LPL Financial LLC Acquires 12,845 Shares of UMB Financial Co. (NASDAQ:UMBF)

LPL Financial LLC increased its position in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 171.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,329 shares of the bank's stock after purchasing an additional 12,845 shares during the quarter. LPL Financial LLC's holdings in UMB Financial were worth $2,294,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. USA Financial Formulas increased its stake in shares of UMB Financial by 124.7% in the fourth quarter. USA Financial Formulas now owns 483 shares of the bank's stock valued at $55,000 after buying an additional 268 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of UMB Financial in the 4th quarter valued at $96,000. Steward Partners Investment Advisory LLC bought a new position in UMB Financial during the fourth quarter worth $103,000. R Squared Ltd acquired a new position in UMB Financial in the fourth quarter valued at $117,000. Finally, HighTower Advisors LLC acquired a new stake in UMB Financial during the 4th quarter worth about $201,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UMBF has been the topic of several research reports. Piper Sandler upped their price objective on shares of UMB Financial from $142.00 to $143.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Wells Fargo & Company cut their price target on UMB Financial from $120.00 to $105.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada reissued a "sector perform" rating and issued a $128.00 price objective on shares of UMB Financial in a research note on Thursday, January 30th. Bank of America assumed coverage on UMB Financial in a report on Wednesday. They set a "buy" rating and a $105.00 price target for the company. Finally, StockNews.com upgraded UMB Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $122.13.

UMB Financial Stock Performance

NASDAQ UMBF traded up $0.46 during trading on Friday, hitting $91.51. 441,203 shares of the company's stock traded hands, compared to its average volume of 522,172. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 10.18 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75. The business has a 50 day moving average of $100.79 and a 200-day moving average of $110.87. UMB Financial Co. has a 12-month low of $76.00 and a 12-month high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released 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 net margin of 15.76% and a return on equity of 13.73%. During the same period last year, the business posted $2.29 earnings per share. As a group, equities research 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 disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a $0.40 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.75%. UMB Financial's dividend payout ratio (DPR) is presently 17.80%.

Insider Activity at UMB Financial

In related 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 value of $60,146.51. Following the transaction, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J Mariner Kemper sold 3,500 shares of the company's stock in a transaction dated Friday, February 21st. The stock was 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 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 disclosure for this sale can be found here. 5.45% of the stock is owned by corporate insiders.

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.