Amalgamated Bank Buys 9,588 Shares of UMB Financial Corporation (NASDAQ:UMBF)

Amalgamated Bank lifted its stake in UMB Financial Corporation (NASDAQ:UMBF) by 47.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,949 shares of the bank’s stock after acquiring an additional 9,588 shares during the period. Amalgamated Bank’s holdings in UMB Financial were worth $3,028,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. KBC Group NV raised its holdings in UMB Financial by 68.5% in the first quarter. KBC Group NV now owns 3,376 shares of the bank’s stock worth $341,000 after purchasing an additional 1,372 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of UMB Financial by 10.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,912,883 shares of the bank’s stock worth $192,302,000 after acquiring an additional 174,088 shares in the last quarter. Wealthquest Corp bought a new position in shares of UMB Financial during the 1st quarter worth approximately $393,000. Oppenheimer & Co. Inc. bought a new position in shares of UMB Financial during the 1st quarter worth approximately $1,412,000. Finally, Oppenheimer Asset Management Inc. increased its position in shares of UMB Financial by 430.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 43,172 shares of the bank’s stock worth $4,365,000 after purchasing an additional 35,028 shares in the last quarter. 87.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Morgan Stanley reduced their price target on UMB Financial from $156.00 to $146.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Royal Bank Of Canada reduced their target price on UMB Financial from $128.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 1st. Barclays reduced their target price on UMB Financial from $139.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen downgraded shares of UMB Financial from a “hold” rating to a “sell” rating in a report on Friday, May 2nd. Finally, Bank of America assumed coverage on shares of UMB Financial in a report on Wednesday, April 16th. They set a “buy” rating and a $105.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, UMB Financial currently has a consensus rating of “Moderate Buy” and an average target price of $122.88.

Insiders Place Their Bets

In related news, CEO J Mariner Kemper sold 5,412 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $101.81, for a total transaction of $550,995.72. Following the sale, the chief executive officer directly owned 288,945 shares of the company’s stock, valued at $29,417,490.45. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.45% of the company’s stock.

UMB Financial Price Performance

Shares of NASDAQ:UMBF opened at $110.35 on Friday. UMB Financial Corporation has a twelve month low of $81.01 and a twelve month high of $129.94. The company’s 50 day moving average is $103.01 and its 200 day moving average is $105.63. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The company has a market cap of $8.38 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.74.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data 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 firm had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The business’s quarterly revenue was up 41.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.47 earnings per share. On average, sell-side analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, June 10th. UMB Financial’s dividend payout ratio is currently 20.13%.

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.