Assenagon Asset Management S.A. boosted its stake in shares of UMB Financial Co. (NASDAQ:UMBF – Free Report) by 134.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,188 shares of the bank’s stock after buying an additional 29,337 shares during the period. Assenagon Asset Management S.A. owned about 0.11% of UMB Financial worth $2,955,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Signaturefd LLC increased its holdings in shares of UMB Financial by 39.9% in the 4th quarter. Signaturefd LLC now owns 568 shares of the bank’s stock valued at $47,000 after purchasing an additional 162 shares during the period. Captrust Financial Advisors increased its holdings in shares of UMB Financial by 93.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,109 shares of the bank’s stock valued at $95,000 after purchasing an additional 536 shares during the period. US Asset Management LLC acquired a new position in shares of UMB Financial in the 4th quarter valued at about $109,000. Quadrant Capital Group LLC increased its holdings in shares of UMB Financial by 269.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,368 shares of the bank’s stock valued at $114,000 after purchasing an additional 998 shares during the period. Finally, Parallel Advisors LLC increased its holdings in shares of UMB Financial by 31.3% in the 4th quarter. Parallel Advisors LLC now owns 1,453 shares of the bank’s stock valued at $121,000 after purchasing an additional 346 shares during the period. Institutional investors and hedge funds own 86.52% of the company’s stock.
UMB Financial Stock Down 2.4 %
Shares of UMB Financial stock opened at $60.43 on Thursday. The stock has a market capitalization of $2.93 billion, a P/E ratio of 7.03 and a beta of 0.79. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $60.29 and a two-hundred day moving average price of $71.21. UMB Financial Co. has a 12-month low of $50.68 and a 12-month high of $99.19.
UMB Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Monday, June 12th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, June 9th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.52%. UMB Financial’s payout ratio is 17.67%.
Insider Activity at UMB Financial
In other news, Director Janine Davidson bought 500 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was acquired at an average cost of $53.56 per share, for a total transaction of $26,780.00. Following the completion of the purchase, the director now owns 2,572 shares of the company’s stock, valued at approximately $137,756.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.77% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on UMBF. StockNews.com began coverage on UMB Financial in a report on Thursday, May 18th. They issued a “sell” rating on the stock. Wells Fargo & Company lowered their price target on UMB Financial from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 5th. Keefe, Bruyette & Woods lowered their price target on UMB Financial from $90.00 to $74.00 and set a “market perform” rating for the company in a research note on Thursday, April 6th. Finally, Raymond James boosted their price target on UMB Financial from $73.00 to $77.00 in a research note on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, UMB Financial has an average rating of “Hold” and an average price target of $83.80.
UMB Financial Profile
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. 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.
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