Congress Asset Management Co. Has $14.18 Million Stock Position in UMB Financial Co. (NASDAQ:UMBF)

Congress Asset Management Co. lifted its stake in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,604 shares of the bank's stock after acquiring an additional 9,349 shares during the period. Congress Asset Management Co. owned approximately 0.26% of UMB Financial worth $14,176,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Rhumbline Advisers grew its stake in shares of UMB Financial by 0.3% in the fourth quarter. Rhumbline Advisers now owns 157,642 shares of the bank's stock worth $17,791,000 after acquiring an additional 510 shares during the last quarter. Vontobel Holding Ltd. lifted its position in UMB Financial by 107.8% in the fourth quarter. Vontobel Holding Ltd. now owns 5,545 shares of the bank's stock worth $626,000 after purchasing an additional 2,877 shares during the period. R Squared Ltd bought a new position in UMB Financial in the fourth quarter worth $117,000. Pacer Advisors Inc. lifted its position in UMB Financial by 27.8% in the fourth quarter. Pacer Advisors Inc. now owns 8,245 shares of the bank's stock worth $931,000 after purchasing an additional 1,795 shares during the period. Finally, KBC Group NV lifted its position in UMB Financial by 52.5% in the fourth quarter. KBC Group NV now owns 2,004 shares of the bank's stock worth $226,000 after purchasing an additional 690 shares during the period. Institutional investors and hedge funds own 87.78% of the company's stock.

UMB Financial Price Performance

Shares of NASDAQ UMBF traded down $0.91 during midday trading on Wednesday, reaching $113.02. 609,392 shares of the company traded hands, compared to its average volume of 841,912. The firm has a market cap of $5.52 billion, a PE ratio of 12.57 and a beta of 0.82. The stock's 50-day simple moving average is $115.87 and its 200-day simple moving average is $111.44. UMB Financial Co. has a 12 month low of $76.00 and a 12 month high of $129.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly 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 return on equity of 13.73% and a net margin of 15.76%. During the same period in the previous year, the business earned $2.29 earnings per share. As a group, equities analysts anticipate that UMB Financial Co. will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $0.40 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.42%. UMB Financial's dividend payout ratio is 17.80%.

Wall Street Analyst Weigh In

Several brokerages recently commented on UMBF. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $128.00 target price on shares of UMB Financial in a research report on Thursday, January 30th. Piper Sandler raised their target price on UMB Financial from $142.00 to $143.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Morgan Stanley began coverage on UMB Financial in a research report on Thursday, November 21st. They issued an "overweight" rating and a $156.00 target price for the company. Citigroup reaffirmed a "neutral" rating and issued a $127.00 target price (down from $130.00) on shares of UMB Financial in a research report on Monday, February 3rd. Finally, StockNews.com raised UMB Financial from a "sell" rating to a "hold" rating in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $130.14.

Insider Activity at UMB Financial

In related news, Director Kevin Charles Gallagher sold 527 shares of UMB Financial stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $114.13, for a total value of $60,146.51. Following the completion of the sale, the director now directly owns 13,010 shares in the company, valued at $1,484,831.30. This trade represents a 3.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Brian Beaird sold 854 shares of UMB Financial stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $123.38, for a total value of $105,366.52. Following the completion of the sale, the insider now owns 5,828 shares of the company's stock, valued at approximately $719,058.64. The trade was 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 ninety days. 8.85% of the stock is owned by insiders.

UMB Financial Company 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.