King Luther Capital Management Corp Acquires 6,419 Shares of UMB Financial Co. (NASDAQ:UMBF)

King Luther Capital Management Corp boosted its holdings in UMB Financial Co. (NASDAQ:UMBF) by 13.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,535 shares of the bank’s stock after purchasing an additional 6,419 shares during the period. King Luther Capital Management Corp’s holdings in UMB Financial were worth $6,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Truist Financial Corp increased its position in shares of UMB Financial by 0.4% in the fourth quarter. Truist Financial Corp now owns 19,565 shares of the bank’s stock valued at $2,208,000 after acquiring an additional 83 shares during the last quarter. Covestor Ltd raised its stake in shares of UMB Financial by 31.0% during the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after purchasing an additional 102 shares in the last quarter. Heritage Family Offices LLP boosted its holdings in shares of UMB Financial by 6.5% in the 4th quarter. Heritage Family Offices LLP now owns 2,059 shares of the bank’s stock valued at $232,000 after buying an additional 125 shares during the last quarter. Commerce Bank grew its stake in shares of UMB Financial by 0.3% in the third quarter. Commerce Bank now owns 41,708 shares of the bank’s stock valued at $4,384,000 after buying an additional 142 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in UMB Financial by 5.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 3,634 shares of the bank’s stock worth $410,000 after buying an additional 186 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

UMB Financial Stock Performance

NASDAQ:UMBF opened at $98.00 on Wednesday. The stock has a 50 day simple moving average of $112.82 and a 200 day simple moving average of $112.53. The stock has a market cap of $7.11 billion, a P/E ratio of 10.90 and a beta of 0.79. UMB Financial Co. has a 1-year low of $76.00 and a 1-year high of $129.94. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, January 28th. The bank reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. During the same period in the previous year, the firm earned $2.29 earnings per share. Research analysts anticipate that UMB Financial Co. will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.63%. UMB Financial’s payout ratio is presently 17.80%.

Insider Transactions at UMB Financial

In other news, Director Kevin Charles Gallagher sold 527 shares of the stock in a transaction 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO J Mariner Kemper sold 3,500 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $108.61, for a total value of $380,135.00. Following the completion of the transaction, the chief executive officer now directly owns 334,347 shares of the company’s stock, valued at approximately $36,313,427.67. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on UMBF. Barclays lifted their price objective on shares of UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $128.00 price target on shares of UMB Financial in a research report on Thursday, January 30th. Citigroup restated a “neutral” rating and issued a $127.00 price objective (down previously from $130.00) on shares of UMB Financial in a research note on Monday, February 3rd. Piper Sandler lifted their target price on UMB Financial from $142.00 to $143.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Morgan Stanley started coverage on UMB Financial in a research note on Thursday, November 21st. They issued an “overweight” rating and a $156.00 price target on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.