Price T Rowe Associates Inc. MD Acquires 70,888 Shares of UMB Financial Co. (NASDAQ:UMBF)

Price T Rowe Associates Inc. MD lifted its position in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 84.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,133 shares of the bank's stock after purchasing an additional 70,888 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.32% of UMB Financial worth $17,509,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. USA Financial Formulas raised its stake in shares of UMB Financial by 124.7% in the 4th quarter. USA Financial Formulas now owns 483 shares of the bank's stock valued at $55,000 after buying an additional 268 shares in the last quarter. Covestor Ltd raised its position 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 in the last quarter. Venturi Wealth Management LLC bought a new position in UMB Financial during the fourth quarter worth about $96,000. Steward Partners Investment Advisory LLC acquired a new stake in UMB Financial during the fourth quarter valued at approximately $103,000. Finally, R Squared Ltd acquired a new position in shares of UMB Financial in the 4th quarter worth approximately $117,000. 87.78% of the stock is owned by institutional investors.

UMB Financial Price Performance

Shares of UMBF stock traded up $2.56 during trading hours on Friday, reaching $100.34. 629,568 shares of the company were exchanged, compared to its average volume of 521,308. 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 $7.62 billion, a price-to-earnings ratio of 11.16 and a beta of 0.71. The stock's fifty day moving average is $97.84 and its two-hundred day moving average is $110.14. UMB Financial Co. has a fifty-two week low of $78.56 and a fifty-two week high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced 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 return on equity of 13.73% and a net margin of 15.76%. The firm had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. During the same period last year, the company earned $2.47 EPS. The business's quarterly revenue was up 41.4% compared to the same quarter last year. Sell-side analysts forecast that UMB Financial Co. will post 9.66 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.59%. UMB Financial's payout ratio is presently 20.13%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on UMBF shares. Royal Bank of Canada lowered their price target on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a research report on Thursday. Piper Sandler reiterated an "overweight" rating and set a $137.00 target price (up previously from $132.00) on shares of UMB Financial in a research report on Friday. StockNews.com lowered shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday. Barclays dropped their price objective on shares of UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Morgan Stanley reduced their target price on UMB Financial from $156.00 to $146.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $120.38.

Insider Activity

In other news, Director Kevin Charles Gallagher sold 527 shares of the stock in a transaction 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 transaction, the director now owns 13,010 shares of the company's stock, valued at $1,484,831.30. This represents a 3.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO J Mariner Kemper sold 3,500 shares of UMB Financial stock in a transaction on Friday, February 21st. The stock was sold at an average price of $108.61, for a total value of $380,135.00. Following the sale, the chief executive officer now directly owns 334,347 shares of the company's stock, valued at approximately $36,313,427.67. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.45% of the company's stock.

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.