Cinctive Capital Management LP Invests $1.52 Million in UMB Financial Co. (NASDAQ:UMBF)

Cinctive Capital Management LP bought a new stake in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,415 shares of the bank's stock, valued at approximately $1,515,000.

A number of other institutional investors and hedge funds also recently modified their holdings of UMBF. Covestor Ltd boosted its stake in shares of UMB Financial by 31.0% during the third quarter. Covestor Ltd now owns 431 shares of the bank's stock valued at $45,000 after purchasing an additional 102 shares in the last quarter. CWM LLC lifted its position in shares of UMB Financial by 7.1% during the 2nd quarter. CWM LLC now owns 1,941 shares of the bank's stock valued at $162,000 after buying an additional 129 shares during the last quarter. Truist Financial Corp lifted its holdings in UMB Financial by 3.3% during the 2nd quarter. Truist Financial Corp now owns 4,238 shares of the bank's stock worth $354,000 after purchasing an additional 136 shares in the last quarter. Commerce Bank lifted its holdings in UMB Financial by 0.3% during the 3rd quarter. Commerce Bank now owns 41,708 shares of the bank's stock worth $4,384,000 after purchasing an additional 142 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in UMB Financial by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank's stock worth $4,496,000 after acquiring an additional 200 shares during the last quarter. 87.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on UMBF shares. Wells Fargo & Company lifted their price target on UMB Financial from $107.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Barclays upped their price target on UMB Financial from $118.00 to $123.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. StockNews.com lowered UMB Financial from a "hold" rating to a "sell" rating in a research note on Monday. Citigroup started coverage on UMB Financial in a research note on Thursday, October 10th. They set a "buy" rating and a $127.00 price target for the company. Finally, Royal Bank of Canada initiated coverage on UMB Financial in a report on Friday, November 22nd. They issued a "sector perform" rating and a $130.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $122.00.

Insider Activity

In related news, Director Kris A. Robbins sold 5,000 shares of the company's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.50, for a total transaction of $512,500.00. Following the completion of the sale, the director now directly owns 3,211 shares in the company, valued at $329,127.50. This represents a 60.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total value of $2,473,983.00. Following the completion of the sale, the chief executive officer now directly owns 1,600,904 shares of the company's stock, valued at approximately $162,988,036.24. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,603 shares of company stock worth $8,866,450. 8.85% of the stock is owned by corporate insiders.

UMB Financial Stock Up 0.9 %

Shares of NASDAQ:UMBF traded up $1.08 during midday trading on Wednesday, hitting $127.13. 558,235 shares of the company's stock traded hands, compared to its average volume of 364,725. UMB Financial Co. has a twelve month low of $75.03 and a twelve month high of $129.94. The firm's fifty day moving average price is $114.05 and its two-hundred day moving average price is $99.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $6.20 billion, a PE ratio of 15.89 and a beta of 0.80.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, topping the consensus estimate of $2.20 by $0.05. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. The firm had revenue of $716.44 million for the quarter, compared to analysts' expectations of $398.83 million. During the same period in the previous year, the business earned $2.02 earnings per share. On average, equities research analysts anticipate that UMB Financial Co. will post 9.21 EPS for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, December 10th. This is a positive change from UMB Financial's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.26%. UMB Financial's dividend payout ratio (DPR) is 19.50%.

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.