GW&K Investment Management LLC Sells 24,681 Shares of UMB Financial Corporation $UMBF

GW&K Investment Management LLC trimmed its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 718,277 shares of the bank’s stock after selling 24,681 shares during the quarter. UMB Financial accounts for about 0.7% of GW&K Investment Management LLC’s holdings, making the stock its 28th largest position. GW&K Investment Management LLC owned about 0.95% of UMB Financial worth $82,631,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of UMBF. Royal Bank of Canada increased its position in shares of UMB Financial by 28.2% during the first quarter. Royal Bank of Canada now owns 42,829 shares of the bank’s stock valued at $4,329,000 after acquiring an additional 9,417 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of UMB Financial by 47.0% during the first quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank’s stock valued at $570,000 after acquiring an additional 1,803 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of UMB Financial by 65.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 207,881 shares of the bank’s stock valued at $21,017,000 after acquiring an additional 82,083 shares during the last quarter. Jane Street Group LLC increased its position in shares of UMB Financial by 161.7% during the first quarter. Jane Street Group LLC now owns 49,877 shares of the bank’s stock valued at $5,043,000 after acquiring an additional 30,820 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of UMB Financial by 6.8% during the second quarter. Cetera Investment Advisers now owns 4,232 shares of the bank’s stock valued at $445,000 after acquiring an additional 269 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Trading Up 2.1%

NASDAQ:UMBF opened at $131.82 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $10.02 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.88 and a beta of 0.78. The firm’s 50 day moving average is $125.08 and its 200 day moving average is $121.15. UMB Financial Corporation has a 12 month low of $98.16 and a 12 month high of $136.11.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, April 28th. The bank reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.59. The company had revenue of $739.16 million for the quarter, compared to analysts’ expectations of $701.79 million. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. UMB Financial’s revenue was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 EPS. Sell-side analysts expect that UMB Financial Corporation will post 12.76 earnings per share for the current year.

UMB Financial Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently commented on UMBF shares. Royal Bank Of Canada increased their price target on UMB Financial from $138.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. TD Cowen increased their price target on UMB Financial from $141.00 to $147.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Truist Financial set a $140.00 price target on UMB Financial in a research report on Friday, May 1st. Barclays lifted their price target on shares of UMB Financial from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Weiss Ratings raised shares of UMB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $145.55.

UMB Financial Company Profile

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.