Congress Asset Management Co. MA purchased a new position in shares of UMB Financial Corp (NASDAQ:UMBF) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 18,130 shares of the bank’s stock, valued at approximately $1,171,000.
Several other hedge funds have also modified their holdings of UMBF. Oakworth Capital Inc. bought a new position in shares of UMB Financial in the 2nd quarter worth about $34,000. North Star Investment Management Corp. purchased a new position in shares of UMB Financial in the third quarter worth approximately $44,000. Parkside Investments LLC purchased a new position in shares of UMB Financial in the second quarter worth approximately $56,000. Point72 Asset Management L.P. purchased a new position in shares of UMB Financial in the second quarter worth approximately $66,000. Finally, Quantamental Technologies LLC purchased a new position in shares of UMB Financial in the second quarter worth approximately $71,000. Institutional investors and hedge funds own 85.53% of the company’s stock.
In related news, CAO J Walker Brian sold 1,500 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $68.00, for a total value of $102,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Mariner Kemper sold 6,600 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $66.95, for a total transaction of $441,870.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,172 shares of company stock valued at $872,516. 10.45% of the stock is currently owned by insiders.
Shares of UMB Financial stock traded down $0.13 on Friday, hitting $67.12. 1,350 shares of the company traded hands, compared to its average volume of 176,051. The stock has a market capitalization of $3.30 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.68 and a current ratio of 0.68. UMB Financial Corp has a 52 week low of $57.90 and a 52 week high of $71.97. The business has a 50-day simple moving average of $64.96 and a 200 day simple moving average of $65.10.
UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.10. The firm had revenue of $271.90 million for the quarter, compared to analysts’ expectations of $276.93 million. UMB Financial had a net margin of 16.06% and a return on equity of 8.55%. During the same quarter last year, the business posted $1.16 earnings per share. Research analysts expect that UMB Financial Corp will post 4.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be issued a $0.31 dividend. The ex-dividend date is Monday, December 9th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.85%. UMB Financial’s dividend payout ratio (DPR) is 29.78%.
A number of research firms recently issued reports on UMBF. BidaskClub raised shares of UMB Financial from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. Zacks Investment Research cut shares of UMB Financial from a “hold” rating to a “sell” rating and set a $71.00 target price on the stock. in a research note on Sunday, November 3rd. Stephens restated a “buy” rating and set a $75.00 target price on shares of UMB Financial in a research note on Monday, September 16th. Finally, ValuEngine cut shares of UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. UMB Financial currently has an average rating of “Hold” and an average price target of $72.33.
About UMB Financial
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. It operates through four segments: Commercial Banking, Institutional Banking, Personal Banking, and Healthcare Services. The Commercial Banking segment provides commercial loans, commercial credit cards, letters of credit, loan syndication services, consultative services, and various financial options; capital markets services, including asset-based financing, asset securitization, equity and mezzanine financing, factoring, and private and public placement of senior debt, as well as merger and acquisition consulting; and depository, account reconciliation, electronic fund transfer, controlled disbursements, lockbox, and remote deposit capture services.
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