.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO J Mariner Kemper sold 3,500 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $108.61, for a total transaction of $380,135.00. Following the transaction, the chief executive officer now owns 334,347 shares of the company's stock, valued at approximately $36,313,427.67. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. 5.45% of the stock is currently owned by insiders.

UMB Financial Stock Performance

NASDAQ:UMBF traded up $1.15 during mid-day trading on Thursday, reaching $96.49. 140,074 shares of the company's stock were exchanged, compared to its average volume of 524,011. 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 one year low of $76.00 and a one year high of $129.94. The business's fifty day simple moving average is $99.65 and its two-hundred day simple moving average is $110.62. The firm has a market capitalization of $7.33 billion, a PE ratio of 10.73 and a beta of 0.71.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.24. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. During the same quarter in the previous year, the business earned $2.29 earnings per share. Analysts anticipate that UMB Financial Co. will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.66%. The ex-dividend date was Monday, March 10th. UMB Financial's payout ratio is 17.80%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of UMB Financial from $142.00 to $143.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on UMB Financial from $120.00 to $105.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Citigroup reissued a "neutral" rating and set a $127.00 price target (down from $130.00) on shares of UMB Financial in a research report on Monday, February 3rd. StockNews.com upgraded UMB Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. Finally, Barclays decreased their target price on shares of UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $122.13.

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.