King Luther Capital Management Corp Buys 32,820 Shares of UMB Financial Co. (NASDAQ:UMBF)

King Luther Capital Management Corp increased its stake in UMB Financial Co. (NASDAQ:UMBF) by 229.6% in the 3rd quarter, Holdings Channel reports. The fund owned 47,116 shares of the bank’s stock after buying an additional 32,820 shares during the quarter. King Luther Capital Management Corp’s holdings in UMB Financial were worth $4,952,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in UMB Financial in the 3rd quarter worth $26,000. Covestor Ltd boosted its holdings in UMB Financial by 31.0% during the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after acquiring an additional 102 shares during the period. 1620 Investment Advisors Inc. bought a new position in UMB Financial during the 2nd quarter worth approximately $128,000. CWM LLC increased its stake in UMB Financial by 7.1% in the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after purchasing an additional 129 shares during the period. Finally, Heritage Family Offices LLP bought a new stake in UMB Financial in the third quarter valued at approximately $203,000. Institutional investors own 87.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Piper Sandler lifted their target price on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Barclays upped their price objective on shares of UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Citigroup assumed coverage on UMB Financial in a research note on Thursday, October 10th. They issued a “buy” rating and a $127.00 target price on the stock. StockNews.com lowered UMB Financial from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Royal Bank of Canada initiated coverage on UMB Financial in a research report on Friday. They issued a “sector perform” rating and a $130.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, UMB Financial currently has an average rating of “Moderate Buy” and an average target price of $122.00.

Insider Buying and Selling

In related news, Director Greg M. Graves bought 258 shares of the company’s stock in a transaction on Friday, November 1st. The shares were acquired at an average cost of $109.29 per share, with a total value of $28,196.82. Following the completion of the acquisition, the director now owns 36,244 shares of the company’s stock, valued at $3,961,106.76. The trade was a 0.72 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kris A. Robbins sold 5,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the sale, the director now directly owns 3,211 shares in the company, valued at approximately $329,127.50. This represents a 60.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,303 shares of company stock worth $5,830,165 in the last three months. 8.85% of the stock is owned by corporate insiders.

UMB Financial Stock Performance

UMB Financial stock opened at $125.00 on Friday. UMB Financial Co. has a fifty-two week low of $69.96 and a fifty-two week high of $128.73. The stock’s 50 day simple moving average is $110.41 and its two-hundred day simple moving average is $96.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 15.63 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.05. The company had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same period in the previous year, the company posted $2.02 earnings per share. As a group, analysts expect that UMB Financial Co. will post 9.33 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a $0.40 dividend. The ex-dividend date is Tuesday, December 10th. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.28%. UMB Financial’s dividend payout ratio is currently 19.50%.

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.