Formula Growth Ltd. Acquires Shares of 42,100 UMB Financial Co. (NASDAQ:UMBF)

Formula Growth Ltd. bought a new position in shares of UMB Financial Co. (NASDAQ:UMBF) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 42,100 shares of the bank’s stock, valued at approximately $4,751,000. UMB Financial accounts for about 1.6% of Formula Growth Ltd.’s investment portfolio, making the stock its 14th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UMBF. USA Financial Formulas increased its stake in UMB Financial by 124.7% during the 4th quarter. USA Financial Formulas now owns 483 shares of the bank’s stock worth $55,000 after acquiring an additional 268 shares during the period. Covestor Ltd grew its holdings in shares of UMB Financial by 28.8% during the 4th quarter. Covestor Ltd now owns 555 shares of the bank’s stock worth $63,000 after purchasing an additional 124 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in UMB Financial in the fourth quarter valued at about $96,000. Steward Partners Investment Advisory LLC bought a new stake in UMB Financial during the fourth quarter worth about $103,000. Finally, R Squared Ltd acquired a new stake in UMB Financial during the fourth quarter worth about $117,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

UMB Financial Price Performance

Shares of UMBF opened at $91.51 on Friday. The business has a 50-day simple moving average of $100.79 and a two-hundred day simple moving average of $110.81. UMB Financial Co. has a 12-month low of $76.00 and a 12-month high of $129.94. The stock has a market cap of $6.65 billion, a PE ratio of 10.18 and a beta of 0.71. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data 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 net margin of 15.76% and a return on equity of 13.73%. During the same period last year, the firm posted $2.29 earnings per share. Analysts anticipate that UMB Financial Co. will post 9.66 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a dividend of $0.40 per share. 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%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on UMBF shares. StockNews.com upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 3rd. Morgan Stanley cut their target price on UMB Financial from $156.00 to $146.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Bank of America started coverage on UMB Financial in a report on Wednesday. They issued a “buy” rating and a $105.00 target price on the stock. Barclays dropped their price objective on UMB Financial from $139.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their target price on UMB Financial from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, UMB Financial has a consensus rating of “Moderate Buy” and an average price target of $122.13.

Insider Buying and Selling

In other news, CEO J Mariner Kemper sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $108.61, for a total value of $380,135.00. Following the transaction, the chief executive officer now owns 334,347 shares in the company, valued at approximately $36,313,427.67. The trade was a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Charles Gallagher sold 527 shares of the company’s stock in a transaction 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 directly owns 13,010 shares in the company, valued at approximately $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. 5.45% of the stock is currently owned by 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.