Convergence Investment Partners LLC Has $1.46 Million Stock Position in UMB Financial Co. (NASDAQ:UMBF)

Convergence Investment Partners LLC lifted its holdings in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 29.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,951 shares of the bank's stock after buying an additional 2,930 shares during the period. Convergence Investment Partners LLC's holdings in UMB Financial were worth $1,462,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of UMBF. Venturi Wealth Management LLC bought a new position in UMB Financial in the 4th quarter worth about $96,000. Truist Financial Corp grew its position in UMB Financial by 0.4% in the 4th quarter. Truist Financial Corp now owns 19,565 shares of the bank's stock worth $2,208,000 after purchasing an additional 83 shares during the last quarter. Monument Capital Management grew its position in UMB Financial by 9.6% in the 4th quarter. Monument Capital Management now owns 2,920 shares of the bank's stock worth $330,000 after purchasing an additional 255 shares during the last quarter. Congress Asset Management Co. grew its position in UMB Financial by 8.0% in the 4th quarter. Congress Asset Management Co. now owns 125,604 shares of the bank's stock worth $14,176,000 after purchasing an additional 9,349 shares during the last quarter. Finally, Rhumbline Advisers grew its position in UMB Financial by 0.3% in the 4th quarter. Rhumbline Advisers now owns 157,642 shares of the bank's stock worth $17,791,000 after purchasing an additional 510 shares during the last quarter. Institutional investors own 87.78% of the company's stock.

Insider Activity at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 24,300 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $124.95, for a total value of $3,036,285.00. Following the transaction, the chief executive officer now owns 1,552,304 shares in the company, valued at approximately $193,960,384.80. This represents a 1.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Charles Gallagher sold 527 shares of the company's 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 transaction, the director now owns 13,010 shares in the company, valued at approximately $1,484,831.30. This represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. 8.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays upped their target price on shares of UMB Financial from $123.00 to $139.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $128.00 price objective on shares of UMB Financial in a report on Thursday, January 30th. Citigroup reiterated 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. Wells Fargo & Company increased their price objective on shares of UMB Financial from $107.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Finally, Piper Sandler increased their price objective on shares of UMB Financial from $142.00 to $143.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $130.14.

UMB Financial Price Performance

UMBF stock traded down $3.05 on Friday, hitting $106.91. 467,773 shares of the company's stock traded hands, compared to its average volume of 820,670. UMB Financial Co. has a 1-year low of $76.00 and a 1-year high of $129.94. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 11.89 and a beta of 0.82. The stock has a fifty day moving average of $115.63 and a 200-day moving average of $111.43. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, January 28th. The bank reported $2.49 EPS for the quarter, beating the consensus estimate 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 quarter last year, the firm earned $2.29 earnings per share. On average, analysts forecast that UMB Financial Co. will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.50%. UMB Financial's dividend payout ratio (DPR) is presently 17.80%.

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.