Kornitzer Capital Management Inc. KS Makes New $236,000 Investment in UMB Financial Co. (NASDAQ:UMBF)

Kornitzer Capital Management Inc. KS bought a new position in UMB Financial Co. (NASDAQ:UMBF) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,820 shares of the bank’s stock, valued at approximately $236,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in UMB Financial by 7.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,013 shares of the bank’s stock worth $837,000 after purchasing an additional 730 shares during the period. Mackenzie Financial Corp bought a new position in shares of UMB Financial in the fourth quarter valued at $228,000. Strs Ohio increased its holdings in shares of UMB Financial by 1,841.9% in the fourth quarter. Strs Ohio now owns 83,500 shares of the bank’s stock valued at $6,976,000 after buying an additional 79,200 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of UMB Financial in the fourth quarter valued at $1,028,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of UMB Financial by 1.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,842,050 shares of the bank’s stock valued at $153,903,000 after buying an additional 23,689 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

UMB Financial Stock Up 1.5 %

UMBF opened at $81.44 on Monday. UMB Financial Co. has a fifty-two week low of $50.68 and a fifty-two week high of $87.36. The business has a 50-day moving average of $81.65 and a 200-day moving average of $76.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $3.97 billion, a PE ratio of 11.34 and a beta of 0.83.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Wednesday, January 31st. The bank reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.53. UMB Financial had a return on equity of 13.75% and a net margin of 14.70%. The company had revenue of $370.80 million during the quarter, compared to the consensus estimate of $360.69 million. During the same period last year, the business earned $2.06 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis. Equities research analysts forecast that UMB Financial Co. will post 7.29 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, March 8th. UMB Financial’s dividend payout ratio (DPR) is presently 21.73%.

Wall Street Analysts Forecast Growth

UMBF has been the topic of several research reports. Raymond James upped their price target on UMB Financial from $80.00 to $102.00 and gave the company a “strong-buy” rating in a report on Thursday, February 1st. Wells Fargo & Company upped their price target on UMB Financial from $85.00 to $88.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. StockNews.com upgraded UMB Financial from a “sell” rating to a “hold” rating in a research report on Saturday, March 16th. Barclays started coverage on UMB Financial in a research report on Friday, March 8th. They set an “equal weight” rating and a $91.00 price objective for the company. Finally, Piper Sandler raised their price objective on UMB Financial from $87.50 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Insider Activity at UMB Financial

In related news, CEO J Mariner Kemper sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $83.10, for a total value of $290,850.00. Following the transaction, the chief executive officer now directly owns 252,114 shares of the company’s stock, valued at approximately $20,950,673.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP John Pauls sold 1,440 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $79.51, for a total value of $114,494.40. Following the transaction, the executive vice president now directly owns 8,496 shares of the company’s stock, valued at approximately $675,516.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Mariner Kemper sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $83.10, for a total value of $290,850.00. Following the completion of the transaction, the chief executive officer now directly owns 252,114 shares in the company, valued at $20,950,673.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,277 shares of company stock valued at $2,264,661. Corporate insiders own 8.85% of the company’s stock.

UMB Financial Company Profile

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. 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.