Norges Bank Makes New $15.84 Million Investment in UMB Financial Co. (NASDAQ:UMBF)

Norges Bank acquired a new stake in UMB Financial Co. (NASDAQ:UMBF - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 140,309 shares of the bank's stock, valued at approximately $15,835,000. Norges Bank owned about 0.29% of UMB Financial at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. USA Financial Formulas raised its position in UMB Financial by 124.7% in the 4th quarter. USA Financial Formulas now owns 483 shares of the bank's stock worth $55,000 after purchasing an additional 268 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of UMB Financial in the third quarter worth approximately $83,000. Venturi Wealth Management LLC bought a new stake in shares of UMB Financial during the 4th quarter worth approximately $96,000. Steward Partners Investment Advisory LLC purchased a new position in UMB Financial during the 4th quarter valued at $103,000. Finally, R Squared Ltd bought a new position in UMB Financial in the 4th quarter valued at $117,000. Hedge funds and other institutional investors own 87.78% of the company's stock.

UMB Financial Stock Down 2.0 %

UMBF stock traded down $1.74 during trading on Friday, hitting $86.40. 1,333,853 shares of the company's stock traded hands, compared to its average volume of 513,234. The firm has a market capitalization of $6.28 billion, a P/E ratio of 9.61 and a beta of 0.71. UMB Financial Co. has a 1 year low of $76.00 and a 1 year high of $129.94. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $103.23 and a two-hundred day simple moving average of $111.31.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced 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 prior year, the firm posted $2.29 EPS. Sell-side analysts anticipate that UMB Financial Co. will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.85%. UMB Financial's dividend payout ratio is presently 17.80%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UMBF. StockNews.com raised shares of UMB Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. Morgan Stanley lowered their price objective on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Piper Sandler upped 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. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $128.00 price target on shares of UMB Financial in a research note on Thursday, January 30th. Finally, Barclays reduced their price objective on UMB Financial from $139.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $124.57.

Insider Activity

In related news, Director Kevin Charles Gallagher sold 527 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $114.13, for a total transaction of $60,146.51. Following the completion of the sale, 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 SEC, which is available at this link. Also, CEO J Mariner Kemper sold 3,500 shares of UMB Financial stock in a transaction on Friday, February 21st. The stock was sold at an average price of $108.61, for a total transaction of $380,135.00. Following the completion of the transaction, the chief executive officer now directly owns 334,347 shares in the company, valued at $36,313,427.67. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.45% of the company's stock.

About UMB Financial

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.