Envestnet Portfolio Solutions Inc. Has $559,000 Stock Holdings in UMB Financial Corporation (NASDAQ:UMBF)

Envestnet Portfolio Solutions Inc. decreased its holdings in UMB Financial Corporation (NASDAQ:UMBF) by 8.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 5,532 shares of the bank’s stock after selling 478 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in UMB Financial were worth $559,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Truist Financial Corp grew its holdings in UMB Financial by 0.4% during the 4th quarter. Truist Financial Corp now owns 19,565 shares of the bank’s stock worth $2,208,000 after acquiring an additional 83 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in UMB Financial by 21.0% during the 4th quarter. Handelsbanken Fonder AB now owns 10,930 shares of the bank’s stock worth $1,234,000 after acquiring an additional 1,900 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in UMB Financial during the 4th quarter worth about $748,000. Amalgamated Bank grew its holdings in UMB Financial by 1.9% during the 4th quarter. Amalgamated Bank now owns 20,361 shares of the bank’s stock worth $2,298,000 after acquiring an additional 376 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in UMB Financial by 3.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 8,144 shares of the bank’s stock worth $919,000 after acquiring an additional 236 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of UMB Financial in a research note on Wednesday, April 16th. They issued a “buy” rating and a $105.00 target price on the stock. Royal Bank Of Canada reduced their target price on shares of UMB Financial from $128.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley reduced their target price on shares of UMB Financial from $156.00 to $146.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company raised their target price on shares of UMB Financial from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, May 1st. Finally, Barclays reduced their target price on shares of UMB Financial from $139.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $122.88.

UMB Financial Price Performance

NASDAQ UMBF opened at $106.14 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. UMB Financial Corporation has a 12-month low of $79.94 and a 12-month high of $129.94. The company has a market capitalization of $8.06 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.20 and a beta of 0.75. The firm’s 50 day moving average is $101.30 and its 200-day moving average is $106.29.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.37. The business had revenue of $563.84 million for the quarter, compared to the consensus estimate of $555.79 million. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The firm’s revenue for the quarter was up 41.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.47 earnings per share. Equities research analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.51%. UMB Financial’s dividend payout ratio (DPR) is 20.13%.

Insiders Place Their Bets

In other news, CEO J Mariner Kemper sold 5,412 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the sale, the chief executive officer now owns 288,945 shares of the company’s stock, valued at approximately $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.45% of the company’s stock.

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.