Ellenbecker Investment Group bought a new stake in shares of UMB Financial Co. (NASDAQ:UMBF) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,197 shares of the bank’s stock, valued at approximately $203,000.
A number of other hedge funds have also added to or reduced their stakes in the business. Captrust Financial Advisors increased its stake in UMB Financial by 7.4% during the third quarter. Captrust Financial Advisors now owns 2,674 shares of the bank’s stock valued at $132,000 after purchasing an additional 184 shares during the last quarter. Truist Financial Corp grew its position in shares of UMB Financial by 4.4% during the third quarter. Truist Financial Corp now owns 6,883 shares of the bank’s stock worth $337,000 after acquiring an additional 287 shares during the last quarter. California State Teachers Retirement System grew its position in shares of UMB Financial by 0.5% during the third quarter. California State Teachers Retirement System now owns 66,081 shares of the bank’s stock worth $3,239,000 after acquiring an additional 309 shares during the last quarter. Strs Ohio grew its position in shares of UMB Financial by 42.9% during the fourth quarter. Strs Ohio now owns 2,000 shares of the bank’s stock worth $137,000 after acquiring an additional 600 shares during the last quarter. Finally, Toronto Dominion Bank bought a new position in shares of UMB Financial during the fourth quarter worth about $58,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.
In other UMB Financial news, EVP Kevin M. Macke sold 883 shares of UMB Financial stock in a transaction that occurred on Friday, January 29th. The shares were sold at an average price of $71.62, for a total transaction of $63,240.46. Following the transaction, the executive vice president now directly owns 8,777 shares in the company, valued at approximately $628,608.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO David Carl Odgers sold 721 shares of UMB Financial stock in a transaction that occurred on Thursday, March 4th. The stock was sold at an average price of $90.09, for a total transaction of $64,954.89. Following the transaction, the chief accounting officer now owns 3,018 shares in the company, valued at $271,891.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,591 shares of company stock valued at $2,718,319. 10.24% of the stock is owned by insiders.
UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Monday, January 25th. The bank reported $3.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.96. UMB Financial had a net margin of 15.62% and a return on equity of 7.54%. The company had revenue of $429.80 million during the quarter, compared to the consensus estimate of $316.50 million. During the same period in the prior year, the company earned $1.36 EPS. Equities research analysts anticipate that UMB Financial Co. will post 4.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Wednesday, March 10th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Tuesday, March 9th. UMB Financial’s payout ratio is 25.65%.
UMBF has been the subject of several recent research reports. Raymond James upped their price target on shares of UMB Financial from $69.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, January 28th. Wells Fargo & Company upgraded shares of UMB Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $72.00 to $85.00 in a research report on Thursday, January 28th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $71.25.
UMB Financial Company Profile
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. The Commercial Banking segment provides commercial loans and credit cards; commercial real estate financing; letters of credit; loan syndication, and consultative services; various business solutions including asset-based lending, accounts receivable financing, mezzanine debt, and minority equity investments; and treasury management services, such as depository services, account reconciliation, cash management tools, accounts payable and receivable solutions, electronic fund transfer and automated payments, controlled disbursements, lockbox services, and remote deposit capture services.
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