BTIM Corp. raised its holdings in shares of UMB Financial Corp (NASDAQ:UMBF) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 380,153 shares of the bank’s stock after purchasing an additional 6,103 shares during the quarter. BTIM Corp. owned 0.78% of UMB Financial worth $24,345,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Toronto Dominion Bank acquired a new position in shares of UMB Financial during the 4th quarter valued at $33,000. Brand Asset Management Group Inc. acquired a new position in shares of UMB Financial in the 4th quarter worth $58,000. Tower Research Capital LLC TRC grew its holdings in shares of UMB Financial by 416.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,128 shares of the bank’s stock worth $151,000 after acquiring an additional 1,716 shares during the last quarter. First Quadrant L P CA acquired a new position in shares of UMB Financial in the 4th quarter worth $153,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of UMB Financial by 14.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,255 shares of the bank’s stock worth $198,000 after acquiring an additional 408 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.
A number of brokerages recently issued reports on UMBF. Bank of America cut UMB Financial from a “buy” rating to a “neutral” rating in a report on Thursday, January 10th. Zacks Investment Research cut UMB Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. BidaskClub cut UMB Financial from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Raymond James raised UMB Financial from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a research report on Thursday, January 31st. Finally, Stephens set a $74.00 target price on UMB Financial and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. UMB Financial has an average rating of “Hold” and a consensus price target of $73.25.
UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.09. The company had revenue of $271.30 million during the quarter, compared to analysts’ expectations of $262.18 million. UMB Financial had a return on equity of 8.90% and a net margin of 16.66%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 earnings per share. As a group, research analysts expect that UMB Financial Corp will post 4.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.71%. UMB Financial’s payout ratio is presently 29.78%.
In other UMB Financial news, Chairman J Mariner Kemper sold 3,999 shares of UMB Financial stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $71.22, for a total transaction of $284,808.78. Following the sale, the chairman now directly owns 188,711 shares of the company’s stock, valued at $13,439,997.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Cornelius sold 800 shares of UMB Financial stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $69.38, for a total value of $55,504.00. The disclosure for this sale can be found here. Insiders sold 9,303 shares of company stock worth $648,154 over the last quarter. 10.45% of the stock is currently owned by corporate insiders.
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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. 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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