Magnus Financial Group LLC Acquires New Position in UMB Financial Corp (UMBF)

Magnus Financial Group LLC acquired a new stake in shares of UMB Financial Corp (NASDAQ:UMBF) during the 1st quarter, HoldingsChannel reports. The fund acquired 3,173 shares of the bank’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of UMB Financial by 3.2% during the fourth quarter. BlackRock Inc. now owns 5,364,714 shares of the bank’s stock valued at $327,087,000 after buying an additional 164,038 shares during the period. American Century Companies Inc. lifted its stake in shares of UMB Financial by 23.7% during the fourth quarter. American Century Companies Inc. now owns 3,195,954 shares of the bank’s stock valued at $194,857,000 after buying an additional 612,931 shares during the period. Victory Capital Management Inc. lifted its stake in shares of UMB Financial by 8.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,386,897 shares of the bank’s stock valued at $84,559,000 after buying an additional 103,455 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of UMB Financial by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,255,563 shares of the bank’s stock valued at $76,552,000 after buying an additional 48,221 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of UMB Financial by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 550,276 shares of the bank’s stock valued at $33,550,000 after buying an additional 34,682 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

In other news, Chairman J Mariner Kemper sold 5,800 shares of the stock in a transaction on 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 sale, the chairman now owns 188,711 shares of the company’s stock, valued at $13,441,884.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Cornelius sold 800 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $69.38, for a total transaction of $55,504.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,103 shares of company stock worth $1,061,288. 10.45% of the stock is currently owned by insiders.

UMBF has been the topic of several recent analyst reports. Raymond James raised shares of 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. BidaskClub downgraded shares of UMB Financial from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Zacks Investment Research raised shares of UMB Financial from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Monday, April 29th. Finally, Stephens set a $74.00 price target on shares of UMB Financial and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. UMB Financial currently has a consensus rating of “Hold” and a consensus price target of $73.25.

NASDAQ:UMBF opened at $65.05 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.03. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.80 and a beta of 0.87. UMB Financial Corp has a fifty-two week low of $57.00 and a fifty-two week high of $82.14.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.09. The company had revenue of $271.30 million for the quarter, compared to the consensus estimate of $262.18 million. UMB Financial had a net margin of 16.66% and a return on equity of 8.90%. UMB Financial’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 earnings per share. On average, equities analysts predict that UMB Financial Corp will post 4.78 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Friday, June 7th. UMB Financial’s dividend payout ratio is currently 29.78%.

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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.

Further Reading: Forex

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Institutional Ownership by Quarter for UMB Financial (NASDAQ:UMBF)

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