Fisher Asset Management LLC Grows Position in UMB Financial Co. (NASDAQ:UMBF)

Fisher Asset Management LLC raised its stake in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 290,326 shares of the bank's stock after acquiring an additional 29,516 shares during the period. Fisher Asset Management LLC owned approximately 0.59% of UMB Financial worth $32,766,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in UMBF. Covestor Ltd boosted its position in shares of UMB Financial by 31.0% during the third quarter. Covestor Ltd now owns 431 shares of the bank's stock worth $45,000 after buying an additional 102 shares during the period. USA Financial Formulas lifted its position in shares of UMB Financial by 124.7% during the fourth quarter. USA Financial Formulas now owns 483 shares of the bank's stock worth $55,000 after purchasing an additional 268 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of UMB Financial in the third quarter valued at approximately $83,000. Venturi Wealth Management LLC purchased a new stake in UMB Financial during the 4th quarter worth approximately $96,000. Finally, R Squared Ltd acquired a new stake in UMB Financial during the 4th quarter worth approximately $117,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Stock Performance

Shares of UMBF traded down $2.20 during midday trading on Thursday, reaching $102.29. 191,300 shares of the stock were exchanged, compared to its average volume of 444,891. UMB Financial Co. has a twelve month low of $76.00 and a twelve month high of $129.94. 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 $4.99 billion, a price-to-earnings ratio of 11.38 and a beta of 0.82. The business's 50-day moving average price is $113.88 and its 200 day moving average price is $112.40.

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UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $2.49 earnings per share 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 company earned $2.29 earnings per share. On average, sell-side analysts expect that UMB Financial Co. will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.56%. UMB Financial's dividend payout ratio is presently 17.80%.

Insider Activity

In other news, CEO J Mariner Kemper sold 3,500 shares of UMB Financial 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 sale, the chief executive officer now owns 334,347 shares of the company's stock, valued at $36,313,427.67. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Charles Gallagher sold 527 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $114.13, for a total transaction of $60,146.51. Following the transaction, the director now directly owns 13,010 shares of the company's stock, valued at $1,484,831.30. This represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on UMBF. Morgan Stanley began coverage on UMB Financial in a report on Thursday, November 21st. They issued an "overweight" rating and a $156.00 target price for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $128.00 target price on shares of UMB Financial in a report on Thursday, January 30th. Barclays boosted their price target on shares of UMB Financial from $123.00 to $139.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Citigroup restated a "neutral" rating and issued a $127.00 price objective (down from $130.00) on shares of UMB Financial in a report on Monday, February 3rd. Finally, Piper Sandler boosted their target price on shares of UMB Financial from $142.00 to $143.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $130.14.

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.