Meritage Portfolio Management Has $1.12 Million Stake in UMB Financial Co. (NASDAQ:UMBF)

Meritage Portfolio Management trimmed its position in UMB Financial Co. (NASDAQ:UMBF) by 54.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,910 shares of the bank’s stock after selling 11,811 shares during the quarter. Meritage Portfolio Management’s holdings in UMB Financial were worth $1,118,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in UMB Financial in the 3rd quarter valued at approximately $26,000. Covestor Ltd grew its stake in shares of UMB Financial by 31.0% during the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after acquiring an additional 102 shares in the last quarter. USA Financial Formulas raised its holdings in shares of UMB Financial by 124.7% in the fourth quarter. USA Financial Formulas now owns 483 shares of the bank’s stock valued at $55,000 after purchasing an additional 268 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of UMB Financial in the third quarter worth $83,000. Finally, R Squared Ltd acquired a new position in UMB Financial during the fourth quarter worth $117,000. 87.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $128.00 price target on shares of UMB Financial in a research note on Thursday, January 30th. Piper Sandler lifted their target price on UMB Financial from $142.00 to $143.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Wells Fargo & Company increased their price target on UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. StockNews.com upgraded UMB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, Citigroup reiterated a “neutral” rating and set a $127.00 price objective (down previously from $130.00) on shares of UMB Financial in a research note on Monday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.14.

Insiders Place Their Bets

In related news, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $124.95, for a total transaction of $3,036,285.00. Following the sale, the chief executive officer now owns 1,552,304 shares of the company’s stock, valued at $193,960,384.80. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Brian Beaird sold 854 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total value of $105,366.52. Following the transaction, the insider now owns 5,828 shares in the company, valued at approximately $719,058.64. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,681 shares of company stock worth $3,201,798 in the last 90 days. Company insiders own 8.85% of the company’s stock.

UMB Financial Stock Performance

Shares of UMBF stock opened at $117.48 on Thursday. UMB Financial Co. has a 52 week low of $76.00 and a 52 week high of $129.94. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 13.07 and a beta of 0.82. The company has a 50-day simple moving average of $118.39 and a 200 day simple moving average of $110.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75.

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, topping analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. During the same quarter in the previous year, the firm earned $2.29 earnings per share. On average, sell-side analysts predict that UMB Financial Co. will post 9.51 earnings per share for the current year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Monday, March 10th. UMB Financial’s dividend payout ratio is 17.80%.

UMB Financial Company 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.