Freestone Grove Partners LP Purchases New Shares in UMB Financial Co. (NASDAQ:UMBF)

Freestone Grove Partners LP purchased a new position in shares of UMB Financial Co. (NASDAQ:UMBF) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 427,390 shares of the bank’s stock, valued at approximately $48,235,000. Freestone Grove Partners LP owned 0.88% of UMB Financial at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of UMB Financial by 278.8% during the third quarter. Barclays PLC now owns 231,482 shares of the bank’s stock worth $24,329,000 after buying an additional 170,375 shares during the period. Principal Financial Group Inc. lifted its position in UMB Financial by 403.7% during the 3rd quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock worth $91,114,000 after acquiring an additional 694,751 shares during the period. Ellenbecker Investment Group purchased a new position in shares of UMB Financial in the 4th quarter valued at approximately $212,000. Assenagon Asset Management S.A. acquired a new position in shares of UMB Financial in the fourth quarter valued at approximately $1,443,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of UMB Financial during the fourth quarter worth approximately $284,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other UMB Financial news, Director Kevin Charles Gallagher sold 527 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $114.13, for a total value of $60,146.51. Following the sale, the director now directly owns 13,010 shares of the company’s stock, valued at approximately $1,484,831.30. This trade represents a 3.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Mariner Kemper sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $108.61, for a total transaction of $380,135.00. Following the completion of the sale, the chief executive officer now owns 334,347 shares of the company’s stock, valued at approximately $36,313,427.67. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.45% of the stock is currently owned by company insiders.

UMB Financial Stock Down 3.3 %

UMBF opened at $94.57 on Thursday. UMB Financial Co. has a one year low of $78.56 and a one year high of $129.94. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 10.52 and a beta of 0.71. The business’s fifty day moving average is $98.15 and its two-hundred day moving average is $110.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.37. The business had revenue of $563.84 million during the quarter, compared to analysts’ expectations of $555.79 million. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. The company’s revenue was up 41.4% on a year-over-year basis. During the same period last year, the company posted $2.47 EPS. Analysts anticipate that UMB Financial Co. will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial’s payout ratio is currently 17.80%.

Analyst Ratings Changes

Several equities analysts have issued reports on UMBF shares. Morgan Stanley dropped their price objective on shares of UMB Financial from $156.00 to $146.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Barclays cut their price target 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. Bank of America initiated coverage on UMB Financial in a report on Wednesday, April 16th. They issued a “buy” rating and a $105.00 price objective on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $128.00 price target on shares of UMB Financial in a report on Thursday, January 30th. Finally, Citigroup reaffirmed a “neutral” rating and set a $127.00 price objective (down previously from $130.00) on shares of UMB Financial in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, UMB Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.13.

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.