Manchester Capital Management LLC Takes Position in UMB Financial Corp (UMBF)
Manchester Capital Management LLC purchased a new position in UMB Financial Corp (NASDAQ:UMBF) during the 1st quarter, HoldingsChannel reports. The fund purchased 523 shares of the bank’s stock, valued at approximately $33,000.
A number of other hedge funds have also recently modified their holdings of UMBF. Two Sigma Advisers LP boosted its holdings in UMB Financial by 54.7% in the fourth quarter. Two Sigma Advisers LP now owns 35,918 shares of the bank’s stock worth $2,190,000 after acquiring an additional 12,700 shares in the last quarter. Meritage Portfolio Management lifted its holdings in shares of UMB Financial by 0.6% during the fourth quarter. Meritage Portfolio Management now owns 31,328 shares of the bank’s stock valued at $1,910,000 after purchasing an additional 200 shares in the last quarter. Atwood & Palmer Inc. lifted its holdings in shares of UMB Financial by 990.8% during the fourth quarter. Atwood & Palmer Inc. now owns 6,894 shares of the bank’s stock valued at $420,000 after purchasing an additional 6,262 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of UMB Financial by 21.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 462,997 shares of the bank’s stock valued at $28,229,000 after purchasing an additional 82,152 shares in the last quarter. Finally, Cigna Investments Inc. New bought a new position in shares of UMB Financial during the fourth quarter valued at $236,000. 86.64% of the stock is currently owned by institutional investors.
Shares of NASDAQ:UMBF opened at $65.05 on Friday. The firm has a market cap of $3.19 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.88 and a beta of 0.87. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.69 and a current ratio of 0.69. UMB Financial Corp has a 1 year low of $57.00 and a 1 year high of $82.14.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Friday, June 7th. UMB Financial’s dividend payout ratio is 29.78%.
A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded UMB Financial from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. BidaskClub raised UMB Financial from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Stephens set a $74.00 price target on UMB Financial and gave the company a “buy” rating in a report on Tuesday, April 23rd. Finally, Raymond James upped their price target on UMB Financial from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $73.25.
In other UMB Financial news, EVP James Cornelius sold 800 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $69.38, for a total value of $55,504.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman J Mariner Kemper sold 5,800 shares of the stock in a transaction dated Wednesday, May 8th. The shares were 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 directly owns 188,711 shares in the company, valued at approximately $13,441,884.53. The disclosure for this sale can be found here. In the last three months, insiders sold 15,103 shares of company stock worth $1,061,288. 10.45% of the stock is owned by corporate insiders.
About UMB Financial
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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