GW&K Investment Management LLC Sells 24,681 Shares of UMB Financial Corporation $UMBF

GW&K Investment Management LLC decreased its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF) by 3.3% during the fourth quarter, HoldingsChannel reports. The fund owned 718,277 shares of the bank’s stock after selling 24,681 shares during the quarter. UMB Financial comprises about 0.7% of GW&K Investment Management LLC’s investment portfolio, making the stock its 28th biggest holding. GW&K Investment Management LLC’s holdings in UMB Financial were worth $82,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. LPL Financial LLC raised its holdings in UMB Financial by 21.8% during the 4th quarter. LPL Financial LLC now owns 41,703 shares of the bank’s stock valued at $4,798,000 after acquiring an additional 7,476 shares during the period. Franklin Resources Inc. raised its holdings in UMB Financial by 8.4% during the 4th quarter. Franklin Resources Inc. now owns 346,704 shares of the bank’s stock valued at $39,885,000 after acquiring an additional 26,792 shares during the period. CenterBook Partners LP raised its holdings in UMB Financial by 33.1% during the 4th quarter. CenterBook Partners LP now owns 11,818 shares of the bank’s stock valued at $1,360,000 after acquiring an additional 2,939 shares during the period. Hilton Head Capital Partners LLC bought a new stake in UMB Financial during the 4th quarter valued at $34,000. Finally, JPMorgan Chase & Co. raised its holdings in UMB Financial by 16.4% during the 4th quarter. JPMorgan Chase & Co. now owns 369,059 shares of the bank’s stock valued at $42,457,000 after acquiring an additional 52,121 shares during the period. Institutional investors own 87.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on UMBF. Morgan Stanley decreased their price target on shares of UMB Financial from $156.00 to $143.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Truist Financial set a $140.00 price target on shares of UMB Financial in a report on Friday, May 1st. Weiss Ratings raised shares of UMB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Piper Sandler upped their price target on shares of UMB Financial from $152.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, TD Cowen upped their price target on shares of UMB Financial from $141.00 to $147.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $145.55.

UMB Financial Stock Up 2.1%

Shares of NASDAQ:UMBF opened at $131.82 on Wednesday. UMB Financial Corporation has a 52-week low of $98.16 and a 52-week high of $136.11. The firm has a fifty day moving average of $125.08 and a 200 day moving average of $121.15. The firm has a market capitalization of $10.02 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.88 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.59. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. The company had revenue of $739.16 million during the quarter, compared to analyst estimates of $701.79 million. During the same period in the previous year, the business earned $2.58 earnings per share. The firm’s quarterly revenue was up 31.1% compared to the same quarter last year. As a group, research analysts anticipate that UMB Financial Corporation will post 12.76 EPS for the current fiscal year.

UMB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be given a $0.43 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.72 annualized dividend and a yield of 1.3%. UMB Financial’s payout ratio is 15.26%.

UMB Financial Profile

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.