Verition Fund Management LLC Buys New Shares in UMB Financial Corporation $UMBF

Verition Fund Management LLC bought a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 133,999 shares of the bank’s stock, valued at approximately $15,415,000.

Other large investors have also recently bought and sold shares of the company. Alliancebernstein L.P. raised its stake in shares of UMB Financial by 636.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock valued at $156,543,000 after buying an additional 1,286,543 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of UMB Financial by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock valued at $366,743,000 after buying an additional 751,525 shares in the last quarter. Norges Bank acquired a new position in shares of UMB Financial in the 4th quarter valued at $85,885,000. UMB Bank n.a. raised its stake in shares of UMB Financial by 11.4% in the 4th quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank’s stock valued at $553,322,000 after buying an additional 493,875 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in shares of UMB Financial by 1,560.9% in the 4th quarter. Johnson Investment Counsel Inc. now owns 362,118 shares of the bank’s stock valued at $41,658,000 after buying an additional 340,316 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kevin Charles Gallagher sold 381 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $132.88, for a total value of $50,627.28. Following the sale, the director owned 12,223 shares of the company’s stock, valued at approximately $1,624,192.24. This represents a 3.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President James D. Rine sold 8,246 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the completion of the sale, the president directly owned 61,446 shares in the company, valued at approximately $8,147,125.14. The trade was a 11.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.33% of the stock is currently owned by corporate insiders.

UMB Financial Stock Down 0.8%

UMBF opened at $134.23 on Tuesday. The firm’s 50-day simple moving average is $126.71 and its 200-day simple moving average is $121.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. UMB Financial Corporation has a twelve month low of $98.16 and a twelve month high of $137.56. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 0.92 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.59. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. The business had revenue of $739.16 million for the quarter, compared to analyst estimates of $701.79 million. During the same quarter in the prior year, the firm earned $2.58 EPS. The firm’s quarterly revenue was up 31.1% compared to the same quarter last year. Equities research analysts anticipate that UMB Financial Corporation will post 12.8 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.72 annualized dividend and a dividend yield of 1.3%. UMB Financial’s dividend payout ratio is presently 15.26%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on UMBF. Morgan Stanley dropped their price objective on shares of UMB Financial from $156.00 to $143.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Weiss Ratings upgraded shares of UMB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Royal Bank Of Canada increased their price objective on shares of UMB Financial from $138.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Barclays increased their price objective on shares of UMB Financial from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Piper Sandler increased their price objective on shares of UMB Financial from $152.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $145.55.

About UMB Financial

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.