Mackenzie Financial Corp Invests $228,000 in UMB Financial Co. (NASDAQ:UMBF)

Mackenzie Financial Corp purchased a new stake in UMB Financial Co. (NASDAQ:UMBF) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 2,729 shares of the bank’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in UMB Financial in the third quarter worth $74,000. High Net Worth Advisory Group LLC acquired a new stake in UMB Financial during the 4th quarter worth $234,000. Quantbot Technologies LP bought a new position in UMB Financial during the third quarter worth about $179,000. Jones Financial Companies Lllp acquired a new position in UMB Financial in the third quarter valued at about $199,000. Finally, Atria Wealth Solutions Inc. bought a new stake in shares of UMB Financial in the third quarter worth about $215,000. Institutional investors own 87.78% of the company’s stock.

UMB Financial Stock Performance

UMBF opened at $83.17 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.72 and a current ratio of 0.72. The business’s 50-day simple moving average is $81.92 and its 200 day simple moving average is $77.72. The firm has a market capitalization of $4.05 billion, a PE ratio of 11.58 and a beta of 0.83. UMB Financial Co. has a 52-week low of $50.68 and a 52-week high of $87.36.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Wednesday, January 31st. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.53. UMB Financial had a net margin of 14.70% and a return on equity of 13.75%. The business had revenue of $370.80 million during the quarter, compared to analysts’ expectations of $360.69 million. During the same period last year, the business earned $2.06 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. As a group, sell-side analysts expect that UMB Financial Co. will post 7.41 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.56 annualized dividend and a yield of 1.88%. UMB Financial’s dividend payout ratio (DPR) is currently 21.73%.

Insider Buying and Selling

In other news, CEO J Mariner Kemper sold 11,170 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $85.28, for a total value of $952,577.60. Following the completion of the sale, the chief executive officer now directly owns 1,738,604 shares of the company’s stock, valued at $148,268,149.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO J Mariner Kemper sold 11,170 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $85.28, for a total transaction of $952,577.60. Following the completion of the sale, the chief executive officer now owns 1,738,604 shares in the company, valued at approximately $148,268,149.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Abigail M. Wendel sold 1,182 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $80.70, for a total transaction of $95,387.40. Following the completion of the transaction, the insider now owns 15,217 shares in the company, valued at approximately $1,228,011.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,277 shares of company stock worth $2,264,661. Company insiders own 8.85% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.