Atwood & Palmer Inc. Buys 6,951 Shares of UMB Financial Co. (NASDAQ:UMBF)

Atwood & Palmer Inc. increased its position in UMB Financial Co. (NASDAQ:UMBF) by 184.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,729 shares of the bank’s stock after acquiring an additional 6,951 shares during the quarter. Atwood & Palmer Inc.’s holdings in UMB Financial were worth $1,085,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rothschild Investment LLC increased its position in shares of UMB Financial by 442.0% during the first quarter. Rothschild Investment LLC now owns 271 shares of the bank’s stock valued at $27,000 after purchasing an additional 221 shares during the period. Versant Capital Management Inc lifted its holdings in UMB Financial by 703.2% during the 1st quarter. Versant Capital Management Inc now owns 498 shares of the bank’s stock valued at $50,000 after purchasing an additional 436 shares during the last quarter. Covestor Ltd raised its stake in shares of UMB Financial by 28.8% in the fourth quarter. Covestor Ltd now owns 555 shares of the bank’s stock valued at $63,000 after acquiring an additional 124 shares during the last quarter. Marquette Asset Management LLC acquired a new position in shares of UMB Financial in the 1st quarter worth approximately $82,000. Finally, GAMMA Investing LLC grew its holdings in shares of UMB Financial by 121.9% during the first quarter. GAMMA Investing LLC now owns 921 shares of the bank’s stock worth $93,000 after purchasing an additional 506 shares during the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UMBF has been the subject of several research reports. Barclays lowered their price objective on shares of UMB Financial from $139.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Truist Financial began coverage on UMB Financial in a report on Tuesday, May 13th. They issued a “buy” rating and a $120.00 price objective for the company. Morgan Stanley cut their target price on shares of UMB Financial from $156.00 to $146.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Piper Sandler reissued an “overweight” rating and issued a $137.00 price target (up previously from $132.00) on shares of UMB Financial in a report on Friday, May 2nd. Finally, Wells Fargo & Company increased their price target on UMB Financial from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.13.

UMB Financial Stock Performance

UMBF opened at $105.89 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 11.78 and a beta of 0.75. UMB Financial Co. has a 12-month low of $78.91 and a 12-month high of $129.94. The business has a 50 day moving average of $98.28 and a 200-day moving average of $108.03.

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

UMB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial’s dividend payout ratio is currently 20.13%.

Insider Transactions at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of UMB Financial stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the transaction, the chief executive officer now owns 288,945 shares in the company, valued at $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.45% of the stock is currently owned by insiders.

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.