Global Alpha Capital Management Ltd. Decreases Position in UMB Financial Corp (UMBF)
Global Alpha Capital Management Ltd. lessened its holdings in shares of UMB Financial Corp (NASDAQ:UMBF) by 34.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 281,514 shares of the bank’s stock after selling 149,100 shares during the quarter. UMB Financial comprises 3.4% of Global Alpha Capital Management Ltd.’s portfolio, making the stock its 8th biggest holding. Global Alpha Capital Management Ltd.’s holdings in UMB Financial were worth $18,028,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Quadrant Capital Group LLC raised its stake in UMB Financial by 1,700.0% during the 1st quarter. Quadrant Capital Group LLC now owns 468 shares of the bank’s stock valued at $29,000 after purchasing an additional 442 shares during the period. Toronto Dominion Bank bought a new stake in UMB Financial in the 4th quarter worth approximately $33,000. Brand Asset Management Group Inc. bought a new stake in UMB Financial in the 4th quarter worth approximately $58,000. First Quadrant L P CA bought a new stake in UMB Financial in the 4th quarter worth approximately $153,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in UMB Financial by 14.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,255 shares of the bank’s stock worth $198,000 after acquiring an additional 408 shares during the last quarter. 88.46% of the stock is currently owned by institutional investors.
UMBF has been the topic of a number of research reports. BidaskClub raised UMB Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Zacks Investment Research raised UMB Financial from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Monday, April 29th. Stephens set a $74.00 price objective on UMB Financial and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Raymond James raised UMB Financial from a “market perform” rating to an “outperform” rating and set a $70.00 price objective on the stock in a research note on Thursday, January 31st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $73.25.
UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.09. UMB Financial had a return on equity of 8.90% and a net margin of 16.66%. The business had revenue of $271.30 million for the quarter, compared to the consensus estimate of $262.18 million. During the same quarter in the previous year, the company posted $1.18 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. As a group, analysts anticipate that UMB Financial Corp will post 4.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Friday, June 7th. UMB Financial’s payout ratio is 29.78%.
In other news, EVP James Cornelius sold 800 shares of UMB Financial stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $69.38, for a total value of $55,504.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman J Mariner Kemper sold 5,800 shares of UMB Financial stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $71.23, for a total value of $413,134.00. Following the completion of the transaction, the chairman now owns 188,711 shares of the company’s stock, valued at approximately $13,441,884.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,103 shares of company stock worth $1,061,288. Corporate insiders own 10.45% of the company’s stock.
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UMB Financial Company Profile
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. It operates through four segments: Commercial Banking, Institutional Banking, Personal Banking, and Healthcare Services. The Commercial Banking segment provides commercial loans, commercial credit cards, letters of credit, loan syndication services, consultative services, and various financial options; capital markets services, including asset-based financing, asset securitization, equity and mezzanine financing, factoring, and private and public placement of senior debt, as well as merger and acquisition consulting; and depository, account reconciliation, electronic fund transfer, controlled disbursements, lockbox, and remote deposit capture services.
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