Convergence Investment Partners LLC Has $1.46 Million Stock Position in UMB Financial Co. (NASDAQ:UMBF)

Convergence Investment Partners LLC grew its position in UMB Financial Co. (NASDAQ:UMBF) by 29.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 12,951 shares of the bank’s stock after purchasing 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 quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of UMB Financial by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,114,251 shares of the bank’s stock valued at $117,139,000 after buying an additional 21,091 shares during the period. FMR LLC grew its stake in shares of UMB Financial by 2.7% during the third quarter. FMR LLC now owns 949,687 shares of the bank’s stock worth $99,822,000 after purchasing an additional 24,799 shares during the period. Principal Financial Group Inc. grew its stake in shares of UMB Financial by 403.7% during the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock worth $91,114,000 after purchasing an additional 694,751 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of UMB Financial by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 580,174 shares of the bank’s stock worth $60,982,000 after purchasing an additional 24,124 shares during the period. Finally, Global Alpha Capital Management Ltd. grew its stake in shares of UMB Financial by 1.7% during the third quarter. Global Alpha Capital Management Ltd. now owns 552,159 shares of the bank’s stock worth $58,037,000 after purchasing an additional 9,400 shares during the period. 87.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at UMB Financial

In related news, Director Kevin Charles Gallagher sold 527 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $114.13, for a total transaction of $60,146.51. Following the completion of the transaction, the director now directly owns 13,010 shares of the company’s stock, valued at approximately $1,484,831.30. This represents a 3.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert Brian Beaird sold 854 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 5,828 shares of the company’s stock, valued at $719,058.64. This trade represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,681 shares of company stock valued at $3,201,798 over the last three months. Company insiders own 8.85% of the company’s stock.

UMB Financial Stock Up 1.9 %

Shares of UMB Financial stock opened at $113.93 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $5.56 billion, a P/E ratio of 12.67 and a beta of 0.82. The business has a 50-day moving average of $116.32 and a two-hundred day moving average of $111.28. UMB Financial Co. has a 1 year low of $76.00 and a 1 year high of $129.94.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $2.49 earnings per share for the quarter, topping the consensus estimate 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 quarter in the previous year, the company earned $2.29 earnings per share. As a group, equities analysts predict that UMB Financial Co. will post 9.66 EPS 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 given a dividend of $0.40 per share. The ex-dividend date is Monday, March 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.40%. UMB Financial’s dividend payout ratio is currently 17.80%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $128.00 price objective on shares of UMB Financial in a research note on Thursday, January 30th. StockNews.com raised UMB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Piper Sandler lifted their price objective on UMB Financial from $142.00 to $143.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Barclays boosted their target price on UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company increased their price target on UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.14.

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.