UMB Financial Co. (NASDAQ:UMBF) Shares Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC lifted its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 29.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,951 shares of the bank’s stock after acquiring an additional 2,930 shares during the period. Convergence Investment Partners LLC’s holdings in UMB Financial were worth $1,462,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in UMBF. CWM LLC increased its position in UMB Financial by 29.3% in the third quarter. CWM LLC now owns 2,510 shares of the bank’s stock worth $264,000 after buying an additional 569 shares during the period. V Square Quantitative Management LLC bought a new position in UMB Financial during the third quarter valued at about $26,000. Raymond James & Associates boosted its stake in UMB Financial by 210.3% during the third quarter. Raymond James & Associates now owns 38,637 shares of the bank’s stock valued at $4,061,000 after buying an additional 26,186 shares in the last quarter. Greenleaf Trust bought a new position in UMB Financial during the third quarter valued at about $233,000. Finally, GHP Investment Advisors Inc. boosted its stake in UMB Financial by 1.4% during the third quarter. GHP Investment Advisors Inc. now owns 44,716 shares of the bank’s stock valued at $4,700,000 after buying an additional 611 shares in the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

UMB Financial Stock Performance

UMBF opened at $113.93 on Wednesday. The firm has a market capitalization of $5.56 billion, a P/E ratio of 12.67 and a beta of 0.82. The stock’s 50 day moving average price is $116.32 and its two-hundred day moving average price is $111.28. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. UMB Financial Co. has a 12-month low of $76.00 and a 12-month high of $129.94.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, January 28th. The bank reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. During the same period last year, the company posted $2.29 EPS. On average, equities analysts forecast that UMB Financial Co. will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Monday, March 10th. UMB Financial’s payout ratio is presently 17.80%.

Insider Buying and Selling

In other UMB Financial news, CEO J Mariner Kemper sold 24,300 shares of UMB Financial stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $124.95, for a total value of $3,036,285.00. Following the completion of the transaction, the chief executive officer now owns 1,552,304 shares in the company, valued at approximately $193,960,384.80. The trade was a 1.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Brian Beaird sold 854 shares of UMB Financial stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $123.38, for a total value of $105,366.52. Following the completion of the transaction, the insider now owns 5,828 shares of the company’s stock, valued at approximately $719,058.64. The trade was a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,681 shares of company stock worth $3,201,798 in the last 90 days. 8.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. StockNews.com raised UMB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Citigroup reaffirmed a “neutral” rating and set a $127.00 target price (down from $130.00) on shares of UMB Financial in a report on Monday, February 3rd. Morgan Stanley began coverage on UMB Financial in a report on Thursday, November 21st. They set an “overweight” rating and a $156.00 target price for the company. Barclays upped their target price on UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Piper Sandler upped their target price on UMB Financial from $142.00 to $143.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, UMB Financial has an average rating of “Moderate Buy” and an average price target of $130.14.

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.